NYCEDC Celebrates Historic Accomplishments in Economic Development and Other Major Milestones

Numerous Legacy Projects Initiated or Advanced Under this Administration Across the Five Boroughs Including Willets Point, Kingsbridge Armory, Brooklyn Marine Terminal, Staten Island North Shore Action Plan, Hunts Point, and SPARC Kips Bay, Among Others

Since 2022, NYCEDC Committed Nearly $2.5B in Public Investment That Leveraged Additional $6.2B in Private Investment, Supported 18,000+ Companies, 33,000+ Construction Jobs, Committed to Redevelop Nearly 14M Square Feet and 120+ Acres

Playing Critical Role in Addressing NYC Housing Crisis by Leveraging Public Land, Neighborhood Plans, and Rezonings to Advance Nearly 20,000 Units of Housing on Public Land and Supporting Creation of 40,000 Additional Units through Rezonings

New York City Recovered and Repeatedly Reached Record High Numbers for Total Job Growth, Outperforming Other Major Cities on Several Occasions

New York City Also Recovered and Increased the Number of New Residents Thanks to Its Ability to Attract Young Talent and Reached Record High Numbers of Tourists

NEW YORK, NY—New York City Economic Development Corporation (NYCEDC) today celebrated the historic accomplishments and project milestones across the five boroughs over the last four years of the Adams administration, cementing its legacy as the most pro-housing administration in New York City history and instrumental in advancing NYCEDC’s mission to create a vibrant, inclusive, and globally competitive economy for all New Yorkers. NYCEDC achieved numerous milestones and standout successes across its key areas of focus: strengthening business confidence; growing innovation sectors, focusing on equity; building neighborhoods where people live, learn, work, and play; and delivering sustainable infrastructure. The Adams’ Administration worked hand-in-hand with NYCEDC to reimagine city-owned sites across the five boroughs, spurring the development of thousands of new mixed-income housing units for New Yorkers.

Mayor Adams and Governor Kathy Hochul forged a historic partnership, and support from NYCEDC, advanced bold economic recovery and infrastructure projects to bring new housing, jobs, and public space to New York City including the launch of the “New” New York Action Plan, the transformation of SPARC Kips Bay that will bring over 2 million square feet of academic, public health, and life sciences space to the community, the transform the historic Kingsbridge Armory in the Bronx into a thriving, community-centered hub, and more.

Under this administration, NYCEDC has unveiled and began activating the Harbor of the Future, a reimagined network of innovation and growth across New York City’s waterways. In addition to a modern maritime port and vibrant mixed-use community hub at the Brooklyn Marine Terminal in Red Hook, the Harbor of the Future includes the advancement of progress in Hunts Point at the Hunts Point Produce Market and expected Hunts Point Marine Terminal; the climate innovation hub “BATWorks” at the Brooklyn Army Terminal in Sunset Park; the country’s largest offshore wind port at the South Brooklyn Marine Terminal; the Science Park and Research Campus in Kips Bay in Manhattan; and new sustainable housing and public space on the North Shore of Staten Island.

“We took office with a simple promise: to 'Get Stuff Done,’ and, four years later, our administration can say we delivered that every day for working-class New Yorkers,” said New York City Mayor Adams. “We drove shootings to record lows and pushed jobs and small businesses to record highs. We rewrote the playbook on homelessness and mental health to finally get New Yorkers living on our streets the help they need, and, after decades of half-measures, passed historic housing legislation to turn New York into a 'City of Yes.' We overhauled the way our students learn to read and do math, cut the cost of child care, and forgave medical debt. We eliminated taxes for low-income families, launched free universal after-school programming, and turned New York’s waterfront into the ‘Harbor of the Future’ with ambitious plans like the Brooklyn Marine Terminal and SPARC Kips Bay. We got scaffolding off our buildings, trash bags off our streets, and opened up new public spaces for New Yorkers to enjoy. The haters may have doubted us, but the results are clear. On issue after issue, we brought common-sense leadership to create a safer, more affordable city, and our work has changed our city for the better; it will stand the test of time because we made New York City the best place to live and raise a family.”

“NYCEDC is proud to have partnered with this administration, businesses, and communities to ‘Get Stuff Done’. Over the last four years we’ve driven the city’s post-COVID recovery leading to all-time highs in job and workforce participation, stimulated nation-leading return to office and commercial leasing rates, our work has strengthened New York City’s economy while making historic investments that continue to lay the groundwork for inclusive long-term growth throughout the five boroughs,” said NYCEDC President & CEO Andrew Kimball. “From unlocking long-stalled projects like the Kingsbridge Armory redevelopment, to breaking ground on transformative developments at Staten Island’s North Shore and in Queens at Willets Point—the largest 100% affordable housing project in 40 years—to launching bold initiatives to reimagine our waterfront through Harbor of the Future and activating our waterways with Blue Highways, we’re advancing new city-shaping projects like the Brooklyn Marine Terminal and SPARC Kips Bay, and championing programs such as Founder Fellowship and Construct NYC to ensure future-focused and legacy industries reflect the diversity of our city. Together, we are advancing projects that create new jobs, expand opportunities for New Yorkers of all backgrounds, deliver new mixed-income homes amid a housing crisis, and continue to position our city to compete on a global stage. As we head into 2026, NYCEDC remains committed to driving this momentum forward alongside our partners in government and the private sector.”

Manhattan

Manhattan has been a focal point of NYCEDC and the Adams Administration’s efforts to modernize aging infrastructure and create vibrant new public realm spaces, strengthen business confidence, create new housing and true 24/7 live, work, play and learn neighborhoods, and build robust talent pipelines to the industries of the future. Over the last four years, NYCEDC has advanced transformative projects, from the SPARC Kips Bay campus to commercial office space revitalization through M-CORE, that will position the borough for long-term economic growth. These investments will create thousands of new jobs for years to come, revitalized key commercial areas, and expanded world-class public amenities along the waterfront.

SPARC Kips Bay

• In 2022, Governor Hochul, Mayor Adams announced plans for first-of-its-kind job and education hub for health and life sciences innovation.
• In 2023, Governor Hochul, Mayor Adams, NYCEDC, and the City University of New York, unveiled the SPARC Kips Bay Master Plan.
• In late 2023, NYCEDC released an RFP for the design of the project’s first phase including SPARC Square and other public realm improvements, over 600,000 square feet of educational facilities for the City University of New York and New York City Public Schools, flood protection measures, and a new ADA accessible pedestrian bridge.
• In 2024, Ennead + Dattner Architects was selected to complete the design after a competitive RFP process. In November 2024, Skanska Construction was selected to manage the first phase of the SPARC Kips Bay project.
• Years of community engagement, highlighted by the formation of the SPARC Kips Bay Community Task Force, co-chaired by Council Member Keith Powers and CB6 Chair Sandy McKee, and the Kips Bay Science District (KBSD) Education and Workforce Task Force.
• In January 2025, NYCEDC—working in partnership with nearly 50 leaders in education, workforce, and industry—released a report: “Empowering Kips Bay’s Future Workforce: The Kips Bay Science District Education & Workforce Vision”.
• This year, Mayor Adams and NYCEDC celebrated the City Council’s vote to approve the SPARC Kips Bay and Innovation East projects.

126th Street Harlem African Burial Ground Memorial and Mixed-Use Project

• In 2023, NYCEDC announced the next phase of archaeological work at the Harlem African Burial Ground and issued a Request for Proposals for a consultant to lead the education and engagement services around the history and cultural impact of the site.
• In Spring 2024, NYCEDC announced the selection of Bridge Philanthropic Consulting (BPC) as the lead consultant for the education and engagement services.
• In Summer 2024, NYCEDC and the Harlem African Burial Ground Initiative organized a ceremony to commemorate the next phase of archaeological.
• In September 2025, the archaeological work concluded and NYCEDC worked with the Harlem African Burial Ground Initiative and Bridge Philanthropic Consulting to organize a special ceremony to mark the conclusion of the fieldwork and honor the community’s engagement and support throughout the past ear.

