Mayor Adams, Governor Hochul Announce Progress Building A More Inclusive, Prosperous “New” New York After One Year

On “New” New York Anniversary, Mayor Adams and Governor Hochul Announce Efforts to Reimagine Commercial Districts, Shorten Commutes, Generate Inclusive Growth Have Propelled City’s Economic Recovery   

NEW YORK – New York City Mayor Eric Adams and New York Governor Kathy Hochul today announced progress in building a more inclusive, prosperous “New” New York, one year after releasing the "Making New York Work for Everyone" action plan last December. Since convening the “New” New York panel of civic leaders and industry experts to help shape New York City’s path to equitable economic recovery and resurgence and releasing their recommendations, the city has recovered all of the nearly 1 million jobs it lost during the pandemic; boosted subway ridership to set a new post-pandemic record of more than 4.1 million riders in a day on back-to-back days; increased the number of New Yorkers returning to the office and hit record post-pandemic levels; and drove more New Yorkers to participate in the local economy, especially people of color across New York City, at near-historic rates. 

“New York City has supercharged its economic recovery because we’ve looked towards the future and have not tried to recreate the past,” said Mayor Adams. “With the partnership of Governor Hochul and the ‘New’ New York panel, we have laid out a bold vision for what a more vibrant, inclusive New York City looks like, and we’ve been relentless in our work to make that vision a reality for New Yorkers. While we have not solved all of New York City’s economic challenges in one year, we have started to shape a “new” city with re-imagined commercial districts, better transportation options, and more inclusive opportunities that will benefit New Yorkers for decades to come.”  

“The recommendations of the ‘New’ New York panel are our road map to a stronger, fairer, more accessible New York, and, over the past year, Mayor Adams and I have worked hand-in-hand to deliver on those recommendations for all New Yorkers,” said Governor Hochul. “We’ve made incredible progress toward creating thousands more units of housing, secured historic investments in child care and mental health, boosted fast-growing industries to create 21st century jobs, improved our transit system and more to build a future that New Yorkers can be proud of. I am committed to working with the mayor and all of our local, state, and federal partners to fulfill the panel’s recommendations and build a New York that truly works for everyone.”  

To help pave for New York City’s economic resurgence, the city and state have made significant progress against the “New” New York action plan’s three core goals to: 1) reimagine New York’s business districts, 2) make it easier for New Yorkers to get to work, and 3) generate inclusive, future-focused growth. Highlights include:  

Reimagine New York’s Business Districts as Vibrant 24/7 Destinations: Transforming New York City’s single-use business districts into great places where people live, work, and play. 

• Launched a new Office Conversions Accelerator to convert vacant offices into housing.  
• Kicked off and completed initial phases of the “Broadway Vision” plan to create vibrant, new public spaces and improved street safety between Madison Square and Herald Square in Manhattan.  
• Created “Dining Out NYC,” New York’s permanent outdoor dining program and the largest outdoor dining program in the nation.  
• Launched the Manhattan Commercial Revitalization Program to provide financial assistance to support transformative renovations of aging commercial office buildings in Midtown, Manhattan.  
• Invested $40 million to deliver vibrant public spaces and street safety improvements along Fulton Street and across Downtown Brooklyn. 
• Advanced a plan requiring all businesses and the majority of residences, to containerize waste.  
• Advanced the historic “City of Yes for Economic Opportunity” zoning proposal to modernize zoning to support small businesses and industrial growth and create good-paying jobs for working-class New Yorkers.  
• Launched the Public Realm Equity Plan to provide tools and support over 100 public spaces in under-resourced neighborhoods. 
• Appointed the city’s first chief public realm officer to create extraordinary public spaces across the entire city and continue to drive the city’s economic recovery. 
• Made substantial progress on an initiative to transform underutilized state land into housing, including the release of the Creedmoor Community Master Plan; the selection of a winning proposal to redevelop the former Lincoln Correctional Facility, and requests for proposals to redevelop the former Bayview Correctional Facility and Javits Center’s Site K.   
• Secured an agreement to advance a major, mixed-use development at 5 World Trade Center that will include approximately 1,200 units of housing, one-third of which will be permanently affordable, and a portion of which will be offered to New Yorkers impacted by 9/11.  
• Created a program to advance projects in the Gowanus rezoning area halted by the expiration of 421-a, unlocking thousands of units of housing, including affordable housing, for New Yorkers.  

