Mayor announces plan for East New York business zone
by Benjamin Fang
Jul 19, 2016 | 6440 views | 0 0 comments | 167 167 recommendations | email to a friend | print
Photo Courtest: Jeff Reed/NYC Council
Photo Courtest: Jeff Reed/NYC Council
Hours before their town hall meeting last Thursday, Mayor Bill de Blasio and Councilman Rafael Espinal released the East New York Industrial Business Zone (ENY IBZ) Plan, which outlines 20 ways that the city plans to invest in the neighborhood’s economic growth.

According to the city, the plan will bring more than $16 million in infrastructure improvements to the industrial zone, including “better activation of underutilized properties” and new construction.

All told, the proposal could help create up to 2.7 million square feet of new industrial space over the next 10 years, and could provide spaces for as many as 250 companies and 4,000 new jobs.

“For generations, East New York has been a hub for well-paying industrial jobs,” de Blasio said. “With this plan, and millions of dollars of investment, we’re not only preserving these critical jobs, we’re helping keep East New York at the forefront of our industrial economy for generations to come.”

The ENY IBZ plan includes $6 million in improvements to the East New York Industrial Building, a city-owned property. The city hopes the improved facility can fit six new companies.

The plan is bringing high-speed broadband access to 250 businesses in the business zone, which will cost up to $2.5 million. Another $8.2 million investment will also create new sidewalks, repave streets and bring new lighting around the Sutter Avenue L-train stop.

The city hopes that industrial firms that are battling rising rents in Greenpoint, Williamsburg and Gowanus can relocate to East New York instead of leaving the five boroughs.

“Although the unemployment rate in Brooklyn has decreased in recent years, East New York still struggles with unemployment rates in the double digits,” Espinal said. “Today’s announcement sets out a plan to not only invest in the businesses that exist in the IBZ today, but also a plan to invest in the people of East New York, ensuring that East New York residents have the tools they need to compete for jobs in the IBZ.”
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