Manhattan Commercial Revitalization Program (M-CORE)

• In 2023, NYCEDC and the New York City Industrial Development Agency (NYCIDA) launched the program to provide financial assistance, in the form of tax incentives, to support transformative renovations of aging commercial office buildings located in Manhattan south of 59th Street.
• In 2024, NYCEDC announced the first round of M-CORE recipients including WSA Waterfront LLC at 175 Water Street and HPS Investment Partners at 850 Third Avenue.
• In 2025, NYCEDC announced Hahn Kook Center (HKC), an affiliate of the Korean International Trade Association (KITA) located at 460 Park Avenue as the third M-CORE recipient.
• In Summer 2025, NYCEDC closed on its first M-CORE deal with HPS Investment Partners to renovate and transform 850 3rd Avenue into a modern, amenity rich building.

Housing

• In October 2024, NYCEDC and Mayor Adams announced Gansevoort Square, a new vision to transform approximately 66,000 square feet in the heart of the Meatpacking District into a 24/7 live, work, play, and learn community and cultural hub for New Yorkers.
• In January 2025, Mayor Adams and NYCEDC announced the next steps in reimagining Gansevoort Square to build new mixed-income housing, create open space, and deliver thousands of jobs, by releasing a Request for Proposal (RFP) seeking a developer for the residential site of Gansevoort Square.
• In March 2025, Mayor Adams, NYCEDC, and HPD announced the next steps on the 100 Gold project that will provide new units of mixed-income housing, and a new older ddult center for local residents. NYCEDC released an RFP for the transformation of a city-owned site into a mixed-income residential building.
• In October 2025, NYCEDC continued to advance the reimagining of Gansevoort Square, by announcing the selection of Gansevoort Square Partners to build 590 units of high-quality, mixed-income housing and to activate the ground floor with vibrant community and retail space, both of which will be located on the residential site of Gansevoort Square.
• In December 2025, NYCEDC announced the next steps in the transformation of a city-owned site at 100 Gold Street in Lower Manhattan into a new, mixed-income residential building. The city selected GFP Real Estate to build approximately 3,700 units of high-quality, mixed-income housing, with a minimum of 25 percent of the homes required to be permanently affordable, along with 40,000 square feet of new public open space as well as a new state-of-the-art, publicly-accessible fitness center inside the building, and an upgraded older adult center for the community.

Manhattan Waterfront Greenway

• In 2023, NYCEDC and NYC Parks opened the East Midtown Greenway and Phase 2B of Andrew Haswell Green Park. The two new spaces represent a $197.6 million investment from the City.
• In 2024, NYCEDC and NYC Parks opened Pier 42 Phase 1B in the Lower East side of Manhattan. The new waterfront open space is part of a larger Pier 42 revitalization effort and consists of an eight-acre upland park and restrooms, representing a $33.6 million investment made by the City of New York.
• In Fall 2025, NYCEDC, NYC DOT, and NYC Parks broke ground on the Manhattan Greenway Harlem River project that will deliver a seven-acre waterfront park. This project will close a key gap in the Manhattan Waterfront Greenway, and represents a $353 Million investment, including $310 million from the City and $43 million from the New York State Department of Environmental Conservation (NYSDEC).

Additional Manhattan

• In 2023, NYCEDC, Vornado Realty Trust, Hudson Pacific Properties, and Blackstone announced they have entered into Manhattan’s first public-private partnership venture to build a purpose-built studio campus at Pier 94.
• In 2023, NYCEDC, Empire State Development, and Solar One, a leading sustainable energy non-profit, broke ground on a new and improved Solar One Environmental Education Center at Stuyvesant Cove Park.
• In 2023, NYCEDC, in partnership with the Council of Fashion Designers of America, Inc. (CFDA) announced the 2023 Fashion Manufacturing Initiative (FMI) Grant Fund recipients, continuing the support of the New York City fashion manufacturing sector.
• In 2024, NYCEDC and New York City Mayor Eric Adams launched “Chinatown Connections,” a joint city and state investment that will dramatically improve the public space in Chinatown through redesigning Park Row and Chatham/Kimlau Square—making the area safer, more-pedestrian friendly, and more welcoming to both residents and visitors.
• In 2024, NYCEDC, Mayor Adams, NYC Department of Parks and Recreation (NYC Parks), and the Mayor’s Office of Climate & Environmental Justice (MOCEJ) broke ground on the Battery Coastal Resiliency project, a critical $200 million component of the overall Lower Manhattan Coastal Resiliency strategy.
• In December 2024, NYCEDC, NYC Health + Hospitals, and community stakeholders celebrated the ribbon cutting of a new flood protection system at Metropolitan Hospital in East Harlem—an initiative introduced in 2016 following Hurricane Sandy and growing climate risks.
• In May 2025, Mayor Adams Announced New Investments, Totaling Over $400 Million, to Fully Fund Transformation of Fifth Avenue into World-Class, Pedestrian Centered Boulevard as Part of “Best Budget Ever”.
• In July 2025, NYCEDC Allocated $23 Million to Support Renovation of Harlem’s Historic Apollo Theater.
• In July 2025, Mayor Adams Announced Public-Private Partnership to Reimagine 14th Street Corridor with Upgrades to Public Spaces, Pedestrian and Bus Rider Experience.
• In September 2025, NYCEDC and Solar One Cut Ribbon on State-of-the-Art Environmental Education Center.
• In October 2025, City Unveils Design Concepts for Reimagined Chatham Square with More Pedestrian Space, Simplified Intersection.
• In October 2025, NYCEDC Announced the Conversion of City-Owned East 34th Street Parking Lot into Public Open Space.

The Bronx

Over the past four years, the Bronx has seen an extraordinary level of investment and community-driven planning that reflects NYCEDC and the administration’s unwavering commitment to driving equitable neighborhood development shaped by the needs of New Yorkers. From the redevelopment of the historic Kingsbridge Armory to major upgrades across the Hunts Point Peninsula, NYCEDC has delivered on projects that strengthen and modernize the borough’s industrial core, expand public open space, and create pathways to good-paying jobs.

Kingsbridge Armory

• In 2022, NYCEDC announced the “Together for Kingsbridge” engagement process, a community-driven engagement process that will outline a new vision for the future redevelopment of the Kingsbridge Armory.
• In 2023, Governor Hochul, Mayor Adams, and NYCEDC unveiled the guiding principles for the “Together for Kingsbridge Vision Plan” outlining next steps for a process that will include the redevelopment of the historic and long-underutilized Kingsbridge Armory and the creation of new economic opportunities in the Bronx.
• Also in 2023, NYCEDC issued a Request for Proposals (RFP) for a developer to lease, redevelop, and operate the Kingsbridge Armory, one of the largest armory buildings in the world and a landmarked structure that contains approximately 570,000 square feet (SF) of space.
• In January 2025, Governor Hochul, Mayor Adams, elected officials and NYCEDC announced the selection of 8th Regiment partners after a competitive request for proposals to redevelop the historic and long-underutilized Kingsbridge Armory into a mixed-use development that will create new economic opportunities in the Bronx.
• In May 2025, NYCEDC and 8th Regiment Partners began the Uniform Land User Review Procedure (ULURP) to redevelop the Kingsbridge Armory.
• Finally, in October 2025, Governor Hochul, Mayor Adams, elected officials, and NYCEDC celebrated the New York City’s approval of the Kingsbridge Armory redevelopment plan.

