“New York City is alone in imposing a local commercial rent tax – a 6% tax on rents for Manhattan office and retail space that are already the most expensive and heavily taxed properties in the country. The city lost more than 100,000 middle wage jobs between 2008 and 2013, and the high cost of office space is a primary reason. If the City Council wants to help save those jobs, it should eliminate the commercial rent tax for all employers. Job-saving tax relief cannot be for just ‘small’ businesses. Fifty-one percent of the city’s private sector jobs are with companies that have 500 or more employees and are most likely to have their rent tax raised under this proposed legislation. City government is projecting a multi-billion dollar tax revenue surplus over the next few years. This is a moment when the city can afford to get rid of the rent tax across the board, so that employers can afford to keep good jobs here.”
“By blocking this trade deal, the Senate is putting partisan politics ahead of smart policy. New York stands to be one of the leading beneficiaries of new international trade agreements, so the state comes out a loser if we don’t support the President’s push. The Senate plans to re-visit this proposal in the near future, and the business community is imploring those who voted ‘no’ to reconsider.”
“The impact of New York State’s advertising campaigns, including START-UP NY, should be measured in terms of general promotion of the state as a place to invest and do business, not simply by the early results of a single new program that is just getting started and shows great promise. It is easy to underestimate the challenge of changing the global perception of New York as an over-taxed and hostile business environment. The ad campaigns have gone a long way toward changing negative perceptions and the Cuomo administration has created a menu of opportunities, including START-UP NY, to capture the momentum of interest generated among job creators and investors to benefit our struggling state economy.”
“The business community supports the Mayor’s focus on addressing the city’s long-term infrastructure needs in his budget, including major Capital commitments to affordable housing and transportation improvements. If the city invests in high quality infrastructure, public safety and education, the private sector will continue to create jobs and build our economy.”
“In this age of high-tech, employers are screening job applicants more carefully, particularly for positions that have access to proprietary information and customer data. Credit checks are one of many tools that companies use to protect themselves and their customers from potential losses. Constructive negotiations with the de Blasio administration and the City Council resulted in a bill that strikes an important balance, enabling employers to conduct credit checks for the most sensitive job openings while reducing chances that a poor credit history will unfairly disqualify job candidates. Moving forward, it is important to monitor the cost and consequences of this and other new laws that limit the discretion of New York City employers in their hiring decisions.”
Kathryn Wylde, President & CEO of The Partnership for New York City, issued the following statement on the Mayor’s new Center for Youth Employment. The Partnership for New York City, whose members employ over 1.5 million New Yorkers, is helping to fund the new center, a new mayoral initiative that will help the city’s young people gain the skills required to move out of poverty and to succeed in college and careers. The focus is on engaging private sector employers with the Department of Education and other city agencies and nonprofit groups that develop internships, mentors, summer jobs and other services for disadvantaged youth.
“This is the first major public-private partnership to be launched by the Mayor’s Fund and embraced by the business community as a shared priority. Business leaders share the concern of the de Blasio Administration that too many young people are not getting the education and work experience they need to qualify for a job that ‘pays the rent’ in New York City. Twenty-six Partnership members have contributed over $2.3 million in funding and job placement opportunities to launch the program.” – Kathryn Wylde, President & CEO of The Partnership for New York City.
Today, 98 members of the Partnership for New York City, an organization made up of New York City’s business community, issued a letter to the entire New York State Congressional delegation pressing for support of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA). TPA would give the President the authority he needs to secure the advantages that trade initiatives will bring to American business and workers. To date, the majority of the State’s Congressional Delegation has opposed TPA.
“New York is a global city that will enjoy huge benefits from more open and robust international trade,” said Kathryn Wylde, President & CEO, Partnership for New York City. “Our representatives should be leading the charge to support the President’s efforts to complete important trade agreements. Economics, not politics, should decide this issue.”
The letter notes that New York is one of the top beneficiaries of expanded global trade activity. Already, 25% of merchandise exports from the New York City metropolitan region are purchased by consumers in countries include in the Trans-Pacific Partnership. The legislation should result in a significant increase in exports to markets along the Pacific Rim, creating more jobs and economic activity in the U.S. and New York.
The Partnership Fund invested in New Lab, an 84,000 square foot collaborative design and fabrication workspace – located in the Brooklyn Navy Yard—that brings together a community of designers, entrepreneurs, corporations, and academic institutions to foster innovations in industrial design, prototyping, robotics and new manufacturing. Upon completion in mid-2016, New Lab is expected to house 60+ businesses and to create over 300 jobs. Prior to opening, New Lab is operating an 8,000 SF beta space at the Brooklyn Navy Yard, which currently hosts 33 businesses with 44 employees.
New Lab is expected to have a significant impact on the economic growth of the Brooklyn Navy Yard and the City. In addition to the Partnership Fund’s investment, New Lab is supported with funds from NYC Council, Regional Economic Development Council and other tax incentivized financing sources.
The Partnership for New York City today released its 2015 state budget priorities, focusing on job creation, education, infrastructure and opportunity for New Yorkers.
- Reform NYC Business Taxes
- Increase the state Minimum Wage and reduce regulatory burdens on business
- Avoid New Entitlements & Tax Increases
- Renew Mayoral Control & Increase Education Options
- Support the MTA & expand the role of the private sector in infrastructure finance and construction
February 12, 2015
RE: City Council Intro. 261, legislation to ban credit checks in employment
Dear Mayor de Blasio and Council Speaker Mark-Viverito,
The New York business community is concerned about the escalation in local legislative proposals that intrude into the relationships between private sector employers and their employees when it comes to hiring, compensation and other workplace decisions. New York already has one of the nation’s most heavily regulated business environments. There will be consequences for our economy if additional legal and regulatory burdens are imposed without regard to their impact on employers.