MAYOR GIULIANI ADDRESSES 43RD ANNUAL CONFERENCE OF THE INTERNATIONAL DOWNTOWN ASSOCIATION
Attributes City's Resurgence To Drop In Crime, Cleaner Streets and Parks, Record New Job Growth, #1 Worldwide Tourist Destination
More than 750 representatives from over 500 Business Improvement Districts and Downtown Associations from around the world have come to New York to attend the 43rd Annual Conference of the International Downtown Association. The highlight of the conference came this afternoon when Mayor Rudolph W. Giuliani gave the keynote address highlighting the redevelopment and resurgence of New York City. The conference brought world business leaders together at the Marriott Marquis to share information on how to effectively service their neighborhoods in revitalization efforts.
"Just a few short years ago people were ready to write off New York City -- both up- and downtown," said Mayor Giuliani. " 'The heyday of the City is long gone,' the critics said, 'the suburbs are where people want to live.' Cities all across this nation couldn't argue this fact. From New York to Los Angeles, American cities were on the decline. Many were financially troubled, crime was on the rise, taxes were too high, businesses were fleeing, streets were dirty and infrastructures were crumbling. Families sought to raise their children in safe and enriching environments -- and that meant someplace other than the cities.
"Those days are history, and New York City is one of the reasons why," the Mayor continued. "New York has been a national leader in putting cities back on the map. Our budgets are accountable, we've actually created a $1.2 billion surplus, we're leading the nation in crime declines -- overall crime is down in New York by almost 44 percent since 1993 -- we've lowered taxes and made them manageable, we've spurred record job growth -- over 170,000 new private sector jobs have been created since 1993 -- and, most importantly, we've improved and restored the quality of life for the millions of people living in every neighborhood in every borough. We've turned this City around. So, it's no wonder that New York City is the number one destination in America for international and domestic tourists, and it's no surprise that New York City is now the City where more Americans want to live."
In October 1995 Mayor Giuliani created the Lower Manhattan Revitalization Plan in an effort to turn this historic and important district into a 24-hour community. The plan converted obsolete office space into residential apartments and retail developments. Since its inception more than 110 new businesses have opened including Borders Bookstore, Wall Street Kitchen & Bar and Morton's Chicago Steak House. Over 1,800 residential units have been completed or are under construction and another 1,000 are expected to be started by the end of the year. Office vacancy rates, which exceeded 20 percent in 1992, have been cut to just 15 percent this past year. The plan encourages the continued renovation of property into modern, usable office space through property tax abatements, commercial rent tax reductions and energy benefits for office and retail tenants.
One of the first buildings to take advantage of the Lower Manhattan Revitalization Plan was the New York Information Technology Center (NYITC), located at 55 Broad Street. This area, know as "Silicon Alley," boasts more than 320,000 square feet of Internet-ready space that can be used by companies involved in new media, information technology and software development. The Giuliani Administration has recognized the importance of the City's new media industry, a $1.8 billion industry that provides over 71,500 jobs. The Administration created the "Plug 'n' Go" campaign to market more than 120,000 square-feet of office space in Lower Manhattan to smaller, growing information technology firms. So far, 47 companies have leased space in portions of the six buildings used in this program.
"I'm proud that the Capital of the World is host to this conference," the Mayor continued. "The forty business improvement districts around the City have helped lead our City's resurgence over the last four years. In fiscal year 1998, they will invest nearly $48 million in their neighborhoods to ensure that our revitalization efforts continue to make this City the number one place in the world for people to visit, live and do business. Thank you for contributing to our success."
The Mayor was joined by Deputy Mayor Rudy Washington, International Downtown Association President Betsy Jackson, Brooklyn Chamber of Commerce President Kenneth Adams, Executive Director of the 125th Street Business Improvement District (BID) Barbara Askins and local elected officials.
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