Overview

New York is the world’s premiere city of opportunity. It is the economic powerhouse that sustains America’s position of leadership in the global economy and provides a universal gateway to the upward mobility that is uniquely possible in this country. This report intends to lay the groundwork for the actions and partnerships that local government, organized labor, the private sector and civic groups will need to undertake in order to maintain New York’s status as the pre-eminent city of opportunity over the next decade.

To prepare this report, the Partnership for New York City relied upon input from its members, who represent the city’s business leaders and private sector employers, as well as a number of respected urban experts. It draws on information and analysis provided by the Brookings Metropolitan Policy Program and fact-based research and analytical support from McKinsey & Company.

Report Highlights

New York City faces a number of challenges to continued economic growth:

Regulation
High costs and a tough regulatory and legal environment make New York City the most expensive place in the country to build a business.

Education/Jobs Mismatch
There is a growing shortage of qualified workers for available jobs.

Infrastructure
The city’s infrastructure and transportation systems require significant investment to address vulnerabilities revealed by Superstorm Sandy and to expand services to new centers of employment.

Key Takeaways

The report finds a number of poroposals to help NYC achieve benchmark aspirations for real GDP growth, productivity growth, middle-wage job creation, and reduction in unemployment.

Affordable Living
Optimize existing housing resources and reduce costs of housing construction.

Greater Connectivity
Pursue universal and redundant connectivity and advocate for improved airports

Efficient City Government
Eliminate the structural budget deficit, recruit strong, tech-savvy managers and reform property taxes.