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Statement from Kathryn Wylde, President and CEO of the Partnership for New York City, on Executive Order to Expand Living Wage Law

“The Executive Order to increase the ‘living wage’ is unlikely to affect the city’s overall economic growth, but some prospective commercial tenants will resist leasing space in projects that impose wage and compliance requirements that are more onerous than market practice. The Administration will need to monitor how this new policy affects development and leasing activity, particularly in lower income communities.”