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Projected three-year job growth associated with closed NYCIDA projects
Ensure businesses, investors, and employees have confidence in New York City. — Strengthen business confidence and the City's competitive position to help grow the City's economy.
This indicator reflects the size and number of individual tax-incentive deals the NYC Industrial Development Agency (NYCIDA) closes each year, so it can swing sharply based on a few large transactions rather than a steady trend. The Fiscal 2025 jump to 239 projected jobs came as NYCIDA closed 20 contracts, more than double Fiscal 2024's 8, including financing for an offshore-wind terminal at the South Brooklyn Marine Terminal and NYCIDA's first deal under its new Manhattan office-tower conversion program (M-CORE).
Researched July 16, 2026 — NYCEDC, Fiscal 2025 Mayor's Management Report, NYCEDC, Fiscal 2023 Mayor's Management Report
* Year to date — this fiscal year isn't complete, so it's not compared against prior years in the target/trend status above. The dashed marker projects a full-year estimate at the current year-to-date pace.
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| Fiscal year | Actual |
|---|---|
| FY22 | 115 projects |
| FY23 | 152 projects |
| FY24 | 169 projects |
| FY25 | 239 projects |
| FY26 (YTD) | 2,754 projects |
| FY26 (projected) | ~3,672 projects |
Why this is tracked
NYCEDC was formed in 1991 through the merger of two predecessor entities: the Public Development Corporation, founded in 1966 to combat economic decline by redeveloping and marketing city-owned property (including projects like the Brooklyn Army Terminal and South Street Seaport), and the Financial Services Corporation, created in 1979 to finance business expansion with city-issued bonds. That original purpose, giving businesses confidence to locate and invest in the city, remains one of EDC's stated core services today, alongside growing industries, building neighborhoods, and delivering infrastructure.
New York City Economic Development Corporation - Wikipedia, NYCEDC | Building Strong Neighborhoods. Creating Good Jobs.
Source: Compliance & Strategic Investments Group — via NYC Open Data: Mayor's Management Report, Agency Performance Indicators
Coverage shown: FY22–FY26, reported monthly.
Definition: The number of jobs that companies retain and create in connection with closed New York City Industrial Development Agency (NYCIDA) projects. The data is compiled in the year that the transaction closes and may include the estimated number of new jobs that projects are expected to create during the first three years of the contract. NYCIDA is a state public benefit corporation created under New York State law with the capacity to provide financial assistance to commercial, industrial and, until January 31, 2008, not-for-profit organizations.