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April 10, 2008
Building a better economic outlook
NY Daily News
by Errol Louis
The Daily News columnist praises ESDC honcho Avi Schick and Rebuild! president Darnell Canada for their efforts to keep economic growth on track.
As New York slides into an economic rough patch, hopes for a speedy and robust recovery will lie with the unsung heroes who keep the machinery of growth humming in good times and bad.
I'm talking about people like Avi Schick, acting CEO of the Empire State Development Corp., the state's main economic development agency. Schick is battling to keep complex, high-profile mega-projects alive around the city, including the rebuilding of Ground Zero, the Atlantic Yards development in Brooklyn, the creation of a new midtown train terminal to replace Penn Station and Columbia University's expansion into west Harlem.
Each of these big projects has been slowed or halted of late, for reasons ranging from political squabbling to a credit crunch as investment banks battered by the slowing economy tighten up on loans to developers.
NoLandGrab: This column is a departure for Louis — he passes up the opportunity to blame Atlantic Yards' delays on opponents, instead citing the "souring economy."
Posted by eric at April 10, 2008 11:26 AM