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Our Research

Explore the Data Behind the Report

New York’s Next Big Industry: Commercial Life Sciences

Read the full report

Exhibits 1-10

Background

News

09.20.17

Partnership for New York City Announces 35 David Rockefeller Fellows for 2018

09.19.17

Partnership Fund portfolio company Petra Pharma announces research collaboration with Schrödinger

08.18.17

Partnership Fund portfolio company Tara Biosystems appoints pharmaceutical industry leader as Chief Scientific Officer

08.06.17

FinTech Innovation Lab Featured in NY Times: Countering West Coast Pull, by Helping Finance Start-Ups Sell in New York

08.06.17

Statement from the Partnership for New York City on Mayor de Blasio’s Proposed High-Earners Tax for MTA

08.03.17

Statement from the Partnership for New York City on MTA Leadership Appointments

07.27.17

Statement on Governor Cuomo’s Public-Private Partnership Transit Initiative

07.27.17

Partnership Fund portfolio company Petra Pharma Corporation appoints CEO and scientific leadership team

07.25.17

Statement on the MTA’s 30-Day Plan

07.06.17

Statement from the Partnership for New York City on DEIS Release for the Gateway Program

06.29.17

Statement from the Partnership for New York City in Support of Extension of Mayoral Control

06.22.17

FinTech Innovation Lab Celebrates Seventh Anniversary, Entrepreneurs Debut Breakthrough Technologies in Cybersecurity, A.I. and Fraud Detection

06.20.17

Statement from the Partnership for New York City in Support of Governor Cuomo’s Proposal to Give State Control of MTA Board

06.19.17

New York Building Congress and the Partnership for New York City Unite Industry Leaders to Support Design-Build

06.13.17

Statement from The Partnership for New York City on Charter Schools and Mayoral Control

06.08.17

Over 100 Business Leaders Call for Extending Mayoral Control

05.16.17

Partnership for New York City Calls on State Lawmakers to Address Mayoral Control, Charter Schools and Design-Build Legislation

04.27.17

Partnership Fund Portfolio Co. New Lab featured in NYTimes piece on Brooklyn’s “Hardware Renaissance”

04.13.17

Partnership Fund for New York City CEO Maria Gotsch Interviewed on BBC Radio

04.12.17

CME Announces FinTech Innovation Lab Alum AlphaPoint as Technology Provider for New Gold Trading Initiative

04.11.17

Joint Statement from Business & Research Leaders on Commitment to Life Sciences in State Budget

04.06.17

Kathryn Wylde, President & CEO of the Partnership for New York City, on Varney & Company

04.04.17

New York’s Top Business Leaders and Largest Private Sector Employers Meet with President Trump

04.03.17

Statement from the Partnership for New York City on Meetings with President Trump and on Capitol Hill

03.30.17

Statement from Kathryn Wylde, President & CEO of the Partnership of New York City, Supporting Commercial Rent Tax Relief

03.30.17

The Partnership for New York City Mourns the Passing of Our Founder, David Rockefeller

03.30.17

Crain’s New York Business – Remembering David Rockefeller: Not the Royalty I Expected

03.06.17

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, On Governor Cuomo’s Announced Partnership Between New York Genome Center and Technion-Israel Institute of Technology Supporting Life Sciences

03.05.17

Partnership Fund Investment Kings County Distillery is Featured in Crain’s

02.16.17

FinTech Innovation Lab Graduate OpenFin Raises $15 Million Series B Round

02.13.17

Partnership Fund Portfolio Company Celmatix Named in Fast Company’s Top 50 World’s Most Innovative Companies

02.09.17

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, On High Earners Tax Increase at Joint Legislative Budget Hearing

02.07.17

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, On Senate Bill to Create NYC Tax Reform Commission

01.27.17

Kathryn Wylde, President & CEO of the Partnership for New York City, Discusses President Trump’s Impact on the Business Community

01.26.17

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, On Assembly Democrat’s High Earners Tax Proposal

01.24.17

What’s Next in Health Tech Presented at the New York Digital Health Accelerator Demo Day

01.24.17

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, On Garodnick Commercial Rent Tax Legislation

01.18.17

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, On Governor Cuomo’s “Millionaire’s Tax” Extension

