“The Recovery Budget is a radical investment in working families. It will drive economic growth in every neighborhood, all while building on strong reserves and investing stimulus funds aggressively to put the pandemic behind us, once and for all”, Mayor Bill de Blasio said of his last and New York City’s first post Covid-19 budget. The recovery budget has five pillars:
- Finishing the fight against Covid-19
- Building on strong reserves
- Boosting economic growth in every neighborhood
- Delivering recovery for students
- Public safety
Some of the plans to boost economic growth include:
- Committing $11 million to NYC Business Quick Start, a program that will help slash red tape and help guide small businesses through City regulations.
- Help hundreds of CUNY students and graduates advance toward career success–while boosting the short- and long-term outlook of NYC’s economy:
- CUNY Career Initiative: The Department of Small Business Services will work with CUNY and a set of industry partners to deliver short-term training in high-demand fields leading to job placement for approximately 1,000 New Yorkers ($6.5M in FY22)
- Advanced Manufacturing Career Collective (AMCC): AMCC will create a pipeline of skilled, diverse talent into advanced manufacturing careers through educational and work-based learning experiences. The effort will engage and train an estimated 400 students in year one, scaling up to support over 1,000 New Yorkers annually. AMCC will also strengthen the overall ecosystem of MWBEs focused on advanced manufacturing ($4M in FY22)
New York City’s investments in manufacturing and trades training is welcome news and if done properly will set NYC up for a strong recovery. Many workers, especially younger workers prefer having some level of remote work. Rather than lament the shift to hybrid and work from anywhere models, investment in and promotion of industrial and manufacturing jobs allows NYC to continue as a leader in finance, media, and tech via hybrid models, while creating new avenues for blue collar entrepreneurs who would live in the region and commute daily.