Mayor Adams Announces Rebuild, Renew, Reinvent Blueprint for NYC's Economic Recovery

MAYOR ADAMS TO “REBUILD, RENEW, REINVENT,” UNVEILS BLUEPRINT FOR NYC’S ECONOMIC RECOVERY

Plan Will Help Deliver Accelerated Recovery, Built on Equity and Inclusivity

Five Pillars, With More Than 70 Concrete Initiatives, Will Create Opportunities and Connect New Yorkers Seeking Work, Help Speed Return to Pre-Pandemic Employment Levels

Major New Capital Investments in Hunts Point Produce Market and Surrounding Community to Support Modernization of Critical Food Supply Facilities and Help Neighborhood Thrive

Blueprint Outlines “New New York” Blue-Ribbon Panel to Re-envision Central Business Districts, Lays Foundation for City’s Economic Future, With Investments in Small Businesses and Emerging Industries

New York City Mayor Eric Adams today released “Rebuild, Renew, Reinvent: A Blueprint for New York City’s Economic Recovery,” which outlines the mayor’s vision for the city’s economic recovery and the future of the city’s economy — all built on equity and inclusivity. The COVID-19 global pandemic devastated the city’s economy, but New York City is now on the cusp of an economic resurgence, and the mayor’s plan seizes on a once-in-a-generation opportunity to reinvigorate the city’s economy in the short and long terms. The blueprint specifically aims to accelerate the return to pre-pandemic employment levels, while simultaneously laying the foundation for the city’s economic future — addressing historic injustices and reimagining outdated ways of doing business.

The plan to accelerate the city’s recovery and build a more resilient economy rests on five key pillars:

1. Restarting our city’s economic engines and reactivating the public realm;

2. Supporting small businesses, entrepreneurship, and a more equitable economy;

3. Driving inclusive sector growth and building a future-focused economy;

4. Connecting New Yorkers to quality jobs and in-demand skills; and

5. Planning and building for inclusive growth now and in the future.

While this moment in the city’s post-COVID economic recovery holds great potential, significant challenges continue to face parts of the city. More than 26,000 businesses have closed, while many offices remain shuttered; unemployment among Black New Yorkers remains more than three times the national average at 15 percent; and tourism remains far below pre-pandemic levels, depriving the city of much-needed economic activity.

Tackling these challenges will require a comprehensive, collaborative effort bringing together the business community, labor unions, neighborhood advocates, faith leaders, educators, and New Yorkers across the five boroughs. Mayor Adams’ blueprint represents the first stage of that effort.

Hunts Point Produce Market

772 Edgewater Rd

Bronx, NY 10474

March 10, 2022