01.12.17

Partnership Fund Direct Investment and FinTech Innovation Lab Graduate Kasisto Raises $9.2M in Funding

01.10.17

Testimony by Kathryn Wylde, President & CEO of the Partnership for New York City, on The Economic Impact of Increased Security for the President-Elect upon Local Businesses and the City as a Whole

01.09.17

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, On Governor Cuomo’s State of the State Address

01.04.17

New Report & Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, On Governor Cuomo’s JFK Airport Plan

12.10.16

Partnership Fund Investment New Lab Featured as an Integral Part of Brooklyn’s Industrial Revolution

12.08.16

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, On New York City Being Designated “Top Performer” by Governor Cuomo’s Regional Economic Development Council

12.08.16

CEO of Celmatix, Partnership Fund Portfolio Company, Named Disruptive Founder of the Year

12.01.16

Partnership Fund Investment Lodo Therapeutics Named in Top 10 Startups to Watch

11.14.16

Maria Gotsch, President and CEO of the Partnership Fund for New York City Named in 2016’s Fintech Finance 35

11.02.16

Kathryn Wylde and Winston Fisher on WCNY’s Capitol Pressroom

10.26.16

Partnership Fund Investment Kasisto Announces Partnership with Mastercard

10.24.16

Accenture, Partnership Fund for New York City and Leading Banks Call for Applicants for New York FinTech Innovation Lab 2017

10.14.16

Partnership for New York City Announces 2016-2017 Class of David Rockefeller Fellows

09.29.16

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, On Governor Cuomo’s Unveiling of New Pennsylvania Station Farley Complex

09.26.16

CEO of EpiBone on CNBC

09.22.16

Michael Simas’ Testimony to the Committee on Education of the New York City Council

09.14.16

Kathryn Wylde, President & CEO of the Partnership for New York City, Inducted into Crain’s Hall of Fame

09.13.16

Partnership Fund for New York City and New York eHealth Collaborative Announce Companies Selected for the 2016 Digital Health Accelerator Program

09.09.16

American Prison Data Systems Honored in Annual “Best for the World” Awards

08.30.16

Bounce Exchange Named Fastest Growing Software Company

08.15.16

Fund Investment Profiled in Vanity Fair

07.01.16

VIDEO: Fund President and CEO Discusses Partnering with Startups at CB Insights Event

06.29.16

FinTech Lab Graduate Kasisto Releases New Banking Products

06.24.16

Eight Innovative Startups Showcase Cutting-Edge Financial Technologies at Sixth Annual FinTech Innovation Lab Demo Day in New York City

06.22.16

Fund Investment ‘New Lab’ Opens at Brooklyn Navy Yard

06.22.16

Partnership Fund Releases New Report on Life Sciences in NYC

06.22.16

Wall Street Journal Features Fund’s New Report on Life Sciences

06.20.16

Statement from Kathryn Wylde on One Year Extension of Mayoral Control:

06.16.16

Partnership Fund Participates in Rgenix $33 million Series B Round

06.14.16

FinTech Lab Graduate Enigma Named in “11 Hottest Startups” List

06.06.16

Top Employers Gather to Discuss Mental Health in the Workplace

06.06.16

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, On Majority Leader Flanagan’s Mayoral Control Bill

06.03.16

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on the Business Regulation Council

06.03.16

Partnership Fund for NYC and New York eHealth Collaborative Announce Call for Applications for New York Digital Health Accelerator 2016 Class

05.24.16

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on the Senate Task Force on Workforce Development Report

05.19.16

Testimony by Kathryn Wylde, President & CEO of the Partnership for New York City, on Mayoral Control of Schools in New York City

05.18.16

Top New York City Business Leaders Urge Albany to Pass Long-term Extension of Mayoral Control

03.31.16

New #PromoteTheVote Campaign Aims to Increase Turnout for NY Presidential Primary

03.24.16

Partnership for New York City Calls for More Study of MoveNY Congestion Pricing Plan

03.07.16

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Decline in Wall Street Bonuses

03.07.16

Impending NJ Transit Strike Would Cost NYC Employers $5.9 Million per Hour of Delay

02.16.16

Private Sector Jobs At All-time High, Led by Professional & Financial Services

02.09.16

Testimony by Kathryn Wylde, President & CEO of the Partnership for New York City, on Mandatory Inclusionary Housing and Zoning for Quality and Affordability

