FOR IMMEDIATE RELEASE
May 16, 2010
MAYOR BLOOMBERG DISCUSSES THE LATEST STEPS THE CITY IS TAKING TO HELP BOOST JOB GROWTH AND GROW NEW YORK CITY’S ECONOMY IN WEEKLY RADIO ADDRESS
The following is the text of Mayor Bloomberg's weekly radio address as prepared for delivery on 1010 WINS News Radio for Sunday, May 16, 2010
“Good Morning. This is Mayor Mike Bloomberg.
“In the wake of the deep national recession, many New Yorkers are still struggling to find work and put their financial lives back on solid ground. Fortunately, the hard work we’ve done to diversify our economy in recent years has kept us from getting hit as badly as many other parts of America have been. And now those efforts are also paying off in the green shoots of economic recovery sprouting up in a wide range of businesses this spring.
“Case in point: The ‘Hive@55.’ That’s the name of a Lower Manhattan incubator for freelance workers in media and information technology. Those are growing industries that thrive on the energy and new ideas of small, creative firms - many with only a few employees, or maybe even just one. But for many of these freelancers, the initial costs of office space and modern equipment can keep their businesses from getting off the ground.
“These may be small start-ups. But they’re in an industry that will play a big part in getting our economy back in high gear. That’s why last year we went to work with the Alliance for Downtown New York and the Rudin Management Company to outfit workspace at 55 Broad Street specifically for such media freelancers. The Hive@55 opened for business back in December - and today it’s buzzing with activity, 24 hours a day, seven days a week. In fact, some of the freelancers using space there have already added more employees - which means taxpayers can be confident of seeing returns on our relatively small investment in the Hive.
“Other vital sectors of New York’s economy also rely heavily on freelance talent. Fashion - an industry that generates $10 billion a year in wages in our city - is a prime example. Its continued growth is vital to our city. So in March, along with the industry’s Council of Fashion Designers of America, we launched another incubator in the heart of our historic Garment District. Freelance designers can rent space there at well below market rates for up to two years. We’ve got high hopes for it - as well as for similar incubators we’ll open later this year for start-ups in the food industry, and for artists who are also entrepreneurs.
“Construction is one of New York City’s key industries - and it’s also one that’s been hit hard by the recession. We’re doing something about that, too. Over the next several years, City government is planning to invest more than $46 billion in building and repairing schools, constructing a new state-of-the-art Police Academy, and upgrading public hospitals, wastewater treatment plants, and other City facilities.
“Meanwhile, our Administration’s affordable housing initiative - the biggest ever undertaken by an American city - is on course to meet its goal of creating and preserving homes for half a million New Yorkers by the year 2014. Last week, for example, work started on a new mixed use development in East Harlem that will be the site of 600 affordable apartments as well as a hotel, offices, and stores. Building this $700 million project will employ 4,000 construction workers. And other projects underway in our city are putting thousands more New Yorkers to work, giving our economy a boost when it needs it and building our city’s future for generations to come.
“This is Mayor Mike Bloomberg. Thanks for listening.”
Stu Loeser (212) 788-2958