Category Archives: Economic Development

Next Phase of Hudson Yards May Come With Increasing Costs for the City

Posted by Doug Turetsky, October 3, 2013 The next phase of the Hudson Yards project is beginning to take shape as approvals get underway that will allow the rise of an 80-story office building known as North Tower. But the project’s cost to the city may be rising as well. On October 10, the New […]

The More Things Change, the More They Stay the Same: Richest and Poorest NYC Census Tracts, 2000 & 2011

Posted by Doug Turetsky, September 24, 2013 New York has often been characterized as a city of contrasts, especially when it comes to wealth and poverty. To get an idea of how those contrasts may have changed over the past decade, IBO took a look at where the 10 highest and lowest income census tracts […]

Operator of Yankee Stadium Parking System Strikes Out: With Bonds in Default and Growing Debt to the City, Company Issued Request for Proposals to Redevelop Two Lots

Posted by Doug Turetsky, July 11, 2013 In 1970, Joni Mitchell famously sang about tearing down paradise to put up a parking lot. More than 40 years later, it looks like a financially troubled set of parking lots and garages built in conjunction with the new Yankee Stadium will add a different twist to Mitchell’s […]

Seas Rise, Storms Surge, and NYC Presses Ahead with Waterfront Development Projects

Posted by Doug Turetsky, November 21, 2012 Long before Sandy slammed the city’s coastline, the Bloomberg Administration had been sounding alarms about coming threats to the city due to climate change. In well-known reports such as PlaNYC and through less publicized efforts such as the convening of scientists and risk management experts for the New […]

Sandy’s Aftermath: How Much Federal Aid Can the City Expect?

Posted by Doug Turetsky, November 8, 2012 In the decade since the terrorist attacks on 9/11, New York City has faced several other disasters that drew federal aid, such as last year’s Tropical Storm Irene and the blizzard and tornadoes of 2010. As IBO’s George Sweeting points out, the city received federal aid for a […]

Living Wage, Again

Posted by Doug Turetsky, November 30, 2011 Amid the uproar during the past few weeks over the proposed living wage law there’s one important point that you might have missed: the city already has a living-wage law. Its rules cover thousands of workers employed under more than $1 billion worth of contracts with the city. […]

The Big, and Small, Stall in Construction Projects

Posted by Kerry Spitzer, September 21, 2009 One clear sign of the city’s real estate downturn is the abundance of sites where the construction of apartments or commercial space has come to an abrupt stop. City officials are concerned that many of these sites pose a public safety hazard. But some also see a potential […]

Quiet on the Set?

Posted by Eldar Beiseitov, August 19, 2009 Shooting movies and television programs in New York City has always been expensive. At the end of June, it became even more expensive. That’s when the city’s program that provided tax credits for qualified film and television production ran out of money. This, and uncertainty about the renewal […]

Swinging at the Wrong Pitch

Posted by George Sweeting, January 29, 2009 Much of the outcry over the recent vote to give the Yankees (and Mets) a second helping of tax-exempt bond financing for their new stadiums overshadowed the most important issue: would the public investment in the stadiums pay off? At times it seemed like a public policy version […]