New York City Economic Development Corporation

Innovative Programs And Incentives Have Created A More Diversified Downtown Manhattan.

This past decade, Lower Manhattan has evolved from being known almost exclusively as the heart of finance to its present incarnation as home to a diverse suite of industries, all thriving alongside New York’s financial center.

Today, thousands of companies have set up shop Downtown, drawn to the unique spaces and opportunities in the neighborhood and alleviating the significant losses of capital, personnel and real estate investment the area experienced in the aftermath of 9/11, and the economic downturn of 2008.

In the media and tech industries alone, more than 600 companies are bustling south of Chambers Street. The diversity of these companies includes the likes of Booker, which provides cloudbased service management platforms; Control Group, which partners with innovative companies to optimize their products, spaces and technology for the digital age; and even Delivery.com, which you may have used recently to order food online.

And that’s only part of the momentum. In addition to the rebuilding and highly-anticipated opening of the World Trade Center, more than $30 billion in public and private investment has revitalized the area, helping to transform the waterfront and creating the essential infrastructure and capacity to support new legions of workers and residents.

The City’s investments in infrastructure include the ongoing work on the East River Waterfront Esplanade, which has created new active recreation opportuni- ties for New Yorkers, while connecting them to the waterfront. In addition, the East River Ferry service has created a sustainable and convenient transportation option that connects Lower Manhattan with neighborhoods in Brooklyn and Queens, attracting more than three mil- lion passengers since its launch. Programs such as ConnectNYC Fiber Access and WiredNYC have bolstered the region’s development by helping businesses and New Yorkers access more affordable broadband opportunities.

To capitalize on this progress and further encourage the neighborhood’s economic diversification and resurgence, the City launched a competition called Take the HELM (Hire and Expand in Lower Manhattan). This initiative, which has completed two rounds so far, offers innovative companies $250,000 for moving to, or expanding in, the neighborhood, garnering more than 600 applications between two rounds. As a result, several companies such as Paperless Post, SiSense and the Flatiron School have also made the move to Lower Manhattan. [Continues…]

By Eric Gertler Executive Vice President, New York City Economic Development Corporation

Southern Hospitality is the Innovation article of DOWNTOWN’s Summer 2014 edition. If you would like to continue reading the entire article, you can find our latest issue on newsstands now! Or you can subscribe to DOWNTOWN Magazine for home delivery by clicking here.

[slideshow_deploy id=’45957′]

It has been a long two years coming, but Pier 15 is back in business.

Recovered and rejuvenated, since its battering from SuperStorm Sandy, the Pier has reopened to the public on the East River Waterfront. Making the occasion doubly festive was the launch of Hornblower Cruises & Events which offers river dining, sightseeing, entertainment and educational cruises against the beautiful backdrop of New York City.

The pier is a gleaming new destination on the East River Esplanade, drawing praise from community residents and leaders as a sign of the area’s full recovery from the devastating 2012 storm.

The city leased the pier to Hornblower Cruises in early 2012, and the company was lauded by Community Board 1 Chair Catherine McVay-Hughes for remaining committed to the location even after it suffered extensive damage from the natural disaster.

“It’s important that the East River Esplanade and Pier 15 are properly maintained,” Hughes told the large crowd which gathered to celebrate the Pier’s return to active duty and to welcome Hornblower Cruises to the neighborhood. The company is expected to generate 100 new jobs, helping to respond to the economic shortfalls caused by the storm. Several shops and restaurants, including the Seaport Museum, are still closed and under repair.

Other dignitaries in attendance included Councilwoman Margaret Chin, new Downtown Alliance President Jessica Lappin and DOWNTOWN Magazine CEO and President, Grace A. Capobianco.

“The launch of Hornblower’s operations at Pier 15 is an exciting milestone of the East River Waterfront Esplanade project,” said Zachary Smith, Chief Operating Officer of the NYCEDC. “By creating new amenities and increasing access we are making New York City’s waterfront a place everyone can enjoy.”

In response to the anticipated increase in activity as a result of the pier’s revitalization, the city’s tourism department, NYC & Company has set up a new visitor center at the pier. Visitors will be able to access of information screens, concierge terminals, and digital touch screen kiosks that will provide up-to-date information on attractions, nightlife activities and any other hot spot that are exploration worthy for tourists in any of the five boroughs.

“We couldn’t think of a better place—or better partners—for our newest Official NYC Information Center location,” said Fred Dixon, NYC & Company President and CEO. ” We’re confident that this partnership will provide visitors with a richer and more dynamic experience in the Seaport and Lower Manhattan.”

Hornblower will also partner with the city’s official maritime public school, The New York Harbor School to offer courses on boating safety and pier maintenance.

Currently, the schools students are working on a project to cleanse The East River called “The Billion Oysters Project.” The goal is to transport large numbers of oysters into the river to provide a natural filtration system, making it a more popular recreational body of water.