Hunts Point Peninsula

• In 2022, New York City Mayor Eric Adams and Hunts Point community leaders released ‘Hunts Point Forward,’ a comprehensive plan to create economic opportunity and improve quality of life for New Yorkers in the Hunts Point neighborhood of the South Bronx.
• Also in 2022, Mayor Adams and NYCEDC announced that the Hunts Point Produce Market has been selected for a $110 million federal grant to upgrade and improve its facilities.
• In 2024, Mayor Adams announced his administration won a $15 million grant from the U.S. Department of Transportation’s (USDOT) Charging and Fueling Infrastructure Grant Program that will help build a groundbreaking, freight-focused electric truck and vehicle charging depot at the Hunts Point Food Distribution Center, the busiest heavy trucking destination in New York state.
• Also in 2024, NYCEDC released an RFP for a developer to lease, develop, and operate the city’s first community-driven freight focused electric vehicle charging depot, a multi-purpose welcome center, and workforce development hub within the Hunts Point Food Distribution Center.
• In April 2025, NYCEDC, Deputy Mayor Carrion, and Con Agg Global (CAG) announced a new waterside transloading facility to be located adjacent to the Fulton Fish Market hub in the Hunts Point Food Distribution Center, one of New York State’s busiest trucking destinations.
• In May 2025, NYCEDC announced the release of a Request for Proposals (RFP) for a developer to design, finance, install, own, operate, repair, maintain, and ultimately decommission roof-mounted and/or carport-mounted solar photovoltaic (PV) systems on three NYCEDC-leased sites in the Bronx—600 Food Center Drive, 1625 Bathgate Avenue, and 1701 Bathgate Avenue.
• In June 2025, Mayor Adams, NYCEDC, and DOC announced that the city will remove the decommissioned Vernon C. Bain Correctional Center (VCBC) barge from Hunts Point and pursue an innovative Hunts Point Marine Terminal on the site to move freight off of ships and onto the last mile in their delivery.
• In July 2025, NYCEDC and Councilmember Salamanca broke ground on the Hunts Point Cooperative Market (HPCM) Building C renovations that will make the building a more sustainable, resilient structure.
• Also in July 2025, NYCEDC announced the selection of MN8 Energy and their plan as the winning proposal to build New York City’s first community-driven freight focused electric vehicle charging depot and multi-purpose welcome center and workforce development hub that will serve as the front door for the Hunts Point Food Distribution Center—offering a gateway for clean energy innovation, job creation, and community connection in the Bronx.
• In October 2025, NYCEDC announced the selection of Louisiana Scrap Metal Recycling to remove the Vernon C. Bain Correctional Center (VCBC) to take apart the barge and use its materials to help build new things. The following month, Deputy Mayor Carrion, NYCEDC and the Hunts Point Community gathered at the site of the decommissioned Vernon C. Bain Correctional Center (VCBC) in the Hunts Point Peninsula for the removal of the five-story jail barge by Louisiana Scrap Metal Recycling, a dismantling and recycling company NYCEDC selected through a Request for Proposal (RFP).

Additional Bronx

• In 2022, NYCEDC and NYC Parks broke ground on the $87 million Orchard Beach Pavilion project to restore the historic 140,000 square foot space.
• In 2023, NYCEDC announced that Build NYC Resource Corporation (Build NYC) has closed on a $209.25 million tax-exempt bond financing transaction with Canal West 75, LLC—an affiliate of KIPP NYC Public Charter Schools. The charter school network will use the bonds to build a seven-story educational facility in the Mott Haven neighborhood of the Bronx. The 150,000 square foot building will act as the permanent home of KIPP NYC’s second high school program.
• In May 2023, NYCEDC, alongside elected officials, announced that BioBus, Inc. is expanding its proven hands-on education and training into additional underrepresented communities throughout the Bronx. BioBus, a nonprofit organization, known for its two state-of-the-art Mobile Labs, provides students of all ages with free educational programming and training to prepare for careers in science, technology, engineering, and mathematics (STEM).
• In October 2023, a host of elected officials, hip-hop luminaries and community leaders joined NYCEDC, L+M Development Partners, Type A Projects, BronxWorks, and The Hip Hop Museum for a ribbon cutting ceremony to celebrate the opening of the housing and public space components at phase one of Bronx Point, the much-anticipated $349 million mixed-use development on the Harlem River waterfront in the South Bronx.
• In November 2023, NYCEDC and NYC Parks joined city and elected officials to officially break ground on the $35 million Lower Concourse Park, a 2.3-acre park that will be located along the Harlem River between 144th and 146th Street bringing infrastructure upgrades and much-needed open green space and waterfront access to South Bronx communities.
• Also in November 2023, Gilbane Development Company, Hudson Companies, and MHANY Management Inc., in partnership with NYCEDC, the New York City Department of Housing Preservation and Development (HPD), and the New York City Housing Development Corporation (HDC) celebrated the groundbreaking of Phase Two of The Peninsula, a 100 percent affordable mixed-use development in the Bronx. The groundbreaking is another step towards transforming what was known as the former Spofford Juvenile Detention Center into a vibrant campus that will provide much needed affordable housing for the Hunts Point community.
• In March 2024, Mayor Adams announced his administration won a $15 million grant from the U.S. Department of Transportation’s (USDOT) Charging and Fueling Infrastructure Grant Program that will help build a groundbreaking, freight-focused electric truck and vehicle charging depot at the Hunts Point Food Distribution Center, the busiest heavy trucking destination in New York state.
• In June 2024, NYCEDC, DOE and DCAS began the installation of solar panels and a battery storage system at New York City's first public school in the Bronx. The project will serve as a critical component of energy resiliency and is backed by a $10 million federal and city capital investment.
• In July 2024, NYCEDC, NYC Department of Cultural Affairs (DCLA), and Department of Citywide Administrative Services (DCAS) joined Bronx elected officials and community stakeholders to officially break ground on the $33 million renovation of The Bronx Museum, the largest contemporary art museum in New York City with 100 percent free admission.
• In December 2024, NYCEDC and the New York Public Library celebrated the ribbon cutting for the reopening of the Melrose branch in the Bronx. The $34.4 million renovation is part of New York City’s 10-year capital commitment to invest $100 million in five Carnegie libraries across the city. NYCEDC is managing the construction for all five library renovations.
• In February 2025, NYCEDC and the New York Public Library celebrated the grand reopening of the newly renovated Hunts Point branch. The landmarked building closed in August 2021 for a top-to-bottom makeover under the Library’s Carnegie Renovation Program, a $176 million program primarily funded by the City of New York that transformed branches operating in underserved areas into state-of-the-art libraries.
• In May 2025, NYCEDC joined Gilbane Development, Hudson Companies, and MHANY Management Inc. Announce Topping Out of Phase Two of the Peninsula, a 100 Percent Affordable Mixed-Use Development in the Bronx

Brooklyn

Brooklyn has undergone one of the most significant periods of economic and waterfront transformation in recent decades. Across the borough, NYCEDC advanced major projects that strengthen the working waterfront, expand access to good-paying jobs, unlock new public spaces, and build on the borough's role as a national leader in innovation and sustainability.

Brooklyn Marine Terminal

• In May 2024, NYCEDC announced an agreement in principle between the City of New York, New York state, the Port Authority, and the New York City Economic Development Corporation (NYCEDC) that will enable the city to transform the Brooklyn Marine Terminal into a modern maritime port and vibrant mixed-use community hub.
• In September 2024, NYCEDC announced the full membership of the Brooklyn Marine Terminal Task Force, led by U.S. Representative Dan Goldman.
• In September 2025, New York City Mayor Eric Adams, New York Governor Kathy Hochul, New York City Economic Development Corporation (NYCEDC) President and CEO Andrew Kimball, U.S. Representative Dan Goldman, and New York State Senator Andrew Gounardes announced that the Brooklyn Marine Terminal (BMT) Task Force passed the historic vision plan to turn BMT into a modern, maritime port and create a vibrant, mixed-use community along the Brooklyn waterfront.
• In October 2025, NYCEDC launched a Request for Expressions of Interest (RFEI) to solicit proposals from domestic and international port operators, developers, and maritime industrial businesses on potential maritime operations at the Brooklyn Marine Terminal.

