Seth Pinsky

but that two things were going to be occurring in New York. One was that there was one part of the financial services industry that our studies indicated might be less impacted than the rest of the industry, which was venture capital. That was an area that New York had never been particularly successful in. And the second was that as people were being laid off in

but that two things were going to be occurring in New York. One was that there was one part of the financial services industry that our studies indicated might be less impacted than the rest of the industry, which was venture capital. That was an area that New York had never been particularly successful in. And the second was that as people were being laid off in

more traditional New York industries like financial services and professional services, many of which are dependent on financial services, that a lot of talent would suddenly be let loose. And there was a risk that those people would leave the city. So our focus very quickly became two-pronged. One was that we had a goal of trying to tie those people back down to New York.

more traditional New York industries like financial services and professional services, many of which are dependent on financial services, that a lot of talent would suddenly be let loose. And there was a risk that those people would leave the city. So our focus very quickly became two-pronged. One was that we had a goal of trying to tie those people back down to New York.

And two was that we wanted to grow the venture capital sector. And so what we landed on was the idea of trying to promote entrepreneurialism in the city.

And two was that we wanted to grow the venture capital sector. And so what we landed on was the idea of trying to promote entrepreneurialism in the city.

We really focused on making new sources of capital available to entrepreneurs, training people who had never worked in an entrepreneurial environment before in the skills that they would need, not in a large corporation, but in a small startup, and creating spaces that would allow them to start these businesses and get support.

We really focused on making new sources of capital available to entrepreneurs, training people who had never worked in an entrepreneurial environment before in the skills that they would need, not in a large corporation, but in a small startup, and creating spaces that would allow them to start these businesses and get support.

What we started to see, which really surprised us, was that the businesses that people were founding tended to be technology businesses. And so we began to really focus on growing the technology industry in the city. We eventually put together a roadmap for achieving that goal

What we started to see, which really surprised us, was that the businesses that people were founding tended to be technology businesses. And so we began to really focus on growing the technology industry in the city. We eventually put together a roadmap for achieving that goal

the flagship initiative of which was the creation of a new engineering and applied sciences campus that was built by an Israeli university, the Technion in Cornell on Roseville Island, which is in the East River between Manhattan and Queens. It was a $2 million investment. And I'm pleased to say that today it has hundreds of students and

the flagship initiative of which was the creation of a new engineering and applied sciences campus that was built by an Israeli university, the Technion in Cornell on Roseville Island, which is in the East River between Manhattan and Queens. It was a $2 million investment. And I'm pleased to say that today it has hundreds of students and

is turning out new businesses and new talent that's fueling the growth of what is now, by everyone's estimation, not only probably the second most important industry in the city behind Wall Street, but also an industry that has now made New York the number two center of technology anywhere in the country and maybe anywhere in the world.

is turning out new businesses and new talent that's fueling the growth of what is now, by everyone's estimation, not only probably the second most important industry in the city behind Wall Street, but also an industry that has now made New York the number two center of technology anywhere in the country and maybe anywhere in the world.

A lot of it was about zoning and making sure that there were areas that were zoned so that they could become alternative central business districts for the city.

A lot of it was about zoning and making sure that there were areas that were zoned so that they could become alternative central business districts for the city.

And so we looked at areas like the Brooklyn and Queens waterfront, Long Island City, Williamsburg, Greenpoint, places that today are thriving and booming areas, but back at the beginning of the administration had suffered from underinvestment for decades. We looked at areas like downtown Jamaica and downtown Brooklyn in the areas of the South Bronx and Harlem.

And so we looked at areas like the Brooklyn and Queens waterfront, Long Island City, Williamsburg, Greenpoint, places that today are thriving and booming areas, but back at the beginning of the administration had suffered from underinvestment for decades. We looked at areas like downtown Jamaica and downtown Brooklyn in the areas of the South Bronx and Harlem.

Another part of it was making strategic investments to spur development, to kind of get the flywheel turning in many of those areas, using city-owned land to attract developers, getting them to build buildings. Projects that then would spur further development around them, making investments in infrastructure around those neighborhoods from parks to schools to cultural institutions and such.

Another part of it was making strategic investments to spur development, to kind of get the flywheel turning in many of those areas, using city-owned land to attract developers, getting them to build buildings. Projects that then would spur further development around them, making investments in infrastructure around those neighborhoods from parks to schools to cultural institutions and such.