The Partnership Fund has participated in the $48 million Series A investment of Petra Pharma Corporation to develop small molecule inhibitors for the treatment of cancer and metabolic diseases. The investment signifies a step forward in strengthening the biotech sector in New York, which has yet to capitalize on its wealth of the academic institutions, but is seeing an influx of new early stage venture investors like Accelerator Corp.
This year, members of the Partnership stepped up to provide unprecedented business and civic leadership for New York City. As a result, the city has more jobs— 4.3 million—and greater economic output—$712 billion—than ever before.
“The business community agrees with Mayor de Blasio’s assessment that the city economy is in good shape, that the NYPD is doing a terrific job, and that we need to come together to deal with conditions of homelessness, providing both support services and housing for those in need and more rigorous enforcement of laws that protect the safety of homeless individuals and the general public. HOME-STAT is a practical response to both service and enforcement priorities.”
Kathryn Wylde, President and CEO of the Partnership for New York City, will testify later today in front of the City Planning Commission in support of the proposed Mandatory Inclusionary Housing (MIH) and Zoning for Quality and Affordability (ZQA) text amendments. The city cannot achieve its ambitious affordable housing production goals if it does not use the zoning code to create new incentives and reduce per unit costs, as proposed in the ZQA amendments. Below is a transcript of her testimony, as prepared for delivery.
“Mayor de Blasio’s action to review and reform city policies and procedures in order to more effectively address a growing homeless population is timely and welcome. Together with programs to increase affordable housing production and to improve public housing, restructuring the management of services for the homeless should help reverse conditions that are distressing to most New Yorkers.”
“The report of Governor Cuomo’s Common Core Task Force, led by Partnership for New York City Board member and former Chairman Richard Parsons, appropriately focuses on maintaining the high standards necessary to prepare students for college and careers in a knowledge-driven economy. These recommendations will, among other things, elevate career and technical education in New York State by applying both rigorous academic assessments as well as expanding opportunities for students to earn meaningful credentials leading to employment or post-secondary education. This is a solid approach that responds to concerns of all stakeholders, including employers, and we look forward to working with the Governor and the State Department of Education on its implementation.”
“Immediately following September 11, 2001, many feared that Lower Manhattan would never recover. Confidence in the future of Downtown was restored, however, as redevelopment of the World Trade Center site, the transit system and the surrounding area moved forward. Thanks to strong leadership and aggressive public and private investment, Lower Manhattan today is stronger and more vibrant than at any time in modern history. Its continued resurgence, however, depends on completion and full occupancy of the World Trade Center and the infrastructure that supports it. That goal is in sight, but will require a last push that all New Yorkers have a stake in achieving.”
“The bipartisan vote to fund the nation’s transportation infrastructure is good news. It is only a provisional step, however, when it comes to building and maintaining the modern infrastructure that this country needs to remain a global economic power. The financing and development of public transportation and other infrastructure should be a central theme of the presidential election and 2017 should be the year when America comes up with a serious commitment to funding our multi-trillion dollar backlog in infrastructure needs.”
A few weeks ago, the New York Stock Exchange hosted a summit of business leaders and advocates at its Wall Street headquarters, a meeting convened by New York City’s first lady Chirlane McCray and activist hedge fund manager Bill Ackman. The topic that brought this unlikely duo together was their shared concern about the impact of mental illness on both individual New Yorkers and the overall health of our city.