All topics / Promoting Viable Communities and Neighborhoods / New York City Economic Development Corporation
Businesses served by industry-focused programmatic initiatives
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.
* Year to date — this fiscal year isn't complete, so it's not compared against prior years in the target/trend status above.
View as table
| Fiscal year | Actual |
|---|---|
| FY22 | 6,301 initiatives |
| FY23 | 4,759 initiatives |
| FY24 | 6,034 initiatives |
| FY25 | 5,553 initiatives |
| FY26 (YTD) | Not available |
5,553 initiatives in FY25 — has no numeric target set by the City, and it has trended in the wrong direction over the past 3 years of reported data.
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: Initiatives — via NYC Open Data: Mayor's Management Report, Agency Performance Indicators
Coverage shown: FY22–FY26, reported pmmr/mmr.
Definition: The number of businesses actively enrolled in NYCEDC’s programmatic initiatives, including NYCEDC’s incubator network and centers for excellence, technology competitions, partnership funds and programmatic ventures throughout the five boroughs. Data reported in the Preliminary Mayor’s Management Report is for the quarter ending in September.