Make it Easier for New Yorkers to Get to Work: Improving commutes into Manhattan and strengthening employment hubs and workspaces across the five boroughs so people can work closer to home. 

• Made record investment to save the Metropolitan Transportation Authority (MTA) and secure stable long-term financial plan. 
• Invested $200 million and unveiled community vision to redevelop Kingsbridge Armory and create new economic opportunities in the Bronx. 
• Accelerated the pace of completion of MTA accessibility projects across the New York City subway system. 
• Advanced New York’s nation-leading congestion pricing program to generate billions in revenue for the MTA and improve overall regional air quality.  
• Expanded the “MTA City Ticket,” which provides Metro-North and Long Island Railroad customers with a low-cost, flat-fare to travel within the five boroughs. 
• Launched an action plan and “Smart Curbs” pilot to reimagine the city's curb space. 
• Announced an historic expansion of New York City's greenway corridors to build more than 40 miles of new protected bike infrastructure. 
• Announced a $700 million first-in-the-nation climate research, education, and jobs hub on Governors Island.  
• Advanced the city’s Blue Highways initiative to activate the robust network of local waterways for the sustainable movement of goods. 
• Opened the Grand Central Madison terminal, representing the largest expansion of the Long Island Raild Road in 112 years.  
• Unveiled a new visionfor a first-of-its-kind hub for sustainable transportation and deliveries at the Downtown Manhattan Heliport. 
• Advanced the “City of Yes for Carbon Neutrality” zoning proposal through the New York City Council to facilitate climate action, clean energy, and resiliency by removing barriers to greener and more efficient energy systems, buildings, and transportatio
• Made historic investments in the area around the Broadway Junction subway station to create vibrant public space, create family-sustaining jobs, and unlock economic growth throughout East New York. 

Generate Inclusive, Future-Focused Growth: Supporting the growth of jobs and innovation and breaking down barriers to economic mobility. 

• Signed legislation that will advance the city and state’s shared efforts to tackle New York’s affordable housing crisis. 
• Advanced the Science Park and Research Campus (SPARC) project to create a life sciences career and education hub to anchor industry in New York City.  
• Announced nearly $300 million for a new biomedical research hub with support from the Chan Zuckerberg Initiative. 
• Unveiled a $600 million action plan to build inclusive career pathways for young New Yorkers. 
• Launched a $150 million Mid-Hudson Momentum Fund for mixed-use housing and infrastructure projects throughout the Mid-Hudson Region. 
• Created a $50 million fund for new spaces that drive innovation in future-focused sectors, including the life sciences, green economy, offshore wind, and technology. 
• Signed legislation to create a tax incentive for growing biotech companies. 
• Created the first Mayor’s Office for Child Care & Early Education and launched a plan to make New York’s child care system fairer, more affordable, and easier to access.  
• Created a record number of affordable and supportive homes while connecting the most number of vulnerable New Yorkers to permanent housing.  
• Unveiled the “City of Yes for Housing Opportunity” zoning proposal to “build a little more housing in every neighborhood” that will end up creating an additional 100,000 homes and more than 250,000 family-sustaining jobs. 
• Launched a $75 million “Small Business Opportunity Fund” — the largest public-private loan fund directed at small businesses in the city’s history. 
• Created the “Office of Community Hiring” to leverage city contracts to create jobs in economically disadvantaged communities. 
• Announced “Pilot: New York City” to advance New York City as a global hub for urban innovation. 
• Announced over $6 billion to a record-setting 1,903 city-certified minority- and women-owned business enterprises.  
• Secured a historic increase to New York’s minimum wage that will increase the minimum wage to $17-per-hour in New York City by 2027, then index the minimum wage to inflation.  
• Expanded the New York Film Tax Credit to $700 million in the Fiscal Year (FY) 2024 New York State Budget to encourage production in the state.  
• Expanded the New York City Musical & Theatrical Tax Credit program as part of the FY 2024 New York State Budget to include Off-Broadway productions.  
• Eliminated a key barrier to workforce participation for low-income New Yorkers and mitigated the public assistance "benefits cliff" by disregarding income earned by recipients through workforce training programs.  
• Invested $120 million in the FY 2024 New York State Budget to expand the Medicaid buy-in program beginning in FY 2025 so that more New Yorkers with disabilities can work and still qualify for their health care coverage.  

