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Projected three-year job growth associated with closed Build NYC 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.
Build NYC's projected job-growth figures track how many financing deals it closes each year. Fiscal 2024's dip to 80 jobs came after Build NYC closed only 6 contracts, down from 13 in Fiscal 2023, a slowdown EDC attributed to the high-interest-rate environment discouraging bond financings; Fiscal 2025's rebound to 396 jobs followed a larger slate of deals, including bonds for a JFK Airport cargo facility and the 92nd Street Y's renovation.
Researched July 16, 2026 — NYCEDC, Fiscal 2024 Mayor's Management Report, NYCEDC, Fiscal 2025 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 | 308 projects |
| FY23 | 332 projects |
| FY24 | 80 projects |
| FY25 | 396 projects |
| FY26 (YTD) | 418 projects |
| FY26 (projected) | ~557 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 Build NYC Resource Corporation (Build NYC) projects. The data is compiled in the year that the transaction closes and includes the estimated number of new jobs projects are expected to create during the first three years of the contract. Build NYC, a local development corporation incorporated under the New York Not-for-Profit Corporation Law, is administered by NYCEDC and assists qualified not-for-profit institutions and other entities in obtaining tax-exempt and taxable bond financing. As a conduit bond issuer, Build NYC’s primary goal is to facilitate access to private activity tax-exempt bond financing for not-for-profit institutions to acquire, construct, renovate and/or equip their facilities.