Following last Thursday's release of the August employment report by the New York State Deparment of Labor (NYSDOL), New York City Economic Development Corporation (NYCEDC) today announced key signals that the City’s economy continues to grow, hitting a record low unemployment rate of 4.1%, the lowest since reporting began in 1976.
New York City Economic Development Corporation (NYCEDC) President and CEO James Patchett, Housing Development Corporation (HDC) Executive Vice President of Real Estate, Paula Roy Carethers, Department of Housing Preservation and Development (HPD), Queens Borough President Melinda Katz, Councilmember I. Daneek Miller, State Senator Leroy Comrie, Assemblywoman Alicia Hyndman, Representatives with Omni New York LLC and community stakeholders, today broke ground on Archer Green Apartments in Jamaica, Queens. The transformational project will convert a former New York City Police Department parking garage into a vibrant mixed-use development that will bring affordable housing, a community facility and commercial space to downtown Jamaica.
On September 17, New York City Economic Development Corporation (NYCEDC) hosted its 2018 Development Finance Conference: Investing for Impact in NYC at Convene. Over 550 attendees explored how leveraging the City’s investment strategies can lead to growth across the five boroughs and gained insight into public and private investments that are shaping New York City this year and beyond.
This weekend, thousands attended the inaugural Brooklyn Army Terminal block party to celebrate the campus' 100th birthday. Grammy nominated rapper, Busta Rhymes, rising R&B star, Justine Skye and NY-based DJ Natasha Diggs headlined the celebration with performances that filled the campus with energy and excitement.
New York City Economic Development Corporation (NYCEDC) today released quarterly public reports that detail the NYC Ferry system’s daily and weekly ridership statistics and on-time performance (OTP), which at nearly 91.9%, is in line with other passenger ferry service OTP trends from around the country. In addition, NYCEDC kicked off the 2018 ferry feasibility study, which will analyze potential sites that can support ferry access.