“For the last seven years, a New York business-backed program — the FinTech Innovation Lab — has been working to stem that West Coast tide by helping financial services start-ups sell their services in New York in an industry where the city clearly dominates: big banks and other finance companies.
“Mayor de Blasio, who has vowed that the city will not share in the cost of MTA repair and upgrading, is suddenly proposing an additional tax on those New Yorkers who already carry a huge tax burden and are widely considered flight risks. The Partnership is not against everyone paying their share: we supported the extension of the so-called Millionaire’s tax when the state was in fiscal trouble; we led business support for the MTA payroll tax, which was supposed to close the budget gap. But when the city has a budget surplus and is spending on arguably frivolous items such as subsidized ferry rides for tourists, there is no rationale for an MTA income tax. The Mayor has previously suggested that city residents are already paying more than their fair share and that there is need for greater transparency on the MTA budget. Now he is prepared to throw the city’s high earners under the bus. If the Mayor’s tax proposal were to be enacted, New York would be about even with California in imposing the highest income taxes in the country. This is simply not a sustainable situation if we expect the city to attract top talent and business investment, particularly with the pending threat of federal tax reform that may eliminate deductions for state and local taxes,” said Kathryn Wylde, President and CEO of the Partnership for New York City.
“As President of the MTA, Patrick Foye is a great addition to the strong team that Governor Cuomo has put in place to deal with the challenges of our aging and capacity-strained transit system. Foye brings deep knowledge of how to leverage the resources of the private sector to achieve a modern, high functioning system. The newly established Office of the Chairman with Managing Director Veronique Hakim and Chief Development Officer Janno Lieber demonstrates the MTA’s renewed commitment to improving service, ensuring a reliable modern subway system for riders, and transforming the culture of the MTA into a less bureaucratic and more entrepreneurial agency,” said Kathryn Wylde, President and CEO of the Partnership for New York City.
“Governor Cuomo’s initiative to create a public-private partnership to help improve the subway system is what has long been needed. Our city’s private and nonprofit sectors have expertise and resources that will supplement what government is doing, bring innovative ideas and expand support for the tough steps that are needed to modernize the system and generate more revenues. This is the kind of forward-thinking leadership we need to continue the success of public-private partnerships throughout the city. New York City is transforming into a 21st-century economic hub, and companies are coming from across the globe to set up shop here in the Empire State. Thanks to the previous remarkable success of public-private partnerships, major companies have already signed on to this initiative to ensure its success. By allowing this opportunity for companies and individuals to get even more involved, we can only expect a stronger, better New York for generations of workers,” said Kathryn Wylde, President & CEO of the Partnership for New York City.
“The laser focus on repair, clean-up and preventive maintenance in the 30-Day Plan issued today by MTA Chairman Joe Lhota illustrates why he enjoys the confidence of the business community. This is the first step in what will be a challenging process of making New York’s subway system as reliable and well-equipped as those of other great world cities. The private sector is prepared to partner with the city and state to respond to what amounts to a significant crisis in our transit system and commit the resources required to support a first class system. Our region’s $1.5 trillion economy depends on an efficient and cost effective transit system. It is everyone’s responsibility — the City and the State — in this moment to work together toward a solution. We congratulate Chairman Lhota and the Governor for aggressively taking charge of the MTA’s modernization and upkeep,“ said Kathryn Wylde, President and CEO of the Partnership for New York City.
“The New York business community considers Gateway our top priority infrastructure project. It will provide essential connectivity between the global financial and commercial center in New York City with the rest of America west of the Hudson River. We are confident that the Trump Administration understands that this is a project of national significance and intends to partner with us in ensuring its timely completion,” said Kathryn S. Wylde, President & CEO, Partnership for New York City.
“The business community congratulates Governor Cuomo and legislative leaders for successfully negotiating and passing a two-year extension of Mayoral Control of the New York City schools. At a moment when there is partisan deadlock on critical issues facing the nation, New York State has transcended political interests to do what is right for the 1.1 million children whose future depends on a good education. Since mayoral control was first enacted in 2002, there has been significant improvement in the city’s education system and it is gratifying that this will continue,” stated Kathryn Wylde, President and CEO of the Partnership for New York City.
NEW YORK; June 22, 2017 – The New York FinTech Innovation Lab, founded by Accenture (NYSE:ACN) and the Partnership Fund for New York City, celebrates seven years as it kicks off its annual Demo Day, hosted at the Bank of America Tower at Bryant Park. Eight startups will debut the innovations that came out ahead from this year’s applicants, including cybersecurity, artificial intelligence and fraud detection technologies.
“Although we have not seen the legislation, New York City’s major employers and business leaders welcome the Governor’s proposal for the state to assume control of the MTA board in order to address immediate transit emergencies and to establish clear accountability for the management, maintenance and financing of what has become an unwieldy and overly bureaucratic authority,” stated Kathryn Wylde, President and CEO of the Partnership for New York City.