Additionally, in June 2023, Mayor Adams appointed B.J. Jones as the executive director of “New” New York, overseeing implementation of the plan crafted by the “New” New York panel. 

“I am proud of the progress that the Adams administration has made to implement our vision for a ‘New’ New York.  The milestones that we have reached in the past year are demonstrable — including our record jobs numbers, improvements to public spaces, and investments in our workforce. We are shaping a city that thrives on innovation, sustainability, and equity,” said First Deputy Mayor Sheena Wright. “I am grateful to our government and private sector partners and our esteemed panelists for their invaluable expertise. Together, we are continuing to take meaningful steps towards creating a New York that works for everyone.” 

“Revitalizing New York post-pandemic requires careful attention to every facet of our civic life: creating opportunity, connecting our communities and securing them against climate change,” said Deputy Mayor of Operations Meera Joshi. “This administration is working in all these spaces to help New Yorkers to reconnect with this remarkable city.  From the nation’s first permanent outdoor dining program and connected greenway corridors to activating formerly 9-5 business districts into 24-7 live-work-play communities, we are ensuring New York’s public realm is a joy to be in. We are grateful to the ‘New’ New York panel and Governor Hochul for their vision in year one of this landmark plan.”

"The ‘New’ New York panel set a bold vision and actionable plan to make New York work for everyone, and on the first anniversary of the report's release, I am proud to celebrate all of our collective accomplishments,” said Deputy Mayor for Housing Economic Development, and Workforce Maria Torres-Springer. “Looking to year two of ‘New’ New York, I am eager to continue the city's strong collaboration with the state and advance the entire ‘New’ New York agenda so that we create more jobs, strengthen our core business districts, improve transit access, and build a more inclusive, future-focused New York.” 

“The ‘Making New York Work for Everyone’ action plan wasn’t designed to just sit on a shelf, and it hasn’t,” said “New” New York Executive Director B.J. Jones. “The Adams and Hochul administrations have worked together to produce meaningful results in the first year since the plan’s release, with more vital work ahead, from increasing housing and investing in the public realm to reducing congestion and removing barriers to opportunities for all.” 

“Look around New York City and the verdict is clear: workers, residents and visitors alike are clamoring for more vibrant public spaces,” said Chief Public Realm Officer Ya-Ting Liu. “From implementing the largest outdoor dining program in the country to creating new piazzas throughout the city, we are creating people-centered spaces and increasing local spending.  I’m proud to be part of the ‘New’ New York effort that not only recognizes the critical role public spaces play in the city’s economic, social and cultural fabric, but focuses on getting these projects built.”

“New York City’s economic resurgence has been on full display since the launch of the ‘Making New York Work for Everyone’ action plan — from transforming Broadway to constructing more housing and making strategic investments in our public spaces and innovation sectors of tomorrow,” said New York City Economic Development Corporation President and CEO Andrew Kimball. “The panel of civic leaders and industry experts, led by Richard Buery and Dan Doctoroff, has proposed a new vision to unlock and reimagine not only our commercial business districts but also the entire New York City region. One year since the plan was unveiled, while we’ve made tremendous progress, it’s clear there is more work to be done to ensure New York City is working for all New Yorkers.” 

“The ‘New’ New York panel laid out an ambitious, far-sighted agenda for an equitable economic recovery — and we have made significant progress in the past year to put their plan into action,” said New York City Department of City Planning Director and City Planning Commission Chair Dan Garodnick. “I’m grateful for Mayor Adams, Governor Hochul, panel chairs, and members’ leadership in meeting this moment, and we will continue working every day to revitalize New York’s business districts, support good-paying jobs and growing businesses, and create a city that works for everyone.” 

