Partnership for New York City Releases NYC Jobs Blueprint
Business Community Urges Next Mayor to Stay on a Path of Growth and Global Leadership
Over Thirty Specific Recommendations that Business Will Partner with Government and Others to Achieve, Including: NYC 2020 Jobs Challenge; Integrated Education, Job Placement & Workforce Development System; New Tax Credits & Services to Encourage Job Creation and Growth of Tech & Creative Industries, including “New “ Manufacturing; Permanent Innovation Advocacy Organization
Partnership Announces $20M Commitment to Jumpstart
Urban Tech Campuses to Provide Flexible, Affordable Live-Work Space
The Partnership for New York City today released the NYC Jobs Blueprint, an in-depth analysis of the state of New York City’s economy and a comprehensive set of forward-looking recommendations for what the next Mayor can do, with the help of employers, educators and organized labor, to accelerate job growth and expand opportunity for all New Yorkers. Based on eight months of work and hundreds of interviews with labor, business, civic and academic leaders, the recommendations focus on five key areas: more and better jobs; better educated and skilled workers; infrastructure that provides greater connectivity and accessibility; a safe and affordable living environment; and an efficient, disciplined, and well-run city government.
The report cites the city’s success over the past decade. Today, at $583 billion, New York City is the largest city economy in the world, with its population and private sector jobs at all time highs. Tourism, high tech and creative industries are rapidly growing, the financial industry, as well as health and professional services are also contributing to growth and job creation. At the same time, unemployment and poverty are high, reflecting a mismatch between job requirements and skills of job seekers. Challenges include high costs that are driving mid-level jobs and middle class households out of the city; the likely loss of federal and state aid; a structural city budget deficit; and growing competition from other regions.
In the Blueprint, the Partnership for New York City lays out broad and achievable goals for New York City’s 109th Mayor. Over the next decade, the city should take actions designed to accelerate real GDP growth to 3.4 - 3.8% to match top international competitors. The city should strive to increase annual productivity growth to 2.7 - 3.0% and add 101,000 middle-wage jobs, bringing the city back to its 2008 peak before the Great Recession.
“Mike Bloomberg brought long-term vision, top management talent and terrific marketing skills to the mayoralty.” said Partnership Co-Chair Terry Lundgren, Chairman, President and CEO of Macy’s, Inc. “The business community is committed to working with the next Mayor to keep the positive momentum going, while also addressing new challenges, including international competition and loss of middle-wage jobs.”
“New York City remains the global capital of finance but retaining that title depends on keeping the city secure, livable and affordable to our employees,” said Partnership Co-Chair Laurence Fink, Chairman and CEO of BlackRock, Inc. “We also need to unite with organized labor to advance the city’s agenda in Albany and Washington, DC.”
“Our city’s future depends on a skilled and productive workforce,” said Partnership Vice Chair Philippe Dauman, Chairman and CEO of Viacom. “We are prepared to work with the next Mayor and with educators to ensure that New Yorkers have the opportunity to gain the skills required to succeed in the 21st Century workplace.”
The NYC Jobs Blueprint contains over thirty specific policy proposals, several of which the Partnership and business community will back with significant financial or operational support. To expand well-paying job opportunities, the economic development arm of the Partnership has committed $20 million to support development of urban tech campuses for entrepreneurs and startups with the goal of creating affordable live-work campus environments in each borough. In addition, to better prepare New Yorkers for the jobs of the future, the report proposes the NYC 2020 Jobs Challenge under which employers commit to map career-oriented curricula, provide mentors, work experience, and job opportunities for public high school and community college students at a meaningful scale.
“Our city has rebounded dramatically since the near-bankruptcy of the 1970’s, but we cannot take our current positive economic trends for granted,” said Partnership for New York City President and CEO Kathryn Wylde. “Rising costs, high taxes and the lack of affordable housing all threaten our continued growth and could discourage the entrepreneurs who are creating new jobs throughout the five boroughs.”
