NEW YORK CITY-The city budget proposal authored by Mayor Bill de Blasio would cut the $1.1-million allocation earmarked for industrial business zones.
The funding was for the city's Department of Small Business Services to provide consulting for industrial businesses in the Bronx, Brooklyn, Queens and Staten Island. The city's Economic Development Corp. also has three staffers helping manufacturers that are funded out of that agency's budget, according to Crain's New York Business.
The industrial business zone program was established by former Mayor Michael Bloomberg in 2006 when he designated 16 industrial business zones in the outer boroughs. The thrust of the plan was to keep industrial and manufacturing businesses operating in the city by utilizing tax credits and city funding. However, since its launch funding for the program has decreased over time. See story in Crain's New York Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