Sunset Park

• In September 2023, NYCEDC activated the Brooklyn Army Terminal for the Pilots at BAT program, designed to allow innovative startups to test and scale their technologies in live environments. Due to the success since its launch, the program has expanded its reach to NYCEDC’s MADE Bush Terminal campus, providing more space and alternative environments. To date, Pilots at BAT has supported over 15 climate tech companies.
• In January 2024, the city announced a $100 million investment to create a Climate Innovation Hub at Brooklyn Army Terminal. In May 2025, following a competitive procurement process, the City announced that a consortium led by the Los Angeles Cleantech Incubator (LACI) and the Cambridge Innovation Center (CIC) will design and operate the Climate Innovation Hub now known as BATWorks.
• In November 2024, NYCEDC announced the unveiling for the 20-acre historic Bush Terminal North Campus in Sunset Park, including renaming to MADE Bush Terminal—MADE stands for Manufacturers, Artisans, Designers, and Entrepreneurs.
• In December 2024, NYCEDC, UPROSE, and Working Power announced the development of Sunset Park Solar, a project to bring clean, reliable, and affordable solar energy to Sunset Park residents and businesses.
• In 2025, NYCEDC hosted 60 public programs with over 76,000 attendees, launched the Sunset Park Economic Mobility Network, and invested in local workforce training through partnerships like Makerspace NYC.
• In August 2025, NYCEDC broke ground at Pier 6, a 5-acre pier, located at MADE Bush Terminal in Sunset Park.
• In coordination with the Pier 6 groundbreaking, NYCEDC released its first-ever Sunset Park Update Report, a comprehensive overview of the organization’s investments, milestones, and community partnerships across the 200-acre Sunset Park District.
• In November 2025, NYCEDC announced three new lease signings at MADE Bush Terminal with design-led innovators PELLE, Aripack, and MushLume.
• In December 2025, NYCEDC announced the next phase in its transformation of MADE Bush Terminal through a new cultural partnership with Public Service, the creative studio of Public Records, to re-envision and re-activate a 1,000-capacity venue within MADE Bush Terminal.
• In 2025, NYCEDC also announced that the growth and opportunity at MADE Bush Terminal will be further complemented by a second Sunset Park ferry stop at the site, enhancing the campus and its surrounding industrial and residential users’ connections to and from the Brooklyn waterfront via water transit.

Broadway Junction/East New York

• In May 2023, NYCEDC announced a major public investment in the area around the Broadway Junction subway station in Brooklyn that will deliver vibrant public space, improve quality of life, create family-sustaining jobs, and unlock inclusive economic growth throughout East New York and the surrounding neighborhoods.
• In February 2025, following years of community engagement, NYCEDC and Council Member Sandy Nurse announced a series of progress updates as part of its commitment to improve the Broadway Junction station complex and the East New York Industrial Business Zone (IBZ) by delivering vibrant public space, creating family-sustaining jobs, and unlocking economic growth.
• In April 2025, NYCEDC awarded $1.4 million to the recipients of its East Brooklyn Workforce Development Fund, which aims to expand local workforce development programs that connect East Brooklyn jobseekers to employment opportunities in existing industrial and emerging construction and green economy industries.
• In May 2025, NYCEDC and City partners announced the opening of 2440 Fulton Street, a 400,000 square-foot commercial building located in the heart of East New York, Brooklyn, which houses offices for the City's Human Resources Administration, and further builds on public-space developments, affordable housing, and good-paying jobs in and around the Broadway Junction transit hub.
• In October 2025, NYCEDC completed the City’s Uniform Land Use Review Procedure (ULURP) for its public realm work in Broadway Junction – starting the next phase in creating two public plazas totaling nearly one acre of new open space around the major transit hub.

Additional Brooklyn

• In February 2025, NYCEDC announced the next phase of an ambitious, bold new vision for Coney Island, Brooklyn that will deliver 1,500 new homes and invest in the reconstruction of the historic Riegelmann Boardwalk.
• In October 2025, NYCEDC announced RYBAK Development to lead the next phase of development on Coney Island West, which will convert “Parcel A”—an 80,000-square-foot lot used primarily for public parking and owned by the City and NYCEDC—into over 500 units of mixed-income housing, 25 percent of which will be affordable.
• In August 2025, NYCEDC broke ground at Pier 6, a 5-acre pier, located at MADE Bush Terminal in Sunset Park.

Staten Island

Staten Island has seen a historic wave of investment that reactivates the North Shore waterfront, expands mixed-income housing, and delivers long overdue community amenities and open space. Under this administration, NYCEDC advanced the North Shore Action Plan and a series of major capital projects that strengthen local infrastructure, improve waterfront access, and support family-sustaining jobs. These efforts are creating a more connected, vibrant, and resilient future for Staten Island residents while charting a clear path for continued growth along the borough’s shoreline.

Staten Island North Shore Action Plan

• In September 2023, Mayor Adams, NYCEDC and NYC Councilwoman Kamillah Hanks unveiled the Staten Island North Shore Action Plan, which outlines a four-year roadmap for a clear and unified vision for the future of Staten Island’s North Shore, with $400 million in city investment, 2,400 homes, over 20 acres of public space, more than 7,500 family-sustaining jobs, and $3.8 billion in economic impact over 30 years.
• In September 2023, the Tompkinsville Esplanade received its ULURP (Uniform Land Use Review Process) approval from the City Council.
• In February 2024, Mayor Adams and NYC Parks broke ground on the Mary Cali Dalton Recreation Center in Tompkinsville, the first groundbreaking for a recreation center on Staten Island in over 14 years.
• In July 2024, Congresswoman Nicole Malliotakis announced $2.5 million in federal funding secured for NYCEDC to renovate the currently closed Pier 1 on the North Shore, reestablishing public access to the waterfront pier for the local community.
• In September 2024, in celebration of the Action Plan’s one-year anniversary, Mayor Adams and NYCEDC broke ground on 12 acres of interconnected public open space on the New Stapleton Waterfront.
• In December 2024, following a competitive RFP process, NYCEDC and NYC DOT announced that concessions will return to the Staten Island Ferry with Dunkin as the selected concessionaire.
• Also in December, following another competitive RFP process, HPD announced its selected developer team to convert the city-owned sanitation garage on the North Shore into affordable housing with a grocery store, community services, and world-class public open-space.
• In April 2025, Mayor Adams and NYCEDC announced the start of construction on Tompkinsville Esplanade to build two-acres of new public waterfront open space that will fill a critical gap in public waterfront access along the North Shore and restore the long- deteriorated shoreline.
• In May 2025, NYCEDC commenced the design phase on Pier 1 and the St. George Esplanade.
• Also in May, Mayor Adams and NYCEDC announced Artimus and Phoenix Realty Group as the selected developers to build over 500 new mixed-income units along the New Stapleton Waterfront, which will be the largest mass timber residential project in New York City.
• In June 2025, NYCEDC and Triangle Equities cut the ribbon on The Residences at Lighthouse Point, a mixed-income housing complex on the St. George waterfront.
• Also in June, NYCEDC and NYC Councilmember Hanks commenced public engagement to welcome North Shore community input on the revitalized future of two St. George sites.

Additional Staten Island

• In April 2025, NYCEDC and New York Public Library (NYPL) celebrated the grand reopening of the newly renovated Port Richmond branch in Staten Island, the final branch to reopen under the Carnegie Branch Renovation Program, a $176 million city-backed effort that transformed five historic libraries serving under-resourced neighborhoods.
• In November 2025, NYCEDC and NYC Councilmember Hanks unveiled a new vision to reimagine Empire Outlets and the Former NY Wheel Site on Staten Island’s North Shore.

