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March 11, 2010
Ceremonial Groundbreaking for Barclays Center at Atlantic Yards in Brooklyn
Forest City Ratner Chairman Bruce Ratner, Barclays PLC President Robert E. Diamond, Jr., And NETS Investor and Cultural Icon Shawn "JAY-Z" Carter to Celebrate The Next Phase of Construction
Forest City Ratner Companies Press Release via MarketWatch
Follow the link below to Marketwatch for the full Forest City press release; here are some "highlights."
It is anticipated that Atlantic Yards will generate over $5 billion in new tax revenues for the State and the City over the next 30 years and will create upwards of 17,000 union construction jobs and up to 8,000 permanent jobs when the entire project is completed.
"It is anticipated?" By whom? Forest City is sticking with its phony claims of $5 billion-plus in tax revenues and 8,000 permanent jobs no matter how hollow they may be.
When we announced Atlantic Yards in December 2003, we anticipated that this project would create buzz and excitement for the borough and the City as well as needed jobs and affordable housing," said Mr. Ratner. "We did not at the time appreciate that Atlantic Yards would be such an important economic engine. The fact that we can start construction in this financial environment is testament to the lasting appeal of New York City. We are a City that continues to grow and prosper and Atlantic Yards will for many years stand as a reminder that we can build and create jobs and homes and dreams even during the most difficult of economic times."
Actually, the fact that they can begin construction in this financial environment is testament to the millions and millions in state and city subsidies Ratner is receiving, including a huge discount on land and sweetened payment terms, to boot.
Plenty more hyperbole via the link.
Posted by eric at March 11, 2010 7:41 PM