"This agreement with Axis will help revitalize the Brooklyn waterfront by creating jobs, attracting new industries and increasing waterborne transport to relieve truck traffic and improve our environment," says New York City Economic Development Corp. president Andrew M. Alper.

In September, scrap metal processors Hugo Neu Schnitzer East, said it planned to build a $25-million modern recycling facility at SBMT. That facility will create 160 construction jobs and 100 permanent jobs. Over the next 20 years, the city will give the firm all of the metal, glass, plastic and a portion of the mixed paper collected through recycling.

The marine terminal is located between 29th and 39th streets, and between the Bay Ridge Channel and Second Avenue. The EDC recently completed a $21-million project to stabilize the bulkhead on the piers at 33rd, 35th and 39th streets.

In an office transaction that will keep and add jobs here, the New York City Industrial Development Agency approved financing assistance for Independence Community Bank. The bank, which is based in Brooklyn, plans to occupy 177,000 sf at 12 MetroTech Center. The $33.3-million effort is expected to create approximately 510 new jobs and retain 614 others. The company may also qualify for up to $424,000 in discounted energy from the Business Incentive Rate program for the retention of its existing jobs.

The bank considered moving to a facility in Newark, NJ, but with IDA assistance, Independence will be able to remain in Brooklyn. The IDA approved up to approximately $3.4 million in sales- and use-tax exemptions. "By consolidating its main operations facilities at the MetroTech Center in Downtown Brooklyn, Independence will not only be able to keep jobs in the city that were at risk of moving to New Jersey, but it will also create more than 500 new jobs," says Alper, who also serves as IDA president.