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December 1, 2009
In Bloomberg statement on AY, inflated jobs figures come from FCR; by contrast, ESDC projections are more conservative
Atlantic Yards Report
If Atlantic Yards is such a great project, why do the politicians need to repeat developer Forest City Ratner's lies about the benefits?
From Mayor Bloomberg's radio address last Friday:
All told, Atlantic Yards is expected to create some 8,000 new permanent jobs in Brooklyn. More immediately, building it is also going to produce nearly 17,000 of the new union construction jobs that New Yorkers need.
Norman Oder explains:
Well, not exactly. Those figures--17,000 "construction jobs" and 8000 permanent jobs--come directly from Forest City Ratner's press release rather than a governmental source.
By constrast, the Empire State Development Corporation (ESDC), in its 2009 Modified General Project Plan, projects 12,568 new direct job-years and 21,976 total job-years (direct, indirect, and induced) for project construction and 4,538 new jobs in New York City (direct, indirect, and induced).
Keep in mind that the 17,000 jobs--overstated--would be in job-years, and that all figure presume a project buildout over a decade, which is highly doubtful. For example, a good portion of those new permanent jobs would be in an office tower, but there's no market for office space right now, as Bruce Ratner recently told Crain's.
NoLandGrab: By the same logic, Bloomberg has been elected to "four more jobs."
Posted by lumi at December 1, 2009 5:15 AM