Queens

Queens has emerged as a center of affordable housing production, economic opportunity, and industry growth, driven by transformative investments that are creating new neighborhoods from the ground up, expanding critical infrastructure, and supporting local jobs. From the historic redevelopment of Willets Point to major advancements in sustainability, film, TV, and manufacturing, NYCEDC’s work is unlocking thousands of affordable homes and strengthening Queens’ position as a critical piece of the city’s economic engine.

Willets Point

• In 2022, Mayor Adams unveiled his administration’s vision for the next phase of the transformation of the Willets Point community in Queens. Through a new partnership with 2021 Major League Soccer (MLS) Cup champions New York City Football Club (NYCFC) and Queens Development Group (QDG)—a joint venture of Related Companies and Sterling Equities—Willets Point will be anchored by 2,500 new affordable homes, the largest 100-percent affordable, new construction housing project in New York City in 40 years, which will be constructed on an accelerated timeline.
• In 2023, NYCEDC announced the beginning of the Uniform Land Use Review Process “ULURP” for the Willets Point Phase 2 development that was announced last fall by Mayor Adams.
• Also in 2023, Mayor Adams, NYCEDC, HPD and HDC broke ground on 880 new affordable homes in Willets Point, Queens ― the first phase of the city’s largest 100 percent affordable housing development in 40 years. In partnership with the Queens Development Group (QDG), a joint venture formed by Related Companies and Sterling Equities, the groundbreaking marks the start of construction—more than one year ahead of schedule—for a project that will deliver the first of more than 2,500 affordable homes, roughly 35,000 square feet of new public open space, and significant infrastructure upgrades.
• In 2024, Mayor Adams and NYCEDC celebrated a historic win for affordable housing and economic development in the city of New York after the City Council voted to approve the Willets Point Phase 2 development as part of the Uniform Land Use Review Procedure (ULURP).
• Also in 2024, Mayor Adams announced two Project Labor Agreements (PLAs) with the Building and Construction Trades Council of Greater New York (BCTC) that will cover more than $1 billion in construction projects throughout the terms of the agreements, including generational infrastructure improvements at Willets Point.
• In December 2024, Mayor Adams, NYCEDC, elected officials and NYCFC broke ground on Etihad Park, New York’s first professional soccer-specific stadium and Major League Soccer’s (MLS) first fully-electric stadium across the nation. In addition to the stadium—which will be operational by the 2027 MLS season and is being entirely privately financed by NYCFC—this project will also deliver retail, food and beverage facilities, office space, and “City Square,” a plaza for community uses and events.
• In May 2025, NYCEDC and Mayor Adams Celebrated Significant Construction Milestone on 880 New Affordable Homes in Willets Points, First Phase of Historic Housing Project.
• In December 2025, the housing lottery opened for Willets Point Commons, the first phase of affordable housing at Willets Point.

Additional Queens

• In 2022, Mayor Adams announced a $35 million investment for design and construction of the Metropolitan Hub (Met Hub) in Queens—phase one of a new multi-phase greenway and park project called QueensWay.
• In 2023, surrounded by labor leaders and partners from the film and TV industry, Mayor Adams, Mayor’s Office of Media and Entertainment (MOME) Commissioner Pat Kaufman, and East End Studios, NYCEDC broke ground on a film and TV-ready production studio in Sunnyside, Queens that will create nearly 1,000 construction jobs and roughly 750 permanent, full-time jobs.
• In 2024, NYCEDC and the New York City Industrial Development Agency (NYIDA) announced the closing of a transaction to provide financial assistance to The VOREA Group and Mega Group Development in connection with the $14.2 million renovation of the Metropolitan Building—located in Long Island City’s Industrial Business Zone—into a mixed-use building for manufacturing and light industrial uses, including small scale production, artist workshops, technology incubators, fashion ateliers, and small studio users.
• In March 2024, NYCEDC announced the selection of Wildflower, a New York City-based developer that creates urban infrastructure for sustainability, to build the largest publicly accessible electric vehicle charging station in New York City.
• Also in 2024, NYCEDC released an RFP for the development of an 80-acre plot of city-owned land in College Point, Queens—the former site of the Flushing Airport that was decommissioned in 1984. Considerations for the site can include housing, in accordance with Mayor Adams’ Executive Order 43—requiring city agencies to review their portfolios for any potential housing development sites.
• Also in May 2025, NYCEDC Issues Request for Information for Adaptive Reuse Opportunity in Long Island City.
• Similarly, in May 2025, NYCEDC and NYCDOT Cut Ribbon on 132nd Street Extension in College Point, Improving Traffic Conditions Around the Queens Neighborhood.
• In July 2025, Most Pro-Housing Administration in City History: Mayor Adams, NYCEDC Kick Off Housing Week by Unveiling Ambitious Plan to Transform Former Flushing Airport Into 3,000 New Homes.
• In October 2025, NYCEDC, MOME joined state and local leaders for the ribbon cutting ceremony of East End Studios Sunnyside Campus in Queens.
• In November 2025, the New York City Planning Commission approved the OneLIC Neighborhood Plan, a rezoning plan that will bring nearly 14,700 new homes and 14,400 jobs to Long Island City, Queens.

Innovation Industries

Green Economy

Over the last four years, New York City has positioned itself as a global leader in the green economy, advancing projects and initiatives that support clean energy, low-carbon construction, and climate-resilient infrastructure. From the launch of the city’s first Green Economy Action Plan to the development of the nation’s largest offshore wind port at SBMT, NYCEDC has laid the groundwork for nearly 400,000 projected green-collar jobs by 2040. These investments are driving innovation, creating pathways to family-sustaining careers, and ensuring equitable growth of the future-focused sector.