02.04.16

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Mayor’s State of the City Address

02.02.16

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Education Tax Credit and Charter School Increase

01.29.16

Partnership Convenes Breakfast Honoring Jay Fishman

01.26.16

Maria Gotsch, President and CEO of the Partnership Fund for New York City, interviewed for The Economist Intelligence Unit

01.25.16

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, Re: City Council Hearing on Quality of Life Offenses

01.21.16

Six Innovative Digital Health Tech Companies Present Cutting-Edge Solutions at the New York Digital Health Accelerator Demo Day on January 21

01.21.16

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Maria Vullo, Nominee for DFS Superintendent

01.13.16

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on GE Headquarters Decision

01.13.16

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Governor Cuomo’s State of the State

01.12.16

NYC Seed’s first Seedstart program Datadog raises $94.5 million in Series D funding

01.11.16

Partnership Fund invests in Lodo Therapeutics, Accelerator Corp’s second NYC biotech startup

01.11.16

Partnership Fund President and CEO Maria Gotsch talks fintech with Institutional Investor

01.06.16

Partnership Fund invests in Petra Pharma Corp, fueling biotech sector in NYC

12.17.15

Partnership Celebrates Year in Review

12.17.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on HOME-STAT

12.16.15

Testimony by Kathryn Wylde, President & CEO of the Partnership for New York City, on the Mandatory Inclusionary Housing and Zoning Plans

12.15.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Mayor de Blasio’s Homeless Services Review

12.10.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Common Core Task Force Report

12.10.15

Partnership expresses commitment to a welcoming city in today’s New York Times

12.09.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on World Trade Center Development

12.03.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on the Fixing America’s Surface Transportation Act (FAST Act)

11.24.15

Kathryn Wylde Op-Ed in City & State

11.19.15

Partnership for New York City Releases Third Quarter Economic & Quality-of-Life Indicators

11.18.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Mayor de Blasio’s Supportive Housing Initiative

11.13.15

Stephen A. Schwarzman Announced As Incoming Co-Chair of the Partnership for New York City

11.12.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on the Gateway Funding Agreement

11.05.15

Partnership for New York City Launches Innovation Council

10.26.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on New NYC Criminal Background Check Law

10.21.15

Accenture, Partnership Fund for NYC and Leading Banks Call for Applicants for New York FinTech Innovation Lab 2016

10.20.15

Partnership member BlackRock hosts Global Innovation Summit Featuring Five of the Partnership Fund’s Fintech Innovation Lab Companies

10.19.15

Partnership Fund Portfolio Company Hot Bread Kitchen Featured on the TODAY Show

10.10.15

Statement from Kathryn Wylde, President and CEO of the Partnership for New York City, on MTA Funding Agreement

10.06.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Comptroller DiNapoli’s Wall Street Report

10.01.15

Partnership for New York City Announces 2015-2016 Class of David Rockefeller Fellows

09.29.15

Partnership Fund Life Sciences Portfolio Company, Accelerator Corporation, Completes $62.8 Million Oversubscribed Financing

09.25.15

Partnership Fund President and CEO Maria Gotsch Featured in Wearables Digital

09.21.15

The Partnership and New York Magazine Host “The New New York”

09.21.15

Partnership for New York City Endorses Mayor de Blasio’s Five-Borough Ferry Service Plan

09.15.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Cuomo-Christie Gateway Project Commitment

09.10.15

Partnership Fund’s New York Digital Health Accelerator Announces Selected Companies for 2015 Program

09.09.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on the Reported Proposal for a $15 NYS Minimum Wage

08.26.15

Partnership Fund Portfolio Company OwnEnergy Acquired by EDF Renewable Energy

08.10.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Judge’s Decision to Void the Responsible Banking Act

08.10.15

Watch: Partnership Fund Makes Additional Investment in Hot Bread Kitchen

08.05.15

The Partnership Fund proudly supports the expansion of Citi Bike

08.03.15

Partnership Fund Portfolio Company and FinTech Alum, Digital Reasoning, in the News

07.27.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Governor Cuomo’s LaGuardia Redesign and Plans to Improve Other Regional Airports

