New York City's Growth Strategy Is 'Doomed'

Study says New York City's economic development strategy is "obsolete."
September 8, 2003, 6am PDT | Abhijeet Chavan | @legalaidtech
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"The study, financed by the Rockefeller Foundation and written by a nonprofit group called the Center for an Urban Future, says the city should abandon the "doomed strategy" of favoring a few industries like finance — an approach the study says has left the city increasingly vulnerable to economic shifts.City resources should go instead to improving the climate for small businesses and entrepreneurs, tapping the immigrant population as well as academic and research institutions, and improving basic services so the middle class will not leave the city, according to the study, to be released today."

Thanks to Abhijeet Chavan

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Published on Monday, September 8, 2003 in The New York Times
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