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December 29, 2009
How many jobs, really? ESDC quietly added nearly 4000 construction job-years between June and September
Atlantic Yards Report
So, how many jobs would there be at the Atlantic Yards project?
The numbers are confusing, as the Empire State Development Corporation (ESDC) in September significantly changed its projection on construction jobs without explaining exactly why. And Forest City Ratner, in its most recent press release, has doubled the number of permanent jobs projected.
Not only did the Empire State Development Corporation jack up the figures by "nearly 4000 construction job-years" from 12,568 to 16,427, but the developer inflated them further, and then, as an added bonus, threw in some totally bogus figures:
Those numbers were distorted somewhat in Forest City Ratner's press release last week after the master closing. The developer stated:
Atlantic Yards will create close to 17,000 union construction jobs, as well as 8,000 permanent jobs once the project is complete.
While I initially thought the figure of 17,000 construction jobs was way off base, given the longstanding estimate of 12,568 job years, it's not as far off base. Still, it should be job years, not jobs. And 16,427 is not "close to 17,000;" rather, it's closer to 16,000.
Also, the claim of 8000 permanent jobs is bogus. Remember, the ESDC memo and FCR legal memo both claim 3998 jobs in New York City and 4277 jobs in New York State, inclusive of New York City. Whoever wrote the press release apparently added those two figures together.
NoLandGrab: Again, we wonder, if Atlantic Yards is such a great project, why is the developer constantly lying about it?
Posted by lumi at December 29, 2009 6:29 AM