How our city’s investments become investments in New Yorkers. When we say economic justice and economic growth go hand in hand, this is an example of what we mean.
For decades economic development has relied on tax breaks and subsidies for the largest corporations, a trickle-down approach that too often falls short.View quoted post on X
@NYCMayor and @NYCEDC are charting a new path.
In the first deal of its kind in NYC history, the public is investing $30 million in a quantum lab - in exchange for three board seats and 15% of the revenue generated from technology it creates.
And if any firm coming out of the lab merges, gets acquired, or IPOs, the city gets a payout.
When public dollars are invested, the public should share in the wealth and innovation those investments create.
nytimes.com/2026/10/14/nyr…