NYCEDC Announces Launch Of Best For NYC Business Campaign To inspire And Equip Businesses With Resources To Improve Job Quality, Invest In Communities, And Preserve a Healthier Urban Environment

New York City Becomes First Municipality in the World to Host a “Best for” Campaign, Leveraging and Localizing Global Business Efforts Led by B Lab

NEW YORK, NY—New York City Economic Development Corporation (NYCEDC) and B Lab today announced the launch of Best for NYC, a campaign and set of business tools and services designed to inspire and equip New York City businesses to measure and improve business practices that help create well-paying jobs and improve the quality of life in all five boroughs, while also strengthening their bottom-line. Using B Lab’s Impact Assessment, the leading global tool for measuring, benchmarking and improving economic and social impact, businesses can assess their practices on issues such as diversity and inclusion, compensation, benefits and governance, and compare their businesses to more than 20,000 others to establish best practices. Businesses will be able to identify opportunities to improve their competitive position by investing in better practices, and in doing so, improve their workplace and communities. The Best for NYC goals stem from recommendations made in the Career Pathways report created by New York City’s Jobs For New Yorkers task force, and the campaign leverages the global campaign led by B Lab to support businesses in measuring social and environmental impacts.

Businesses that complete the assessment and commit to seeking ways to improve their practices will be able to make the changes necessary to strengthen their business, access products and services to improve their practices, and may be recognized as “Competing to be Best for NYC.” At the end of the year, NYCEDC and B Lab will celebrate businesses that are participating and improving their practices to make business work for all New Yorkers.

"New York City is home to many of the most successful and innovative companies in the world, and Best for NYC challenges these local companies to give back, create opportunities and do what is best for the City," said NYCEDC President Kyle Kimball. "Best for NYC celebrates the businesses that are racing to the top, creating quality jobs and shared prosperity for New Yorkers across all five boroughs."

“New York City’s more than 220,000 small businesses add to the vibrancy of our neighborhoods, pave a pathway to economic security, and generate jobs, which is why SBS is excited to be a key partner in the Best for NYC initiative, which will help businesses improve their practices and grow,” said Maria Torres-Springer, Commissioner of the NYC Department of Small Business Services. “NYC Business Solutions Centers provide free services to help small businesses start, operate, and thrive, and the Best for NYC business tools and services will provide even more resources to help small businesses succeed in New York City.”

“Best for NYC will offer many benefits to businesses, particularly in identifying and creating cost-effective options to strengthen, diversify and improve work for low-income New Yorkers – which is what we called for in our Career Pathways report – a new focus on job quality, said Katy Gaul-Stigge, Executive Director, Mayor’s Office of Workforce Development.”

“With the launch of a multi-year 'Best for NYC' campaign, cities around the world can look to New York City as a model for how to engage their business communities to create higher quality jobs and improve quality of life,” said Andrew Kassoy, Co-Founder of B Lab.

Several businesses have already issued the challenge to become the Best for NYC, including New York City-based Certified B Corporations such as Cooperative Home Care Associates, Etsy, Red Rabbit, Warby Parker, and Uncommon Goods.

“As Chair of the New York City Council’s Committee on Small Business, I am pleased to join the NYCEDC and B Lab in announcing the Best for NYC campaign,” said Councilmember Robert E. Cornegy, Jr. “Small businesses already make an enormous contribution to our city’s economy, by employing over half of the city’s private sector workforce. But many businesses are concerned with doing good, in addition to going well. Best for NYC will give them the tools to measure how their decisions impact communities they serve and contribute to the well-being to our city as a whole.”

"These tools will help businesses measure their operations and root out inefficiencies," said Councilmember Dan Garodnick, Chair of the Council's Economic Development Committee. "This is a smart way to help local businesses perform better."

"Best for NYC is a win-win for both small businesses and consumers,” said Councilmember Rafael L. Espinal, Jr, Chair of the Committee on Consumer Affairs.” Locally-owned businesses will have access to tools that can help them employ better business practices and improve their bottom line, while consumers will come to recognize the quality associated with business participating in Best for NYC.”