06.25.15

Seven Innovative Startups Present New Financial Technologies at New York’s 2015 FinTech Innovation Lab Demo Day

06.24.15

Partnership President & CEO Kathryn Wylde on NY1 Inside City Hall

06.23.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Provisional End-of-session Agreement in Albany

06.18.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on House Passage of Trade Bill

06.17.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, On Disability Pensions for NYC’s Uniformed Employees

06.15.15

New Report: NYC Remains the World Financial Capital, but New Regulations, High Costs, & Growing Competition Threaten the Future of Wall Street

06.10.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on City Council’s Fair Chance Act

06.09.15

Large Employers from Across the Country Urge Congress to Pass Trade Bill – Partnership for New York City Announces Coordinated Campaign With Leaders from California, Colorado, Iowa, Minnesota, New England, Oregon, Pennsylvania & Washington

06.05.15

PHOTOS: Breakfast Meeting With Governor Cuomo

06.02.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Letter of Intent to Build a New Skyscraper at 2 World Trade Center

06.01.15

Top New York City Business Leaders Come Out In Support Of Gov. Cuomo’s “Parental Choice in Education Act” To Increase School Choice Options For Middle & Lower Income Households – Urge NYS Senate Majority Leader Flanagan and NYS Assembly Speaker Heastie to Reach Bipartisan Compromise On Tax Credit

05.28.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Port Authority Board’s Decision to Begin Redevelopment of LaGuardia Airport

05.28.15

Top New York City Business Leaders Urge NYS Senate Majority Leader Flanagan & NYS Assembly Speaker Heastie to Reach Bipartisan Compromise To Extend Mayoral Control of City Schools for At Least Three Years

05.27.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Commercial Rent Tax Proposal Introduced Today in the City Council

05.22.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Senate Passage of Trade Promotion Authority Bill

05.18.15

Statement from Kathryn Wylde, President and CEO of the Partnership for NYC, on Proposed NYC Council Legislation on Commercial Rent Tax

05.12.15

Statement from Kathryn Wylde, President and CEO of the Partnership for New York City, on Today’s Senate Vote to Block Trade Promotion Authority

05.11.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on New York State Advertising Campaigns, Including START-UP NY

05.07.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Mayor Bill de Blasio’s Executive Budget and Capital Plan

05.06.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Mayor de Blasio Signing the Credit Check Bill into Law

05.05.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Mayor’s Center for Youth Employment

05.01.15

Top New York City Business Leaders Urge New York State Congressional Delegation to Support TPA Bill Moving Through Congress – Majority of NYS Congressional Delegation Has Opposed TPA; Business Leaders Urge Them To Reconsider Opposition

04.30.15

Partnership Fund Makes Investment in New Lab

03.06.15

Partnership for New York City Releases 2015 State Budget Priorities

02.12.15

Partnership for New York City Seeks Changes to Credit Check Legislation

02.03.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Mayor de Blasio’s 2015 State of the City

01.31.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Assembly Leadership

01.22.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Governor Cuomo’s 2015 Education Agenda

01.21.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Governor Cuomo’s 2015 Opportunity Agenda

01.18.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on the Governor’s Tax and Minimum Wage Announcement

01.11.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Appointment of Bill Mulrow

01.08.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on the Senate Passage of the Terrorism Risk Insurance Program Reauthorization Act (TRIA)

01.07.15

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on the House of Representatives Passage of the Terrorism Risk Insurance Reauthorization Act (TRIA)

12.12.14

NYC Business Community Comes Out in Support of Antonio Weiss Nomination for Under Secretary for Domestic Finance

12.11.14

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, in support of the Swaps Push-Out Provision in the Omnibus Appropriations Bill

11.19.14

NYSE Acquires True Office, Developer of Interactive Game-Style Training and Graduate of the Fund’s FinTech Innovation Lab

11.13.14

Two Graduates of the Fund’s FinTech Innovation Lab Class of 2014 — Kasisto and Standard Treasury– named on American Banker’s as Top 10 Tech Companies to Watch list

10.28.14

The Partnership Fund’s $5M investment in Bikeshare Holdings LLC supports Citi Bike’s expansion into underserved communities in Brooklyn, Queens and Upper Manhattan