• In March 2022, NYCEDC and New York City Mayor Eric Adams announced an agreement that will transform the city-owned South Brooklyn Marine Terminal (SBMT) into one of the largest offshore wind port facilities in the nation.
• In 2022, The City University of New York (CUNY) Chancellor Félix V. Matos Rodríguez and New York City Economic Development Corporation (NYCEDC) President and CEO Andrew Kimball, announced the six CUNY colleges that are the initial recipients of $3.98 million in City funding to help train the next generation of professionals for climate-smart careers.
• In 2023, NYCEDC launched the Greenlight Innovation Fund, an initiative that awards City capital funding to projects led by nonprofits that drive commercial innovation in future-focused sectors, including the life sciences, green economy, fashion, and advanced technology, among others.
• In 2023, NYCEDC launched OSW NYC Waterfront Pathways Program, a first-of-its-kind offshore wind (OSW) training program for Minority, Women-Owned and Disadvantaged Business Enterprises (MWDBEs) with the goal of eliminating barriers and easing participation in contracts.
• In September 2023, NYCEDC activated the Brooklyn Army Terminal for the Pilots at BAT program, designed to allow innovative startups to test and scale their technologies in live environments. Due to the success since its launch, the program has expanded its reach to NYCEDC’s MADE Bush Terminal campus, providing more space and alternative environments. To date, Pilots at BAT has supported over 15 climate tech companies.
• In 2023, NYCEDC announced the launch of the New York City Mass Timber Studio, a technical assistance program to support active mass timber development projects in the early phases of project planning and design.
• In February 2024, NYCEDC and Mayor Adams announced the release of the Green Economy Action Plan—a first-of-its-kind plan that lays out a roadmap to growing the city’s green economy. The plan invests in jobs and sectors that will help the city combat climate change, and train and position New Yorkers—particularly those from environmentally-disadvantaged communities—to benefit from the nearly 400,000 projected ‘green-collar’ jobs in New York City by 2040.
• In March 2024, NYCEDC announced the advancement of two key commitments featured in New York City’s Green Economy Action Plan that seek to revolutionize a green path forward for cleaner construction and low carbon buildings with the launch of the Clean and Circular: Design and Construction Guidelines and the selection of the first design and development teams of the NYC Mass Timber Studio.
• In April 2024, announced the advancement of a key commitment featured in New York City’s Green Economy Action Plan with a new request for proposal (RFP) that seeks to develop multiple sites across New York City for shared medium-and-heavy-duty (MHD) electric vehicle (EV) and fleet charging hubs.
• In June 2024, NYCEDC, Mayor Adams, and Governor Hochul announced the start of construction of what will be the nation’s largest dedicated offshore wind port at the South Brooklyn Marine Terminal (SBMT) in Sunset Park, Brooklyn.
• In September 2024, NYCEDC announced a newly formed Green Economy Advisory Council, and unveiled the initial members selected to be part of the group. The Council stakeholders are tasked with advising NYCEDC on flagship commitments to address the climate crisis, advance a just transition towards a clean energy future, spark new cutting-edge innovation, and generate tremendous economic opportunity for all New Yorkers.
• In November 2024, NYCEDC and its partners in the Harbor Climate Collaborative – The Trust for Governors Island (TGI), New York City Economic and Brooklyn Navy Yard Development Corporation (BNYDC) - held a Climate Technology Showcase. Together, the three mission-aligned public entities with sites along the New York Harbor, and connected by NYC Ferry, are committed to making New York City the global capital of climate innovation through piloting programs, leases, workforce development investments, and regulatory wayfinding.
• In February 2025, NYCEDC celebrated major accomplishments and project milestones, one year after releasing New York City’s Green Economy Action Plan.
• NYCEDC selected Southwest Brooklyn Industrial Development Corporation (SBIDC), in partnership with Business Outreach Center (BOC) Network, as the operator of WeSource NYC, a comprehensive technical assistance and communications program that will support local small-and-medium-sized manufacturers, construction service providers, and local industrial equipment suppliers to capture contract opportunities in the growing offshore wind (OSW) supply chain.
• In May 2025, NYCEDC announced that a consortium led by the Los Angeles Cleantech Incubator (LACI) and the Cambridge Innovation Center (CIC) will design and operate “BATWorks,” a cutting-edge climate innovation hub at the Brooklyn Army Terminal (BAT) in Sunset Park. As part of the announcement, NYCEDC also announced an “Economic Mobility Network” across Sunset Park.
• In July 2025, NYCEDC announced Fordham University as the inaugural awardee of the Greenlight Innovation Fund, a $50 million dollar program that is driving development in the future-focused sectors of the life sciences, green economy, and advanced technology.
• In August 2025, NYCEDC unveiled the next cohorts for the NYC Mass Timber Studio and the Resilient Energy Studio, two groundbreaking initiatives focused on accelerating climate-forward technologies across New York City. Led by NYCEDC, in partnership with the New York City Department of Buildings (DOB), and the New York City Fire Department (FDNY), these Climate Innovation Studios advance regulatory wayfinding and innovation to unlock the safe deployment of critical climate technologies across New York City.
• In September 2025, NYCEDC announced the next steps in advancing BATWorks in Sunset Park, with Los Angeles Cleantech Incubator (LACI) hosting a series of inaugural climate programming events during Climate Week NYC that more deeply tie LACI’s national programs to New York City and BATWorks.
• In September 2025, NYCEDC announced the release of the Sustainable Bioeconomy: New York City’s Strategic Edge report, a comprehensive roadmap identifying the city’s unique strengths and investments to grow the sustainable bioeconomy and material innovation, which is poised to generate $6 billion and 1,000 high-quality jobs in the next three decades.
• A key commitment in the Green Economy Action Plan is to deploy NYCIDA tax incentives to support battery storage capacity and other green economy uses. To date, the IDA has approved more than three dozen battery energy storage sites in four boroughs.

Life Sciences

• NYCEDC launched LifeSci NYC, a $1 billion initiative overseen by NYCEDC to create 40,000 jobs over the next 10 to 15 years. Over the last four years, the LifeSci NYC Internship Program has expanded immensely, with NYCEDC announcing in February 2025 that the program has placed 1,000 students at over 220 partner companies over the past seven years.
• The LifeSci NYC Expansion Fund, supported by LifeSci NYC, is a funding opportunity for high-growth life sciences companies interested in expanding their operations in one of New York City’s five boroughs. In April 2025, NYCEDC announced a $1M investment in Imprint Labs, a new nonprofit initiative decoding the body's immune memory to uncover the causes of chronic diseases.
• In December 2022, NYCEDC and the Icahn School of Medicine at Mount Sinai announced matching $11.6 million commitments for the Comprehensive Center for Surgical Innovation (CCSI). In April 2025, NYCEDC announced a $1M investment in Imprint Labs, a new nonprofit initiative decoding the body's immune memory to uncover the causes of chronic diseases.
• In December 2022, NYCEDC and the Icahn School of Medicine at Mount Sinai announced matching $11.6 million commitments for the Comprehensive Center for Surgical Innovation (CCSI). CCSI will open next year catalyzing the development of new med tech devices, brain-computer-interface technology, and surgical robotics.
• In May 2023, NYCEDC announced an $800,000 investment in Aanika Biosciences Inc, a biotechnology company based in Sunset Park, New York as part of the LifeSci NYC Initiative. This was followed by Aanika’s expansion with the opening of a new 27,000 square foot facility in Industry City.
• Since 2023, NYCEDC has supported future scientists through its funding of BioBus and its expansion to additional school districts in the Bronx. BioBus has served over 15,500 Bronx students with hands-on science education.
• In October 2023, NYCEDC announced the Chan Zuckerberg Biohub New York, a new biomedical research institute dedicated to detecting and treating disease using the immune system, with $250 million in funding from the Chan Zuckerberg Initiative and another $10 million in funding from the City of New York, and $10 million from New York State.
• In December 2023, Mayor Eric Adams signed legislation that will further bolster New York City’s life sciences and biotech sectors by offering a tax incentive for growing biotech companies to create jobs in New York City.
• In 2025, The LifeSci NYC Internship Program, which provides high quality paid internships to students, just placed its 1000th student
• In June 2025, the City announced a $45 million contingent award to Gotham Foundry a new consortium between Columbia University, the Advanced Science Research Center at the City University of New York’s Graduate Science Center (ASRC), the Fashion Institute of Technology at the State University of New York (FIT), and community biolab Genspace to operate a cutting-edge, first-of-its-kind hub for materials innovation in fashion, construction, health and more, that is expected to create hundreds of high-quality jobs and generate $5.14B in economic impact.
• NYCEDC also partners with Genspace NYC on Break into Biotech, providing $500,000 for hands-on training, networking, mentorship, and career development opportunities necessary to break into the city's biotechnology sector. The program is open to New Yorkers, who may not have a background in STEM, but want to pursue employment in the life sciences ecosystem.
• NYCEDC also brought together leaders with deep expertise in industry growth, venture, and talent development to the Life Sciences Advisory Council to offer key input, leadership, and strategic guidance on the LifeSci NYC initiative.