“Through ‘New’ New York, the New York City Department of Transportation is reimagining our streets to help small businesses recover from the pandemic and support safe, sustainable ways for New Yorkers to get around,” said New York City Department of Transportation Commissioner Ydanis Rodriguez. “Whether you are biking with your family, strolling along one of the city’s new pedestrian spaces, or dining outside at your favorite restaurant, New York City is leading by example on how to build streets that better serve people. We thank Mayor Adams and Governor Hochul for their support of this comprehensive vision to support New York City’s economic growth.”  

“Make no mistake: New York City isn’t coming back, it is back — and these milestones prove it,” said New York City Department of Small Business Services Commissioner Kevin D. Kim. “The numbers are clear: One in seven small businesses started during this administration, and the city has regained all of the nearly 1 million just lost during the pandemic. The ‘New’ New York Plan is working, and thanks to the leadership of Mayor Adams and Governor Hochul, today we are one step closer to being the ‘City of Yes.’” 

Mayor Adams and Governor Hochul launched the “New” New York panel in May 2022 with co-chairs and former New York City deputy mayors Richard Buery, now CEO of Robin Hood, and Daniel Doctoroff, former CEO of Sidewalk Labs. The broad and diverse panel of civic leaders and industry experts worked for six months to generate recommendations for the city and state — at a time of historic alignment between the two — to partner with each other and across sectors to reimagine a "New" New York that propels the city and the region forward for its next chapter of equitable, inclusive growth. 

“New Yorkers never back down from a challenge and there has been encouraging progress by the city and state to advance initiatives outlined in the ‘New’ New York action plan to spur growth, make it easier for people to get where they need to go, and reimagine commercial districts,” said Dan Doctoroff, co-chair, “New” New York Panel. “We must continue to build momentum to leverage this blueprint for transformative change, breaking down bureaucratic friction and regulatory barriers. By making the necessary investments now, we can realize an inclusive economy that makes New York the best place to live, work, and visit.”   

“What I have loved most about my work with the ‘New’ New York Panel was its focus on people and our future as New Yorkers. Our work centered on what matters most to make New York work for everyone — reimagining our business districts, improving transportation, addressing climate change, and guiding the growth of our city in a people-centered way that provides affordable housing, high quality, accessible, child care, vibrant neighborhood-based small businesses, and workforce training programs that enable New Yorkers compete for high wage jobs,” said Richard R. Buery, CEO, Robin Hood and co-chair, “New” New York Panel. “The greatest challenge of any civic planning exercise is to make sure that we remain focused on the needs of people who are not often represented in the rooms of power. I think what we accomplished was a giant step forward for inclusion and equity.” 

“As we mark the one-year anniversary since the convening of the ‘New’ New York Panel, I am pleased to reflect on the remarkable journey we've undertaken in support of New York City's path to equitable economic recovery and resurgence,” said Melva M. Miller, CEO, Association for a Better New York and panel member, “New” New York. “The commitment to our vision outlined in the ‘New’ New York: Making New York Work for Everyone action plan has been steadfast, resulting in significant milestones achieved over the past year. From reimagining our business districts with proposed modern zoning to support business growth and create good jobs, to ensuring New Yorkers can easily access their workplaces by making record investments in the MTA, to fostering inclusive, future-focused growth by tackling New York’s affordable housing crisis, the collective efforts have played a pivotal role in the city's recovery. As we continue to champion these initiatives, we remain dedicated to fostering a thriving and inclusive New York for all who live, work, and visit.” 

“The ‘New’ New York panel’s accomplishments have already impacted New York City's business districts, ensuring our economic hubs remain vibrant destinations for all, and Downtown Brooklyn is a shining example of that," said Regina Myer, president, Downtown Brooklyn Partnership and panel member, “New” New York. “As a bustling mixed-use neighborhood committed to creating the best experiences for our businesses, residents, workers and visitors, this plan has, thus far, announced a $40 million investment towards streetscape improvements along Fulton Street, transportation upgrades, and beautified public spaces. We thank Mayor Adams and Governor Hochul for their leadership on this initiative and look forward to seeing its continued impact on Downtown Brooklyn and across the city.”  