10.23.14

The View on Real Estate: Kathryn Wylde on the MTA’s budget gap

10.22.14

The View on Real Estate: Kathryn Wylde on Wall Street’s decline

10.22.14

The View on Real Estate: Why a pied-a-terre tax is not a good idea

10.20.14

New York FinTech Innovation Lab Calls for Leading-Edge Financial Technology Entrepreneurs to Participate in 2015 Program

10.16.14

Yahoo Signs Long Term Power Purchase Agreement with Portfolio Company, OwnEnergy

10.16.14

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on the Tax Foundation Awarding Governor Cuomo Their 2014 Outstanding Achievement in State Tax Reform

10.13.14

Portfolio Company, Digital Reasoning — graduate of the Fund’s ‘FinTech Innovation Lab’– raises $24M in Series C Round led by Goldman Sachs & Credit Suisse NEXT Investors

10.10.14

Partnership for New York City Announces 2014-2015 Class of David Rockefeller Fellows

10.09.14

Goldman Sachs turns to Portfolio Company, Digital Reasoning — graduate of the Fund’s ‘FinTech Innovation Lab’– to catch rogue bankers

10.03.14

Partnership Fund’s Digital Health Accelerator Gives Much-Needed Boost to Health IT Startups

09.30.14

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

09.10.14

Portfolio Company, Cureatr—graduate of the Fund’s ‘NY Digital Health Accelerator’—wins over big user

09.02.14

The Partnership Fund’s ‘FinTech Innovation Lab’ recognized for contributing to the rapid growth in NYC’s fintech sector

08.20.14

Portfolio company, Kasisto – graduate of the Fund’s ‘FinTech Innovation Lab’ – secures $2.25M in financing to expand footprint in financial services market

08.07.14

Philadelphia Mayor Michael Nutter thinks his city makes more sense than NYC for 2016 Democratic National Convention

07.24.14

Entrepreneurs showcase the latest at the Partnership Fund’s inaugural Demo Day for the NY Fashion Tech Lab

07.23.14

Statement from Kathryn Wylde, President and CEO of the Partnership for New York City, on Standard and Poor’s Upgrade of New York’s General Obligation Credit Rating to AA+

07.22.14

CEOs Call Upon the House Republican Leadership to Promptly Pass Reauthorization of the Terrorism Risk Insurance Act (TRIA)

07.22.14

The Partnership Fund’s ‘NY Digital Health Accelerator’ Announces Program’s 2014 Class of Entrepreneurs

07.17.14

Statement from Kathryn Wylde, President and CEO at the Partnership for New York City, on Passage of Senate Bill (S.2244), the Terrorism Risk Insurance Program Reauthorization Act of 2014

07.09.14

The Partnership for New York City applauds passage of the Workforce Innovation and Opportunity Act

07.09.14

Joint Statement from Partnership for New York City and Long Island Association Regarding MTA-LIRR Labor Negotiations

06.30.14

Statement from Kathryn Wylde, President and CEO of the Partnership for New York City, on today’s development regarding immigration reform legislation

06.26.14

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Bank of New York Mellon’s Decision to Move Headquarters Downtown

06.26.14

Entrepreneurs showcase cutting edge technologies at Partnership Fund’s 2014 FinTech Innovation Lab Demo Day

06.26.14

The Partnership Fund and Accenture’s new report highlights NYC as fastest growing market for financial technology in U.S.

06.24.14

Partnership Meeting with Governor Andrew Cuomo

06.16.14

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Moody’s Investment Services Upgrade for New York

05.29.14

Kimberly Spell Joins the Partnership for New York City As Executive Vice President of Communications

05.28.14

Partnership Meeting with NYC Council Member Julissa Ferreras

05.22.14

Partnership Holds Board Meeting at NY Genome Center with Mayor Bill de Blasio

05.01.14

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Tentative Contract Between City and UFT

04.02.14

NYC Jobs Blueprint: NYC Is A Growing Tech Hub

03.25.14

The Partnership Fund for New York City and Springboard Enterprises Launch the New York Fashion Tech Lab

03.11.14

Reform Business Taxes Now

03.06.14

Partnership Fund’s NY Digital Health Accelerator Accepting Applications for 2014 Class

02.12.14

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Mayor de Blasio’s Fiscal Year 2015 Preliminary Budget

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