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NEW YORK CITY 2019 Progress Report NEW YORK CITY REGIONAL ECONOMIC DEVELOPMENT COUNCIL MEMBERS

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NEW YORK CITY 2019 Progress Report NEW YORK CITY REGIONAL ECONOMIC DEVELOPMENT COUNCIL MEMBERS State of the Region: NEW YORK CITY 2019 Progress Report NEW YORK CITY REGIONAL ECONOMIC DEVELOPMENT COUNCIL MEMBERS Regional Co-Chairs Winston Fisher Partner, Fisher Brothers Cheryl A. Moore President & COO, New York Genome Center Appointed Members Stuart Appelbaum Marcel Van Ooyen President, RWDSU Executive Director, Grow NYC Wellington Chen Jessica Walker Executive Director, Chinatown Partnership President and CEO, Manhattan Chamber of Commerce Cesar J. Claro Sheena Wright President & CEO, Staten Island Economic President & CEO, United Way of New York City Development Corporation Kathryn Wylde Carol Conslato President & CEO, Partnership for New York City Co-chair Queens Chamber of Commerce Foundation Kinda Younes Faith C. Corbett Executive Director, ITAC Assistant Vice President, Public Affairs and Partnerships, City Tech, CUNY Ex-Officio Members Lisa Futterman Vicki Been Regional Director New York City, Workforce Deputy Mayor of New York City Development Institute Ruben Diaz Jr. David Garza Bronx Borough President Executive Director, Henry Street Settlement Eric Adams Steve Hindy Brooklyn Borough President Co-founder and Chairman, Brooklyn Brewery Gale A. Brewer Dr. Marcia V. Keizs Manhattan Borough President President, York College Melinda Katz Andrew Kimball Queens Borough President CEO, Industry City James Oddo Kenneth Knuckles Staten Island Borough President Vice Chair, New York City Planning Commission Gary LaBarbera President, Building and Construction Trades Council of Greater New York Nick Lugo President, New York City Hispanic Chamber of Commerce Carlo Scissura, Esq. President & CEO, New York Building Congress Douglas C. Steiner Chairman, Steiner Studios Cover: Boyce Technologies in Long Island City, Queens Table of Contents MESSAGE FROM THE CO-CHAIRS..................................................... 3 I. EXECUTIVE SUMMARY ........................................................................ 4 II. PROGRESS ................................................................................................ 9 General Progress in the Region ....................................................................10 Status of Past Priority Projects ....................................................................... 14 Status of All Projects Awarded CFA Funding ............................................28 III. IMPLEMENTATION AGENDA ............................................................31 Affordable, High-Quality Child Care ............................................................32 Economic and Environmental Justice Strategy .........................................38 Building Momentum in New York City’s Life Sciences Industry ...........42 Opportunity Zone Updates .............................................................................46 Update on Existing Regional Priorities ........................................................56 Additional Ongoing Initiatives ........................................................................58 IV. PROJECTS .....................................................................................65 Priority Project Descriptions ...........................................................................66 Geographic Distribution of Proposed Priority Projects .........................80 Priority Project Crosswalk ..............................................................................82 V. PARTICIPATION.....................................................................................90 Work Groups .......................................................................................................91 Public Outreach and Engagement ................................................................93 VI. DOWNTOWN REVITALIZATION INITIATIVE ROUND FOUR ...94 VII. APPENDIX ...................................................................................100 Photo credits ..............................................................................................................162 2019 Progress Report MESSAGE FROM THE CO-CHAIRS Governor Cuomo and President & CEO Designate Gertler: On behalf of the New York City Regional Economic Development Council, we are pleased to submit our 2019 Progress Report, including the council’s proposed priority projects for 2019. Our report details the REDC’s continued efforts to work with new community stakeholders and business sectors in order to implement our regional plan and to secure the best possible applications for state support. We highlight projects that align with Governor Cuomo’s life sciences program, the Downtown Revitalization Initiative, workforce development strategies and projects which are necessary to maintain and expand mid-wage jobs across the state and city. Through the combined efforts of regional council members, state agencies, local elected officials and community leaders, we conducted widespread outreach about state programs and funding opportunities, resulting in a strong pipeline of projects that will contribute to economic opportunity and workforce development in the region. As a result, the REDC received 307 finalized applications this year, including 103 first-time applicants. In support of the governor’s focus on Workforce Development, Child Care, and Economic and Environmental Justice, we convened work groups of subject matter experts to develop recommendations that are included in this Progress Report. We also identified and recommended a very promising target for this year’s Downtown Revitalization Initiative. We are grateful to Lieutenant Governor Kathy Hochul for her leadership in chairing all ten REDCs across the state, as well as to our council members, as they continue to be deeply engaged and supportive of the REDC and CFA process. The regional councils have been a remarkable contribution of your administration to establishing a more transparent and inclusive economic planning and development process in New York state. We thank you for your continued commitment to strengthening the city’s economy through the REDC process, which we are proud to be a part of. Sincerely, Winston Fisher Cheryl A. Moore Partner President & COO Fisher Brothers New York Genome Center 2019 Progress Report 3 PART ONE Executive Summary 4 State of the Region: New York City The New York City region has been awarded $549.6 million over eight funding rounds to create and retain over 37,000 jobs and leverage $4.3 billion in private and other public investment. New York City represents 5% of U.S. economic output • Recent changes to federal immigration policies but its contribution to both the state and national econ- are contributing to instability in New York, long omies is significantly enhanced due to its status as a dependent on immigrants to fuel innovation, small major headquarters city for multiple industries and as business growth and fill labor needs. In just two a global hub of innovation. New York City continues years, net international immigration in the state to benefit from forces of globalization and technical dropped 21%. revolution that are attracting talent—especially young people—to cities. The New York City Regional • Although the city’s economy is strong, the threat of Economic Development Council (REDC) is dedicated to a national or global recession is more pronounced supporting these positive trends, while simultaneously now than it has been in years, causing businesses spreading the benefits of growth and prosperity to the to revise their growth projections, tighten hiring city’s substantial population that is living in poverty. and invest less in growth strategies. The strength of the city’s economy is evident across The REDC has developed a strategic plan and prior- a wide variety of measures, with economic output up ities for project selection that focuses on inclusive 46% since 2011 and unemployment at a historic low economic growth. It supports strategic growth and of 4.2%. There are fiscal and economic challenges, job creation in the most promising sectors throughout however, that threaten the continued vitality of the city: the five boroughs, while seeking to ensure that the benefits of these investments are shared across the • Residents’ economic outcomes continue to be city’s population and in neighborhoods where there strongly influenced by their race, gender and family has been historic underinvestment. income level. Through the statewide REDC and Consolidated • Educational institutions need better connections to Funding Application (CFA) process, the New York City New York’s employers to facilitate collaboration on region has been awarded $549.6 million in the first curriculums and ensure that students are prepared eight funding rounds. Funded projects will create and to fill the most in-demand positions. retain over 37,000 jobs and result in more than $4.3 billion in private and other public investment. • The cost of housing is a persistent burden for many In 2019, the REDC continued to conduct outreach to residents, and the city is becoming increasingly organizations, community leaders and elected officials unaffordable for middle-income families. across the five boroughs to explain the work of the REDC and the CFA funding process and encourage a greater diversity of applications for state funding. 2019 Progress Report 5 The temporary catering facility at Great Performances in the Bronx Empire Outlets, New York City’s first outlet shopping center Here are a few examples of what has been For the coming year, priority projects that are accomplished, thanks to state support, recommended
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