“Over the past year, the ‘New’ New York panel has developed an ambitious agenda to lead New York City on the fast track to economic recovery and revitalization,” said Fred Cerullo, president and CEO, Grand Central Partnership and panel member, “New” New York. “While we still face many daunting challenges, the work of this important private public partnership has generated positive momentum for the resurgence of our city.”   

“A few dozen finance and tech CEOs met with the governor and the mayor in 2022 to hear their vision for how to help New York rebound. Halfway through the meeting, all of the business leaders were relaxed — we were all confident that our city and state had the exact right leadership in place. We were in good hands,” said Donnel Baird, CEO, BlocPower and panel member, “New” New York. “Governor Hochul and Mayor Adams followed through on every word and delivered on every commitment to bring New York roaring back. To top it off, they continue to push for New York to be the national leader in clean energy policy — innovating for the future even while securing the present!” 

“‘New’ New York laid the foundation for more intensive collaboration between the public, the private sector, and civil society. Coming out of ‘New’ New York, Cornell Tech launched Pilot: New York City, a research program to help bolster New York's innovation ecosystem. Pilot: New York City includes many components, including procurement modernization, an area where New York is starting to lead,” said Cara Eckholm, fellow, Cornell Tech Jacobs Urban Tech Hub and panel member, “New” New York. “The New York City Housing Authority has quietly become a technology procurement leader through its Clean Heat for All Challenge, which focused on spurring the cold-weather heat pump market. With leadership from City Hall, we are excited to see the challenge-based procurement model pioneered by NYCHA extend to other New York City agencies. 

“Governor Hochul, Mayor Adams, and their leadership team are doing a superb job bringing the ‘New’ New York report to life,” said Mitchell L. Moss, panel member, “New” New York and professor of urban policy and planning, New York University. “New York City’s vitality depends on more housing, good jobs, and improvements in transportation, and this is precisely what our city agencies are doing today.  

“Implementation of the ‘New’ New York recommendations has been making real progress including the City of Yes for Housing Opportunity, a permanent open restaurants program, funding the MTA and implementing congestion pricing, and many other important initiatives,” said Tom Wright, president and CEO, Regional Plan Association. “These ambitious efforts are essential to creating a more prosperous and equitable New York City and region. While there is much work left to do, RPA is pleased to see so many concrete steps toward implementation and we are proud to continue to partner with the Adams administration to see them through to completion. Congratulations to Mayor Adams, Governor Hochul and their teams for swiftly advancing these much-needed programs.” 

“It is great to see how much progress “New” New York made in year one,” said Carl Weisbrod, senior advisor, HR&A and panel member, “New” New York. “Onward and upward in year two!” 

“New York’s disabled community will have access to real jobs and accessible public transportation in a more respectful way, thanks to the Center for Workplace Accessibility and Inclusion and accelerated MTA accessibility,” said Victor Calise, panel member, “New” New York. “The ‘New’ New York’s effective efforts will improve the lives of almost 1 million disabled individuals, and I am proud to be part of it.”  

“I'm thrilled to have been part of the ‘New’ New York panel and to see the fruits of our labor, with an eye for inclusion across all boroughs and sectors, as well as the needs of diverse segments of our population,” said Khin Mai Aung, panel member, “New” New York and executive director, Mid-Atlantic for Generation Citizen. “In particular, I am encouraged by the plan's prioritization of expanding equitable access to high quality early education and childcare, the development of career pipelines in the technology sector through FutureReadyNYC, and the record-breaking production of affordable homes in our city."  

“Continuing the city’s economic recovery will require an ongoing focus on policies to reimagine our business districts, strengthen our transit infrastructure and reverse our housing supply crisis,” said James Whelan, president, Real Estate Board of New York. “The work of the ‘New’ New York Panel has provided a roadmap for continuing that recovery.” 

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, Twitter, LinkedIn, and Instagram.