The business community will mobilize business-labor-citizen advocacy efforts to help advance the Blueprint agenda. Additional key Blueprint recommendations include:
- Build a network of new Urban Tech Campuses that provide affordable housing and flexible work space for the next generation of high-tech, artisanal and “new” manufacturing companies and millennial workers;
- Create new public-private investment vehicles to finance necessary infrastructure improvements;
- Found a permanent innovation advocacy organization comprised of the heads of leading universities, research institutions and innovation industries to drive policies and programs that advance New York’s status in the knowledge economy;
- Establish industry-labor partnerships, along the lines of NYC & Co., to promote the growth of good jobs in key sectors;
- Support key programs and policies that nurture the growth of startups into major, scalable employers and reverse the loss of middle class jobs;
“An incisive look at exactly what New York City must do to put itself at the forefront of economic innovation in the coming decades. This is not your parents' concept of economic development, but an innovative blueprint both for making the city more competitive and rebuilding its middle class job base,” said John Mollenkopf, Director of Center for Urban Research, CUNY.
“The Partnership is presenting a clear and compelling look at the state of our city. This Blueprint suggests real steps the city can take to expand economic opportunity,” said Jonathan Bowles, Executive Director of the Center for Urban Future.
“The Blueprint accurately describes the economic challenges facing New York City. The next mayoral administration needs to address these challenges head-on if the city’s prosperity and competitiveness are to be preserved and enhanced,” said Carol Kellermann, President of the Citizens Budget Commission.
“This report comes at an important time for all New Yorkers. It demonstrates clearly that we share common goals for the city - including more and better jobs,” said Stuart Appelbaum, President; Retail, Wholesale and Department Store Union. “We should be able to work together; and I believe we can. A united approach is the best way to deal with the issues our city faces.”
“Over the last 30 years, New York City has made significant headway in diversifying the city economy and encouraging economic growth – we can’t afford to stop now,” said Alair Townsend, former Deputy Mayor for Finance and Economic Development under Mayor Ed Koch. “Our next Mayor must be conscious of all the challenges in this Blueprint and would be well-served by adopting many of the recommendations proposed by the Partnership.”
“The business community’s support for increased career and technical education, and for the Community Schools concept that brings social and health services directly into our schools, will be crucial to these program’s successes in the future,” said Michael Mulgrew, President, United Federation of Teachers.
To prepare this Blueprint, the Partnership relied upon input from its membership, which is made up of the city’s top business leaders and private sector employers, as well as a number of respected urban experts. The Blueprint draws on information and analysis provided by the Brookings Metropolitan Policy Program and fact-based research and analytical support from McKinsey & Company. The report contains demographic and economic data that has not been previously aggregated for comprehensive analysis. The result is a fresh look at the trends and developments of the last decade and projections that suggest how these will play out over the next ten years.
Engaging New Yorkers in this conversation is critical. To that end, the full report, including viewer-friendly, sharable info-graphics, can be viewed at www.NYCJobsBlueprint.org. A grassroots social media campaign is also being launched with the #NYCJobsBlueprint hash tag.
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Contact: Michael Levoff
Vice President, Public Affairs, Partnership for New York City
Connect with the Partnership:
Websites: www.PFNYC.org and www.NYCJobsBlueprint.org
NYC Jobs Blueprint Tumblr: http://nycjobsblueprint.tumblr.com
About the Partnership for New York City
The Partnership for New York City (www.pfnyc.org) is a nonprofit organization representing leaders of New York City’s corporate, investment and entrepreneurial businesses. Together, they employ more than 1.7 million New Yorkers. The Partnership is committed to working with government, labor and nonprofit institutions to enhance the economy and maintain New York City’s position as the global center of commerce, culture and innovation. Through the Partnership Fund for New York City (www.fund.pfnyc.org), it contributes directly to financing projects that create jobs, improve economically distressed communities and stimulate new business creation.