A suite of initiatives out of New York City Mayor Bill de Blasio’s office are the backbone of a plan city officials hope will bring 100,000 jobs to the city over the course of the next 10 years.
In an announcement made June 15, de Blasio highlighted 25 initiatives that make up the New York Works plan, which is designed to prompt economic growth in areas like health and technology while addressing the issue of economic inequality.
The initiative will focus largely on “good-paying” jobs that carry salaries of more than $50,000 per year.
“We have to take economic inequality head-on, and that means raising wages and launching more New Yorkers into the middle class. These are the fast-growing, high-paying industries that represent the future of our city, but only if we invest now in the places, the workforce and the infrastructure to compete,” Blasio said in the press release.
Under the plan, the city will:
- invest $30 million to grow the cybersecurity and technology ecosystem in the hopes of bolstering 30,000 jobs;
- invest $500 million to promote life sciences and health care, to the tune of a projected 15,000 jobs;
- improve access to critical industrial and manufacturing assets to bring in 20,000 jobs;
- make strategic investments around the city’s creative and cultural sectors for a projected boost of 10,000 jobs; and
- promote growth in the office districts in Manhattan and the five boroughs.
In total, the plan constitutes more than a $1 billion investment in already-allocated funds, with an additional $250 million set for the upcoming budget cycle.
The plan also includes opportunities for apprenticeships and new businesses in the form of new resources and incentives.
For students, the city’s plan includes new investment in university faculty, and improved work and study programs. For businesses, innovation labs around cybersecurity, digital health, and augmented and virtual reality offer new tools for success.