City’s unemployment rate falls to 5.0 percent, down from 5.5 percent in June 2015  The New York City Economic Development Corporation (NYCEDC) today announced that based on an analysis of seasonally adjusted job numbers for June 2016 by the New York State Department of Labor, New York City added 26,400 private sector jobs in June 2016. The analysis also showed that New York City’s unemployment rate fell from 5.1 percent to 5.0 percent during the month of June. New York...

Delta to Rebuild Its Airport Facilities – Connecting to Central Hall to Create a Unified New Airport Rapid Progress: Agreement Comes Less Than 1 Year Following Unveiling of the Master Plan for the New Airport Governor Andrew M. Cuomo today announced the Port Authority of New York and New Jersey’s Board of Commissioners has authorized $600 million in Port Authority contributions to support Delta’s complete rebuilding of its terminal and gate facilities at LaGuardia Airport – the final component for...

Citywide ferry service coming to Atlantic Basin in 2017 The de Blasio Administration and the New York City Economic Development Corporation (NYCEDC) today announced that the Citywide Ferry Service ferry landing for Red Hook will be located at Atlantic Basin. The Red Hook ferry landing is part of the South Brooklyn route which is scheduled to launch during summer 2017. The landing is projected to serve over 6,000 residents that live within a half-mile radius, including families in NYCHA’s Red...

World’s First Underground Park Would Keep NYC at Forefront of Urban Innovation Major Cultural Attraction Would Provide Green Space, Educational Programming to Community, Help Support Local Small Businesses Deputy Mayor for Housing and Economic Development Alicia Glen and NYCEDC President Maria Torres-Springer today announced that NYCEDC has selected the Lowline, to bring the world’s first underground park to the Lower East Side. This conditional designation serves as the first major step in making this project a reality, resulting in a community-oriented...

Governor Andrew M. Cuomo today announced that $13.1 million has been awarded for 42 agricultural water quality conservation projects across the state, benefiting over 120 farms. The funding, provided to 25 County Soil and Water Conservation Districts through the Agricultural Nonpoint Source Abatement and Control Program, supports projects that allow farmers to address water quality challenges in priority watersheds. Together, these projects will work to prevent water pollution, reduce erosion and limit the amount of harmful sediments and other...

New York City Economic Development Corporation (NYCEDC) today announced the closing of a deal with Tishman Speyer to develop two new office towers providing 1.1 million square feet of much needed commercial space in Long Island City.  The project will bring more than 1,500 construction jobs and more than 2,000 permanent jobs to Western Queens. In addition, more than 800,000 square feet of the available office space in the development has been pre-leased, including 250,000 square feet to WeWork. The...

Governor Andrew M. Cuomo today announced the availability of $200 million in enhanced assistance for local governments over the next two years to rehabilitate and replace bridges and culverts statewide. This funding, provided through the Governor's BRIDGE NY initiative, is being administered by the New York State Department of Transportation as part of its $21.1 billion five-year Capital Plan. The BRIDGE NY program provides emphasis on projects that address poor structural conditions; mitigate weight restrictions or long detours; facilitate economic...