MAYOR GIULIANI SIGNS COUNCIL BILL NO. 1054, AUTHORIZING THE ESTABLISHMENT OF A NEW YORK STATE ECONOMIC DEVELOPMENT ZONE IN THE BROOKLYN NAVY YARD, WILLIAMSBURG AND NORTH BROOKLYN
REMARKS BY MAYOR RUDOLPH W. GIULIANI AT PUBLIC HEARING ON LOCAL LAWS
There is one bill before me for consideration today, Introductory Number 1054. Sponsored at my request by Council Member O'Donovan and seven of his colleagues, this bill authorizes the establishment of a New York State Economic Development Zone (EDZ) in the area consisting of the Brooklyn Navy Yard, Williamsburg and North Brooklyn.
The EDZ Program was created by the State in 1986 to stimulate growth in business and employment in specific geographic areas. The Program targets commercial and industrial firms in designated areas of the City by providing these firms with special State and private financial incentives aimed at lowering the cost of doing business in the City.
Last year, in response to military base closures and realignments, and the loss of jobs at defense contractor facilities around the State, Governor Pataki and the State Legislature amended the State EDZ statute to allow for the designation of seven additional EDZs, each of which is to contain a former defense contractor or military-related facility.
In response to the additional authorization for EDZs, the Department of Business Services submitted an application on behalf of the City, seeking the designation of one of the seven new zones. Should the State approve the City's application for EDZ designation for the Brooklyn Navy Yard and the surrounding area, this would increase the total number of zones throughout the City to nine. The latest application for an EDZ is part of the City's aggressive economic development policy of promoting business and job growth, especially in the commercial and industrial sectors. This proposed EDZ complements other EDZs in New York City, which include Port Morris and Hunts Point in the Bronx, South Jamaica and the Rockaways in Queens, Southwest Brooklyn and East New York in Brooklyn, East Harlem in Manhattan and the North Shore in Staten Island.
For the reasons previously stated, I will now sign the bill.
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