“I join the NYCEDC and B Lab in recognizing the vibrant and innovative businesses who create jobs, become more competitive, and enhance their workplace and communities by continually seeking to improve their practices and policies, and not just their marketing,” said Councilmember Brad Lander. “While we seek to target the worst actors in our economy for reform, we commend those who rigorously seek to be the best and in doing so drive our city’s robust economic vibrancy for all.”

"What's not to like about this initiative? It will help give participating businesses more of the tools they need to succeed in this competitive environment,” said Staten Island Borough President James S. Oddo. “I urge local Staten Island businesses to participate to be Best for NYC!"

“I offer my most heartfelt congratulations to NYCEDC and B Lab on the launch of Best for NYC,” said said Bronx Borough President Ruben Diaz Jr. “Here in The Bronx, I have devoted considerable efforts to improving the quality of life for all the residents of our borough and to helping the business community realize its full potential, and in that spirit this is a very welcome new resource. I encourage all business owner to take advantage of programs like Best for NYC that offer tools to help them increase revenues, improve practices, and at the same time create even more jobs,”

"To be at our best, we must learn from the rest,” said Brooklyn Borough President Eric L. Adams. “Efforts like Best for NYC give our city's businesses the tools they need to assess their success and improve upon it, raising the bar for our entire corporate universe. It is my hope that this new 'race to the top' will encourage better business practices and increased economic opportunity for all. I thank NYCEDC and B Lab for their commitment to this new campaign."

“‘Best for NYC’ is a first-of-its-kind program we can be excited about--an opportunity for New York City to help businesses measure and strengthen their efforts to institute better practices,” said Manhattan Borough President Gale A. Brewer. “On diversity, corporate governance, worker compensation and more, we can ensure that New York City businesses aren’t just setting minimum standards: we’re helping them to lead and succeed.”

NYCEDC intends to have at least 500 businesses participate in Best for NYC by the end of 2015, with focused outreach efforts to ensure business participation reflects the diversity of the City’s businesses. In partnership with community and industry-based business organizations including NYC Business Solutions Centers, the Brooklyn Chamber of Commerce, CAMBA, and Business Outreach Center Network, NYCEDC will be conducting outreach efforts to encourage robust business participation in the campaign to ensure that these tools are available to businesses in all five boroughs.

To learn more about how to participate in the program, please visit bestfor.nyc.

“We are proud to host the launch of Best for NYC and be among the first businesses competing to be Best for NYC," said Co-owner of Bogota Latin Bistro George Constantinou. "At Bogota Latin Bistro, and now Miti Miti Taperia, we have been able to distinguish ourselves through our commitment to better business practices.This commitment enables us to attract and sustain a highly talented workforce, and to deliver high quality services to our customers.”

“We are proud to be among the community of Certified B Corps launching Best for NYC," said Founder and CEO of UncommonGoods David Bolotsky. "We know that there are businesses across this City—of all sectors and sizes, that reflect the diversity of this City—that are positioned to join us in becoming the Best for NYC."

“Our business’s mission to give all children access to nutritious meals in schools depends on our commitment to a diverse and collaborative workplace,” said Rhys Powell, CEO of Red Rabbit, a Certified B Corporation. “Best for NYC provides all companies with an innovative tool to identify new opportunities to nurture talent and tap the full potential of our business.”

Best for NYC is a part of B Lab’s global Measure What Matters campaign led by the community of 1,200 Certified B Corporations, championed by 150 leading investors, business associations, and governments that use the B Impact Assessment and B Analytics. The Measure What Matters campaign culminates with the release of the annual B Corp Best for the World lists, released every year since 2012 and featured in Forbes, Fast Company, Inc., The Guardian, and other business publications. Businesses that take the first step by competing to be Best for NYC, and continue to improve their practices through B Certification, can go on to compete to be Best for the World.

About NYCEDC
New York City Economic Development Corporation creates shared prosperity across New York City’s five boroughs by strengthening neighborhoods and creating good jobs. NYCEDC works with and for communities to provide them with the resources they need to thrive, and we invest in projects that increase sustainability, support job growth, develop talent, and spark innovation to strengthen the City’s competitive advantage. To learn more about our work and initiatives, please visit us on Facebook, Twitter, or Instagram.