New York Works: Creating Good Jobs Creating Works: York New New York Works Creating Good Jobs The City of New York Mayor Bill de Blasio Alicia Glen Deputy Mayor for Housing and Economic Development New York Works Creating Good Jobs Table of Contents Letter from the Mayor 01. 30,000 Tech jobs pg.04 pg.28 Executive Summary 02. 15,000 pg.06 Life Sciences jobs Introduction and Healthcare pg.14 pg.40 03. 20,000 The City’s Toolbox Industrial and jobs pg.26 Manufacturing 5 Strategies to Create 100,000 Good Jobs pg.52 pg.28 04. Creative and Connecting New Yorkers to Good Jobs 10,000 pg.94 Cultural Sectors jobs pg.66 Additional Economic Impacts pg.100 05. Space for Jobs of 25,000 Implementing the Plan the Future jobs pg.106 pg.82 Letter from 5 the Mayor To My Fellow New Yorkers: By many measures, our city is in an extraordinary period of Through these direct actions, we will create 100,000 good, progress. Unemployment is at a record low. We have more jobs middle-class jobs over the coming decade. than ever before. Wages are fi nally rising again, after tumbling sharply during the recession. Our economy is more diverse than We will attract new industries to New York City, like cybersecurity ever, with technology transforming industries from fi nance to and life sciences. manufacturing to media. We will train workers to secure jobs in high-demand fi elds with But there is deep inequity in this success story. good pay and good benefi ts, and work directly with employers to actively place them, through initiatives like ApprenticeNYC. Access to the good-paying jobs of the “New Economy” is far from equal. Hundreds of thousands of working New Yorkers struggle We will help companies with strong job-growth potential succeed to earn enough to aff ord raising a family in this city. And the jobs by making sure they have the physical spaces they need—in both and sectors that historically supported our middle-class are in City-owned and private assets. tremendous upheaval. These challenges cut to the heart of the city we want to be. These programs will strengthen both the economic security of our people and the economic future of our city. Every New Yorker deserves a fair shot at a good job that pays a quality wage and off ers the opportunity to develop a meaningful Given the challenges and uncertainty coming out of Washington, career. Focusing on job quality is not only a moral imperative, but there has never been a more urgent time for New York to serve essential for the future of New York City. as a model for inclusive economic growth. And what better time to take up this mantle than now—from our current position This is a plan to put the force of City government behind a new of economic strength, when we are most able to bring our full generation of middle-class jobs and promising, high-paying in- resources to bear and make the most of this historic opportunity. dustries within reach of New Yorkers. It invests in our workers, in our buildings, in our neighborhoods, and in our companies. Together, let us lead the way to a bright economic future. Mayor Bill de Blasio Photo Credit (image on page left): Mayoral Photography Offi ce, NYC 6 Executive 7 Summary New York City is witnessing a time of nearly 50 percent of employment growth historic growth. came from the education, health, and technology industries. The city’s diverse Today, New York City has a population talent pool attracts companies looking of just over 8.5 million residents—and for employees with global understand- that number is expected to reach 9 ing, and demographics refl ective of their million by 2040. Since 2014, the city has customers. Foreign born workers in New added over 300,000 jobs. And over the last York make up 45 percent of the workforce three years, employment growth in the and over 200 languages are spoken across city has outperformed the nation in almost the fi ve boroughs. every sector, and unemployment has fallen to as low as 4 percent. The city remains a global destination, not only for businesses and talent, but New York continues to be the place where also for visitors. A record-setting 60 companies and people choose to locate. million visitors came to New York in Our city remains the global fi nancial cap- 2016, drawn by world class culture and ital of the world and is home to more For- entertainment, robust transportation tune 500 companies than any other U.S. networks, and inviting public space. New city. The city continues to grow through York is at a historic moment of growth economic diversifi cation. From 2007-2015, and opportunity. Photo Credit (image on page left and above): Mayoral Photography Offi ce, NYC 8 The state and federal governments have The City’s tools to incentivize job creation 9 many tools that influence economic in the private sector include: The Challenges of Our Time A Jobs Plan for All Tools for Creating growth, including, among others, personal »» City-owned property that can be and corporate income taxes, monetary New Yorkers Jobs activated for commercial and indus- Although the city’s resurgence has adapt to new mediums like virtual and policy, trade policy, and financial regu- trial use been dramatic, these gains have not augmented reality. Artificial intelligence lations. The City will work with its state In the 2017 State of the City, Mayor been distributed evenly across the and machine learning will revolutionize and federal partners to use these tools and »» Financing and tax incentives de Blasio set a goal of using direct five boroughs. The unemployment rate healthcare diagnoses and digital adver- leverage them where possible to improve that help business acquire property, City actions to spur 100,000 new, for New Yorkers without a college degree tising. The proliferation of blockchain the economic wellbeing of New Yorkers. construct and renovate facilities, and good-paying jobs over the next ten is almost double that of the working age technology will further push the evolu- invest in equipment years. While the City will continue to en- population as a whole. Nearly 95 percent tion of global finance and spur continued However, New York has the opportunity courage overall economic and job growth, »» Capital investment in large scale of the country’s income gains are claimed investment in cybersecurity. Automation to be a model at a time of political and it will specifically catalyze 100,000 infrastructure that directly enables by the top 1 percent of households. Over could impact 60 percent of occupations economic uncertainty at the federal and quality jobs through City investments businesses to start and grow the past 10 years, the percentage of New based on technology that exists today, global level. Through targeted use of the and direct actions. The following plan is Yorkers earning middle income wages fundamentally requiring workers in tools within the City’s control, New York »» Land use tools that set the rules of a roadmap to meet that goal, to drive up dropped from 46 percent to 43 percent, those fields to develop new skills. can take direct action in investment and development New Yorkers’ incomes and, together with impacting a quarter million people. This job creation. This report will focus on the investments in housing and schools, make »» Direct financial investment and crisis of affordability has put tremendous The way in which New Yorkers are use of these tools to specifically enable, New York a more affordable place for support to industries that have high strain on families whose wages have bare- working is also changing, with more and support, or incentivize the creation of people to live and work. potential for growth ly recovered from the recession. more people working part-time and gig 100,000 jobs over the next decade. economy jobs. In 2014, 400,000 New These jobs will pay at least $50,000 a year Alongside this rising inequality, there is Yorkers were self-employed or worked as or put people on a clear pathway toward tremendous disruption driven by tech- freelancers. achieving that level of wages. This will pro- nology that is challenging and changing vide a new generation of New Yorkers the the way businesses operate, and the skills This technological revolution comes at a opportunity to pursue a middle-class career. New Yorkers need to secure the jobs of the time of increased affordability challeng- future. The impact of technology is being es, global competition, and uncertainty felt on manufacturing floors and in the around investment at the national level. This plan has three back offices of major financial firms alike. The role of the City is to make strategic objectives: And more change is coming. The media investments needed to prepare New York and entertainment industries will have to City—and all New Yorkers—for the future. 1. Invest in the creation of middle-class jobs 2. Ensure those jobs Foundations for Growth are accessible to New Yorkers New York City is thriving thanks to that will repave roads, improve water in- strong fundamentals: safe streets, frastructure, and rehabilitate bridges. Go- improving schools, robust public ing further, the City will continue to make 3. Prepare for the jobs of transportation, and dynamic neigh- investments to enable business expansion the future borhoods. These conditions are basic and talent attraction and retention. responsibilities of government necessary to draw and retain talent, and to encour- The City has made significant strides in the age companies to locate and grow here.