Cuomo Unveils Jobs & Economic Development Agenda During Address to Manhattan Chamber of Commerce
New York, NY – Andrew M. Cuomo, candidate for mayor of New York City, today detailed key parts of his jobs and economic development agenda during a meeting with members of the Manhattan Chamber of Commerce.
Cuomo’s plan of action comes amid recent data showing that fewer than 1,000 private-sector jobs were added in the first half of 2025 – the slowest pace outside of a recession or pandemic in more than two decades. This anemic growth coupled with looming government budget deficits – estimated to be $17.1 billion over three years – and declining federal aid represents a “nightmare scenario” for working New Yorkers, Cuomo said.
“If a city isn’t growing, it's dying and for far too long government has been an obstacle instead of a driver of growth,” Cuomo said. “The Chamber of Commerce understands the challenges, and I pledged to them that my administration will do everything in its power to be a responsible partner and together we’ll keep New York’s economy moving and help to ensure a vibrant and prosperous city for current and future generations of New Yorkers.”
Key parts of the Governor’s plan include:
- Launching a five-year $1.5 billion Five-Borough Economic Transformation Capital Fund to attract major job-creating projects across all boroughs, funded within the city’s $173.4 billion capital budget and private co-investment.
- Implementing a 90-day fast-track review of the regulatory environment to cut red tape and accelerate business growth.
- Fostering the next generation of home-grown startups by converting underused city property into tech, clean energy, and advanced manufacturing hubs.
- Expanding the city's minority- and Women-Owned Business Enterprises (MWBE) participation goal to 35 percent for eligible contracts..
- Offering $50,000 to $100,000 startup innovation grants and five years of no city taxes for NYC-grown startups that create jobs.
- Creating a Global Startup Gateway to attract foreign and out-of-state entrepreneurs with incubator access and seed funding support.
- Investing $100 million in parks and open space to improve livability.
- Boosting tourism by creating cultural districts, attracting major sporting events and conventions, and streamlining permitting for global conferences.
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