Industrial Policy

Today, Mayor Michael Bloomberg and City Council Speaker Christine Quinn announced a series of new initiatives to support New York City's manufacturing sector, by increasing access to modern industrial space, creating new financing resources -- including a new capital fund targeted to food businesses -- and strengthening connections between manufacturers and the city's economic development agencies.

New initiatives include a $10 million fund through Goldman Sachs 10,000 Small Businesses program that will capitalize food businesses combined with investments in reopening a building at East Harlem's La Marqueta as a food processing space. A new Industrial Business Advisory Council is one of the vehicles through which the City's economic development agencies will stay informed about the ever-evolving needs of manufacturing businesses.

The Pratt Center participated in the announcement with a statement of support. “The initiatives announced today are important building blocks in the creation of a modern manufacturing sector,” said Pratt Center Director Adam Friedman. “Renovating and right-sizing space, promoting high-design, high-value sectors that provide quality jobs, and moving to strengthen zoning protection of valuable manufacturing land are important steps toward ensuring that the sector can thrive and grow in New York City.”

Read the news release here.