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Creating Jobs and Investing in New York City's Future - Mayor Michael Bloomberg

Creating Jobs and Investing in New York City's Future

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Last week we received some good news. According to the latest reports from the State Department of Labor, New York City is leading the nation in job growth. Since the beginning of 2010, our city has gained more than 78,000 private-sector jobs, while the nation as a whole has gained about 760,000. That means more than one out of every 10 new jobs in the country was created right here in New York City. One of every 10 new jobs in all 50 states is located in the five boroughs. The city's job gains also account for virtually all of the job gains in New York State.

Luna Park, Coney Island

Image by Paul Lowry via Flickr

I know that many New Yorkers are still struggling to find work. But don't 
lose hope. The national recession has hurt cities across the country, but New York is starting to rebound faster and further than other places. And the job opportunities here are only going to get better.

The growth we're experiencing today is directly tied to the targeted five-borough investments we've continued to make -- even through the deepest months of the recession. Take, for example, Coney Island. As part of the city's Coney Island Revitalization Plan, we invested over $6 million to support the opening of the new Luna Park, which spurred another $30 million in private investment. Already those investments are paying big dividends. Coney Island has emerged as this summer's major blockbuster; the new amusement park drew 400,000 visitors -- making this Coney Island's busiest season since the historic Steeplechase Park closed in 1964.

All told, more than 14 million people visited Coney Island's beach and boardwalk -- that's more than four times the number of visitors last summer. And you can bet that many Coney Island restaurants and businesses saw the impact of the bigger crowds in higher sales and profits.

For those of you who aren't ready to say goodbye to summer -- or to Coney Island -- well guess what? You won't have to! Because of the overwhelming success of the first season, Luna Park has decided to remain open through the end of October. Starting October 15, the park will feature new Halloween-themed programs.

This summer's opening of Luna Park is just the beginning of a dramatic transformation that will establish Coney Island as a world-class, 21st century amusement park and create a vibrant residential area with new retail options and nearly 5,000 new homes, including affordable homes. There are so many people to thank for ushering in this new and hopeful era for Coney Island, and two names that really stand out are Marty Markowitz, the Brooklyn borough president, and Councilman Domenic Recchia.

Revitalizing Coney Island will also create more than 25,000 new construction jobs and 6,000 permanent jobs. Our investments there, along with our investments in neighborhoods across the five boroughs, will help keep our city's economy growing for years to come.

1 Comment

Well how did that rebound work out? Seriously it is these sort of projects that will be cut soon. When are people going to realize you can only reduce the deficit and maintain growth by increasing taxes. There is a reason for this and its called “Mathematics”. Last time I checked it was fairly well respected and proven, but then again so is evolution and..................

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