MAYOR GIULIANI ADDRESSES THE 104TH ANNUAL CONVENTION OF THE NEW YORK BANKERS ASSOCIATION
Mayor Rudolph W. Giuliani delivered the keynote address at the 104th annual convention of the New York Bankers Association at the Waldorf Astoria in midtown Manhattan this evening highlighting several of his Administration's accomplishments that have lead to New York City's resurgence.
"The best way to promote widespread, broad-based growth is to advance a sensible, non-ideological economic philosophy that makes good business sense," said Mayor Giuliani. "That's precisely what we've done over the last five years, and it continues to be our approach today -- to make targeted tax cuts to spur private sector job growth, remove burdensome regulations that hinder economic development, balance the City's own books with discipline and foresight that previous administrations lacked, and, as the cornerstone of and the prerequisite to any job creation strategy, reduce crime and improve the overall quality of life.
"We've turned New York City into a place where investors are no longer afraid and no longer wary of doing business in this City," the Mayor continued. "The City no longer has to make apologies or excuses for all our liabilities. As a result, according to two polls released within the last year, New York City is now the most desirable place to live in the nation, as well as the city Americans most like to visit. New Yorkers have good reason to be the most optimistic they've been in decades. All in all, we've transformed New York City into the Financial Capital of the World largely because the City has embraced policies that spur business development and growth," the Mayor concluded.
The Mayor also highlighted some of the key accomplishments achieved since his election in 1994:
- Crime Reduction -- Overall crime has fallen by 47 percent since 1993, levels not seen since the 1960's;
- Job Growth -- More than 213,000 new private sector jobs have been created since 1993, compared to a loss of more than 320,000 during the prior administration;
- Tax Reduction -- Taxes have been cut by more than $2 billion, more than any administration in the history of the City;
- Decline In Public Assistance Recipients -- The City's welfare rolls have fallen to under 800,000, the lowest level in 30 years.
Michael P. Smith, President of The New York Bankers Association, said, "We are very pleased to bring The New York Bankers Association Annual Meeting and Financial Services Forum to the Financial Capital of the World during one of the most dynamic periods in this organization's 104-year history. Each year, this forum brings together some of the best minds in the financial services industry for in-depth discussions about the issues facing all of us."
The New York Bankers Association represents the State's commercial banking industry, including community, regional and money center banks with aggregate assets in excess of $900 billion and more than 200,000 employees statewide. The primary mission of the Association is to be the pre-eminent provider of legislative and regulatory services to a unified banking industry. At the same time, the Association continues to fill a vital role in providing educational programs, communications and member services geared to enhance the profitability and stature of New York's banking industry.
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