Tech

• In 2022, NYCEDC launched the Founder Fellowship, an accelerator program designed to improve access to capital and networks for underrepresented founders across all tech-enabled sectors. Since launching in 2022, Founder Fellowship alumni have gone on to raise $170 million in follow-on capital, with their companies achieving combined valuations of over $1 billion. Applications for the 2026 Founder Fellowship are currently open.
• In 2023, NYCEDC and Cornell Tech announced the launch of Pilot: New York City to advance New York City as a global hub for urban innovation. The new initiative is a key proposal within the “New” New York Panel Making New York Work for Everyone Action Plan.
• In 2023, New York City Mayor Eric Adams was joined by NYCEDC President and CEO Andrew Kimball, The Fedcap Group, and elected and community partners to celebrate the opening of Civic Hall at Union Square, a tech and digital hub training New Yorkers and creating an inclusive talent pipeline for family-sustaining jobs in the city’s tech sector.
• In 2023, NYCEDC announced the launch of the Venture Access Alliance, a coalition of more than 100 New York City startup investors whose goal and mission will be to continue to increase diversity in the city’s tech and venture ecosystem.
• In 2023, NYCEDC, Equinor, NYU Tandon School of Engineering, and NOWRDC, launched the Offshore Wind Innovation Hub, a Brooklyn-based accelerator to boost NYC's green economy by fostering offshore wind tech startups.
• In April 2024, NYCEDC, the Tech Talent Pipeline within the Mayor's Office of Talent and Workforce Development (NYC Talent) and the Tech Incubator at CUNY Queens College (TIQC) launched NYC Node, an applied learning program and New York City’s first investment in blockchain infrastructure to run the blockchain node housed at TIQC.
• In September 2024, NYCEDC announced the launch of a Request for Proposal (RFP) to source one or more operators for the New York City Startup and Venture Capital (VC) Internship Programs, which consists of two workforce development programs, the continuation of the NYC Startup Internship, and the addition of the NYC VC Internship.
• In November 2024—in celebration of the program’s first year—NYCEDC released Venture Access NYC: Building an Inclusive Tech and Venture Ecosystem for New York City’s Future, a comprehensive report introducing a new independent study of diversity among VC firms in the Venture Access Alliance (VAA), a coalition of startup investors who believe New York City’s diversity is one of its greatest strengths and opportunities for growth.
• In January 2025, NYCEDC released “New York City’s Artificial Intelligence Advantage: Driving Economic Growth and Technological Transformation,” a report that outlines a roadmap series of findings, recommendations, and actions to secure New York City’s position as the premier Applied Artificial Intelligence (AI) capital of the world.
• In 2025, NYCEDC, Company Ventures, Supermomos, along with a coalition of more than 12 additional partners, celebrated the successful closing of the 2025 NYC Startup and Venture Capital Internship Programs – two cutting-edge initiatives that support tech-enabled startups and VC firms in the City with capacity to host interns, grow their teams, and strengthen their businesses, while developing robust and equitable talent pipelines in New York City’s tech sector.
• In 2025, to advance NYC’s position as the global leader in Applied AI—Goal #1 of New York City’s Artificial Intelligence Advantage—NYCEDC and Tech:NYC have launched Obviously NYC, an awareness campaign spotlighting NYC as the most compelling place for building in tech, especially with AI.
• In October 2025, NYCEDC announced the advancement of the “NYC AI Nexus” with its selected operators and AI literacy pilot initiatives through New York City’s libraries.
• In November 2025, NYCEDC announced the launch of the new Founder Alumni program to support graduates of NYCEDC-funded entrepreneurship programs.

Creative Industries

• In December 2023, NYCEDC, in conjunction with NYC Media Lab (NYCML), approved the creation of NYC Game Design Future Lab, a digital gaming incubator at NYU’s Tandon School of Engineering. The Game Design Future Lab officially launched in 2025, with its first cohort of early-stage digital game developers.
• In February 2025, NYCEDC and NYC Mayor’s Office of Media and Entertainment (MOME) announced new investments being made in 2025, totaling $1 million, to help cement NYC’s role as a global hub for the digital games industry.
• In 2024, NYCEDC celebrated the 11th anniversary of the Fashion Manufacturing Initiative (FMI), which was created in 2013 to support and preserve New York City fashion manufacturers. Since FMI’s origination, $6.7 million has been invested across all of FMI’s grants and workforce support programming, which has impacted the work of 3,708 employees.
• In June 2025, NYCEDC announced that a new consortium comprising Columbia University, the Advanced Science Research Center at the City University of New York’s Graduate Center (ASRC), the Fashion Institute of Technology at the State University of New York (FIT), and community biolab Genspace, has been contingently awarded $45 million and selected as the operator for a cutting-edge first-of-its-kind sustainable materials innovation hub.

Women.NYC

• In May 2021, NYCEDC, Women.NYC, and Maven Clinic hosted “It’s Not You, It’s an Economic Crisis: Forging NYC’s Path Towards Accessible Childcare” to present original NYCEDC research on the economic impact of a lack of access to childcare options in New York City and discuss best practices employers can use to support working parents.
• In April 2023, NYCEDC announced the launch of The Women.NYC Network, a social capital building platform designed to connect women in New York City with resources to help them excel and identify opportunities in emerging industries namely, offshore wind, life sciences, technology, and green economy.
• In January 2024, the Adams Administration unveiled “Women Forward NYC: An Action Plan for Gender Equity,” a more than $43 million investment aimed at making New York City a national leader on gender equity, with the ambitious goal of becoming the most women-forward city in the United States.
• In February 2024, NYCEDC launched Women.NYC: Pivot to Growth, a cohort bridge program designed to facilitate career and entrepreneurial pivots for women of color in early to mid-career stages to forge a career path in New York City’s emerging industries.
• In November 2024, NYCEDC released an impact report on the success of the Women.NYC Network initiative’s inaugural year, highlighting its large-scale impact and unlocking future growth.

Transportation and Blue Highways

NYCEDC has strengthened and modernized New York City’s transportation and marine freight infrastructure, advancing large-scale projects that improve mobility, expand access, and prepare the city for a sustainable transit future and maritime freight delivery. From optimizing the NYC Ferry system with its first-ever routes reconfigure, to transforming the city’s heliports for the next generation of electric flight, to upgrading the cruise terminals with cleaner resilient infrastructure, and to leveraging the vast waterfront to shift goods from our roads to the waterfront, these investments ensure that New York City remains connected locally and competitive globally as a leader in multimodal transit and sustainable freight movement.

NYC Ferry

• In July 2022, Mayor Adams and NYCEDC unveiled Phase One of “NYC Ferry Forward,” a vision for a more equitable, accessible, and fiscally sustainable citywide ferry system.
• Also in July 2022, NYCEDC launched the “Rockaway Rocket,” a new express route from Manhattan directly to the Rockaways.
• In 2023, NYCEDC and NYC Ferry launched faster connections along the South Brooklyn Route, created a pilot discount program for New York Harbor School students, improved summer ferry service, hit record ridership numbers, and procured a new operator agreement with the Hornblower Group.
• In 2024, NYCEDC released a Request for Proposals (RFP) for a sponsorship agency consultant for NYC Ferry’s first-ever naming rights, broke ridership records, lowered the per passenger subsidy over 30 percent, and announced with NYC DOT that the Staten Island Ferry and NYC Ferry will begin testing the use of renewable diesel fuel, a petroleum-free alternative to traditional diesel fuel.
• In June 2025, NYCEDC advanced the naming rights process with the selection of Innovative Partnerships Group, a global leader in naming rights and strategic brand partnerships, as its agency of record to lead the brand search.
• In November 2025, NYCEDC announced a finalized comprehensive redesign of NYC Ferry routes based on the proposed map in the July 2025 Ferry Optimization Plan. The final changes followed significant community and rider engagement on the proposed map and mark the first-ever system-wide reconfiguration of routes since the launch of NYC Ferry in 2017.
• In November 2025, NYCEDC also announced short-term commitments to grow the system, announcing the expansion of the East 34th Street Ferry Terminal, and the construction of a second NYC Ferry homeport facility. Further, NYCEDC identified two landings where we will begin design and engagement with community stakeholders, at East Harlem 125th Street and MADE-Bush Terminal in Sunset Park. NYCEDC also announced the future Vision for the Future of Ferries in the New York Harbor – a document that will explore and evaluate the viability of different types of ferry service for waterfront neighborhoods and regions of New York City.
• In December 2025, the newly optimized NYC Ferry routes took effect, connecting Staten Island and Brooklyn by ferry for the first time since the construction of the Verrazzano Bridge.

