In dumbfounding news, a company isn’t getting any public money from New Jersey for relocating nearly 400 jobs into the state. Actavis, a global pharmaceutical company, was in such a hurry to close up shop in Long Island that they passed up what likely might have been $5 to $10 […]
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The bodiless heads: company HQs on the move
Cadillac’s just-announced plans to relocate its headquarters to New York City may be part of a budding shift: companies that want to sell fancy consumer products are sometimes staking flags in the fancy places where their consumers live, experts said. The pull isn’t just about the finance and media […]
A Tale of Two Developments… No Wait A Minute
Affordable housing is one of the pillars of Mayor Bill de Blasio’s administration. And the proposed rezoning at Astoria Cove, that skated through the City Planning Commission and is now reaching the City Council for debate, is the administration’s pivotal moment for putting that policy into place. But as […]
New York Doesn’t Like to Share
Last week San Francisco created a legal framework for short-term rental companies, marking an important victory for their homegrown sharing startup, Airbnb. The new legislation will permit Airbnb hosts to rent out rooms in their homes so long as the they live there at least nine months out of […]
Some city homeowners begin opting for razing when rebuilding seems to fail
Homeowners on the city’s shores have had just about enough of being washed out. With the two-year anniversary of Sandy approaching later this month, only a small percentage of the homes that applied for rebuilding have seen construction begin. With Build it Back generally considered a failed response to the […]
With condo prices in the sky, young bankers rent instead
As city real estate prices soar, Wall Street’s woes are behind one overlooked aspect of the rental rise: uncertain young bankers renting apartments rather than buying. Finance workers have long driven the real estate market in New York. Before the financial crisis, that took the form of big condo and […]
Aqueduct developers will have to pitch better transit to soccer stadium
It seems wherever Major League Soccer wants to build a stadium in New York, there’s a problem. In Flushing Meadows-Corona Park, there were issues with removing a big chunk of the park. There were problems with a landlord in the Bronx. And, if approved, the league will have to grapple […]
Charter School Rally Calls Attention To Failing Public Schools
Charter schools are keeping the pressure on Mayor de Blasio concerning their future and impact on New York City kids. Two weeks ago, Families for Excellent Schools hosted a rally that gathered about 10,000 charter school supporters according to crowd-controlling police officers. It called for city officials to address the issue […]
Employers That Don’t Pay Might Never Have to
Alfredo Alegria worked six-day weeks for 2000 Homes Inc., a company that buys houses in disrepair, then renovates and flips them for a profit. Alfredo earned $120/day carrying, drilling and installing 40 pound sheetrock walls and flooring. One day, at the end of Alfredo’s shift, his boss told him he […]
Next Top Makers Represent Innovation in New York Manufacturing
Do-it-yourself and local manufacturing continues to innovate the New York City industrial sector while the industry experiences modest growth and stabilization after decades of steep declines. The six fellows of New York’s Next Top Makers incubator program announced last week exemplify what people in the maker movement see as the […]
NYC BIZ NEWS
Welcome to NYCBizNews.com, a site covering the city's economy as a crucial mayoral election looms. You will find stories on jobs and unemployment, manufacturing, tourism, small business and real estate. A separate section takes the pulse of the city's emerging tech sector. The site is produced by reporters at the New York City News Service and the CUNY Graduate School of Journalism. Email your comments to greg.david@journalism.cuny.edu.