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New York City mayor seeks $250 mln to help create 100,000 jobs
June 15, 2017 / 8:11 PM / 5 months ago

New York City mayor seeks $250 mln to help create 100,000 jobs

NEW YORK, June 15 (Reuters) - New York City Mayor Bill de Blasio on Thursday laid out a 10-year plan for the city to create 100,000 well-paying private sector jobs, in part through direct city investments, a goal he set earlier this year.

His administration said it would seek an additional $250 million in updated budget proposals in November and April in support of the plan, on top of the $1 billion the city is already spending on existing economic growth programs.

The administration makes regular budgetary changes based on revised revenue estimates, management needs or policy changes.

Anthony Hogrebe, spokesman for the city’s Economic Development Corporation, said in a telephone interview that no new taxes, fees or other revenue generators were needed to pay for the program. The money would come from existing city or EDC funds, he said.

However, other than the additional $250 million, the 60-page plan lays out little new spending and no changes to existing tax incentive programs for businesses.

De Blasio, a Democrat, is up for re-election in November. His approval rating soared to 60 percent in a Quinnipiac University poll last month, which also found that he would beat two declared Republican challengers by 3 to 1 margins.

In his February state of the city address, De Blasio touted the 100,000 new jobs goal but did not say how it would be accomplished.

Under the plan, called New York Works, the city is focusing on jobs with salaries of at least $50,000 in cybersecurity, life sciences and healthcare, manufacturing, and creative and cultural industries.

Asked about the timing of the plan’s release and whether it was in support of de Blasio’s re-election bid, Hogrebe said it was meant to pull together different efforts into a single strategy “to ensure we were all focused on delivering a specific kind of job.”

The plan is focused on creating jobs that fall between the very top and very bottom of the income spectrum, which have been left out of private sector growth, he said.

“It pulls together work that we have been doing since day one of this administration, with some recently developed and previously announced initiatives, and acknowledges that this is a 10-year plan,” Hogrebe said.

The 100,000 new jobs would be in addition to natural job growth, Hogrebe said.

State labor department data projects that more than 209,000 jobs with median salaries of at least $50,000 are to be created in New York City between 2012 and 2022, the most current forecast available. (Reporting by Hilary Russ; Editing by Daniel Bases and Dan Grebler)

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