Heliports

• In 2023, Mayor Adams and NYCEDC announced the vision to transform Downtown Manhattan Heliport into first-of-its-kind, multimodal hub for sustainable transportation and delivery by upgrading the site’s infrastructure to support electric vertical take-off and landing (eVTOL) aircraft and New York City’s Blue Highways program for maritime freight delivery.
• In 2024, NYCEDC announced Downtown Skyport as the new operator of the Downtown Manhattan Heliport following a competitive request for proposals process.
• In October 2024, NYCEDC announced a five-year renewal with Atlantic Aviation for the operations of the East 34th Street Heliport, under agreement to retrofit the heliport with the supporting infrastructure and charger installation for commercial operations of an electric vertical take-off and landing (eVTOL) aircraft.
• In April 2025, NYCEDC unveiled the renaming of Downtown Manhattan Heliport to Downtown Skyport, marking the transition of site management to the new operator, Downtown Skyport, a joint venture between Skyport Infrastructure, and Groupe ADP.

Cruise Terminals

• In November 2025, NYCEDC announced the expansion of shore power infrastructure at the Brooklyn Cruise Terminal (BCT) which allows more ships to connect to shore power and reduce cruise ship emissions when docked.
• Also in November, NYCEDC officially unveiled an ambitious Master Plan for the redevelopment and modernization of the Manhattan Cruise Terminal (MCT), a landmark project that will secure New York City’s place as a global leader in cruise travel and tourism industries.

Blue Highways

• In June 2025, NYCEDC published a first-ever study of the Blue Highways workforce, titled “NYC’s Working Waterfront: A Blueprint for Blue Highways,” to understand the labor force impacts of the City’s investments in the Blue Highways vision.
• In September 2025, New York City Mayor Eric Adams, New York Governor Kathy Hochul, New York City Economic Development Corporation (NYCEDC) President and CEO Andrew Kimball, U.S. Representative Dan Goldman, and New York State Senator Andrew Gounardes announced that the Brooklyn Marine Terminal (BMT) Task Force passed the historic vision plan to turn BMT into a modern, maritime port and create a vibrant, mixed-use community along the Brooklyn waterfront. BMT will serve as the lynchpin for the New York City’s Blue Highways network.
• In October 2025, NYCEDC announced the Blue Highways Action Plan, a comprehensive report focused on actionable steps to shift freight from New York City’s roadways to waterways and to revive short sea shipping and maritime freight movement throughout New York City.
• In December 2025, NYCEDC and NYC Department of Transportation (NYC DOT), in partnership with DutchX and NY Waterways, launched a microfreight pilot between the Brooklyn Marine Terminal and Pier 79 in Manhattan.

NYC’s Economic Impact

Over the last four years, NYCEDC has provided critical economic research, analysis, and forecasting that shaped policy decisions and informed the City’s response following the COVID-19 Pandemic. Through monthly economic snapshots, individual sector reports, and long-term labor market analyses, NYCEDC delivered data-driven insights into job growth, business trends, population shifts, and the city’s continued economic recovery.

• NYCEDC issued two State of the NYC Economy Reports offering an in-depth look at how New York City has navigated a period of transformation, responding to the impacts of a pandemic, a shifting global economy, and evolving work patterns. The first inaugural report was released in January 2025, and the second was issued in December 2025.
• In March 2025, NYCEDC announced that New York Yankees’ and New York Mets’ regular home games combined are expected to generate $909 million in economic impact for New York City over the course of the 2025 Major League Baseball (MLB) season.
• In March 2025, NYCEDC celebrated new census data showing that New York City’s population grew in each of the past two years and now stands at 8,478,000 people.
• In May 2025, NYCEDC announced that the New York Knicks’ 2025 National Basketball Association (NBA) playoffs run has the potential to generate $832 million in economic impact for the five boroughs.
• In November 2025, NYCEDC released new year-end data showing significant increases in foot traffic and tourism during the 2024 holiday season, with last year’s Black Friday and December weekends drawing millions of visitors to New York City’s retail and shopping districts.

Building a Diverse and Inclusive Economy

A core focus of this administration has been building a more inclusive and equitable economy that expands opportunity for all New Yorkers to be a part of the city’s economic growth. NYCEDC advanced workforce initiatives, startup incubators, and community-driven investments that create pathways into growing sectors, particularly for women, people of color, and residents of historically underserved neighborhoods.

• NYCEDC launched the New York City Catalyst Fund, designed to invest in impact focused debt and equity fund managers. In August 2025, NYCEDC announced that the NYCCF has received approval to deploy its full $40 million capital to eleven fund managers who focus on social and environmental impact as well as high-growth and high-wage sectors, including tech and green economy.
• Following the success of the NYC Catalyst Fund, NYCEDC in December 2025, announced the launch of a Request for Application (RFA) for the NYC Catalyst Fund II, an investment fund targeting social and environmental impact, economic growth and development in New York City, and income for NYCEDC. The NYC Catalyst Fund II will be capitalized with an initial $25 million investment from NYCEDC, which is expected to catalyze over $125 million of investment into NYC-based companies and projects.
• In January 2025, NYCEDC selected MGT Impact Solutions (MGT) to immediately begin analyzing the utilization of minority-owned and women-owned businesses and enterprises (M/WBEs) within New York City’s commercial real estate development industry.
• In June 2025, NYCEDC announced two $1.4 million awards to launch its first-ever “Economic Mobility Networks” in Sunset Park and Hunts Point, which will connect New Yorkers to good jobs in the fast-growing green economy, life sciences, and technology sectors at major NYCEDC project sites across the city.
• In June 2025, NYCEDC published a first-ever study of the Blue Highways workforce, titled “NYC’s Working Waterfront: A Blueprint for Blue Highways,” to understand the labor force impacts of the City’s investments in the Blue Highways vision.
• In 2022, NYCEDC launched the Founder Fellowship, an accelerator program designed to improve access to capital and networks for underrepresented founders across all tech-enabled sectors. Since launching in 2022, Founder Fellowship alumni have gone on to raise $170 million in follow-on capital, with their companies achieving combined valuations of over $1 billion. Applications for the 2026 Founder Fellowship are currently open.

Global Collaboration

New York City has deepened its wide global reach over the last four years through international partnerships, knowledge sharing, and strategic collaboration with cities, international investors, and innovation leaders around the world. NYCEDC hosted delegations, facilitated international business opportunities, and positioned the city as a global hub for emerging industries such as climate-tech and life sciences. These efforts have reinforced New York City’s status as a world leader in economic development and expanded opportunities for both local and international businesses.

• In 2025, NYCEDC launched the International Landing Pad Network to support growth-stage international companies operating in the advanced technology, green economy, and life sciences ecosystems (the “innovation industries”) in their expansion to New York City; attract new sources of innovation and investment; and grow jobs for New Yorkers. In September 2025, NYCEDC selected Plug and Play, Supermomos, SOSA, and The Clean Fight, as the four operators for the inaugural International Landing Pad Network.
• In September 2025, NYCEDC hosted its inaugural Invest NYC Summit to spotlight investment opportunities to global institutional investors.
• In November 2025, NYCEDC hosted the 20th annual “World Conference Cities & Ports,” an event co-hosted with the International Association of Cities & Ports (AIVP) that drew hundreds of international urban leaders and maritime industry executives to the Brooklyn waterfront for four days of programming.

About NYCEDC
New York City Economic Development Corporation is a mission-driven, nonprofit organization that works for a vibrant, inclusive, and globally competitive economy for all New Yorkers. We take a comprehensive approach, through four main strategies: strengthen confidence in NYC as a great place to do business; grow innovative sectors with a focus on equity; build neighborhoods as places to live, learn, work, and play; and deliver sustainable infrastructure for communities and the city's future economy. To learn more about what we do, visit us on Facebook, X, LinkedIn, and Instagram.