EDA Grant Awarded to Brooklyn Alliance to Complete a Comprehensive Economic Development Strategy
New ground was broken at the 17th Annual Building Brooklyn Awards at 1 Hotel Brooklyn Bridge on Thursday, July 13, 2017. The Brooklyn Chamber of Commerce announced, at the evening event, that the United States Department of Commerce Economic Development Administration (EDA) has awarded The Brooklyn Alliance, the non-profit arm of the Brooklyn Chamber, an EDA Planning and Local Technical Assistance Grant to complete a Comprehensive Economic Development Strategy (CEDS) for the borough.
A CEDS is a strategic plan for economic development. Currently, there is no EDA approved CEDS for Brooklyn. The EDA award allows the borough economic leadership to advocate for itself, on a federal level, by analyzing the regional economy and serving as a guide for establishing regional goals and objectives, developing and implementing a regional plan of action, and identifying investment priorities and funding sources.
Part of the CEDS will focus on encouraging job growth and business expansion in neighborhoods that have struggled with revitalization. It will focus on where infrastructure investment should be made, identify opportunities for incubators and other job generating capital investments. The plan will also address workforce issues such as skills development, challenges small businesses face like access to capital, and the important role of minority and women business enterprises to the Brooklyn economy.
The scope of what this long-term strategy means for Brooklyn is exciting and necessary for the growth of the borough. It propels us to plan for Brooklyn’s next rezonings, its incubators, infrastructure and transportation needs, and everything in between,” said Brooklyn Chamber of Commerce President and CEO Andrew Hoan. “And, of course, this would not be possible without the dogged advocacy of the entire federal delegation to Congress and from our elected leaders and economic development agencies in the city and state.”
“This EDA grant will provide the Brooklyn Alliance with the resources it needs to create new jobs, attract new businesses and make key infrastructure upgrades throughout Brooklyn. The Brooklyn Chamber of Commerce has a strong track record of advocating for businesses throughout the borough and that’s why I supported their application for this grant. I am confident that the Brooklyn Alliance’s Comprehensive Economic Development Strategy will provide the local workforce and business community with the skills and expertise needed to give them an edge and compete successfully on the global stage,” said U.S. Senate Minority Leader Charles E. Schumer.
“If we want our economy to grow and create more good-paying jobs, we need to give our local leaders, workers, and entrepreneurs the tools they need to build successful businesses,” said U.S. Senator Kirsten Gillibrand. “I congratulate the Brooklyn Chamber of Commerce on receiving this hugely important EDA Planning and Local Technical Assistance Grant to complete a Comprehensive Economic Development Strategy for the borough. I will continue to urge Commerce Secretary Ross to fund projects like this one to help the Brooklyn Alliance provide additional services to launch and grow local businesses in the community.”
“In recent years, Brooklyn has become a hotbed of entrepreneurship and these resources will amplify and replicate that success. I’m proud to see these federal resources dedicated to establishing a comprehensive plan for Brooklyn’s ongoing development and, especially, creating greater opportunity in communities that have too often been overlooked,” said U.S. Representative Nydia M. Velázquez.
"As a supporter of the Brooklyn Chamber of Commerce's application to the US Department of Commerce, I am delighted to learn that the EDA approved this grant award to develop a Comprehensive Economic Strategy (CEDS) for Brooklyn, especially as there is no current CEDS in effect for the Borough. The CEDS is part of a strategy that will concentrate on job growth and business development in neighborhoods in need of extensive revitalization,” said U.S. Rep. Jerrold Nadler. Congratulations to the Chamber and its Brooklyn Alliance for its leadership in moving ahead yet again to secure a competitive edge in Brooklyn’s increasingly vibrant economic environment.”
“In the midst of Brooklyn’s economic boom, some neighborhoods continue to struggle as a result of a legacy of disinvestment. This grant will allow the Brooklyn Chamber of Commerce, through the Brooklyn Alliance, to advocate effectively for resources that will allow every part of our community to flourish. I am excited to work closely with the Chamber of Commerce on the implementation of this economic development plan,” said, U.S. Rep. Yvette Clarke.
"This is a critical step forward in our effort to revitalize all neighborhoods in Brooklyn, including Bushwick, Coney Island and East New York. I applaud the efforts of the Chamber and all involved in this effort,” said U.S. Rep. Hakeem Jeffries.
“Business is an essential part of our nation, and Brooklyn boasts a diverse community that continues to grow and show that it’s a powerhouse of economic opportunity. I applaud the Brooklyn Chamber of Commerce on their well-deserved EDA grant, and I look forward to seeing how the Chamber will leverage these federal funds to help revitalize Brooklyn neighborhoods, improve local infrastructure, and strengthen opportunities for businesses,” said U.S. Representative Daniel M. Donovan.
“I’m thrilled to have helped The Brooklyn Alliance earn this grant to better our community with job growth and business expansion. Building the Brooklyn economy will not only help Brooklynites but will benefit our entire city,” said U.S. Rep. Carolyn B. Maloney.
“The economic development strategy process brings together public and private stakeholders to create a regional road map for future economic growth, job creation and private investment. Thank you again to Brooklyn Alliance for the leadership and vision on this project,” said U.S. Economic Development Administration Regional Director Linda Cruz-Carnall.
“This comprehensive plan will create a roadmap for economic growth and smart development in Brooklyn,” said ESD President, CEO, and Commissioner Howard Zemsky. “New York State is committed to growing jobs, supporting our growing workforce, and creating opportunities throughout the borough, and the Brooklyn Alliance’s Comprehensive Economic Development Strategy will be an important part of that work.”
“The strides that Brooklyn’s economy has made in the areas of technology transfer, facilitating entrepreneurship and the creation of incubators and other start-up spaces and supports has been nothing short of tremendous. However, significant hurdles remain in ensuring that our borough has the best infrastructure and opportunity penetration to maximize our potential. Congratulations to the Brooklyn Chamber for landing the CEDS grant to help us identify where our future efforts are most needed, and where our future efforts can be most effective,” said New York State Senator Martin J. Golden.
“Brooklyn is the epicenter of innovation. While we have some of the brightest minds starting businesses and bringing jobs to our borough, there is much we can do to ensure that we are all working towards a common goal,” said New York State Assemblyman Joseph R. Lentol. “The Comprehensive Economic Development Strategy will guide Brooklyn’s workforce development and infrastructure investment. We need to provide our businesses with the tools they need and there is no better leader than the Brooklyn Chamber of Commerce to lead the way.”
“As Chair of the New York City Council’s Committee on Small Business, the Brooklyn Chamber of Commerce has been a remarkable partner in building and supporting a business-friendly environment throughout this city. I am confident this EDA grant will be put to excellent use in laying out a comprehensive strategy to make Brooklyn an even better place to start and grow a business. I look forward to continuing to support the work of the Brooklyn Chamber as they embark on this exciting new endeavor,” said New York City Council Member Robert Cornegy.
“I am proud that this extensive plan connects the dots between Brooklyn’s economic and physical resiliency. As we continue recovering from the worst storm in our city’s history and actively seek to better prepare ourselves for future natural weather events, we can and should find ways to generate workforce development opportunities and find ways to better assist local small businesses as part of the process,” said New York City Council Member Mark Treyger.
“Brooklyn is experiencing an economic development boom, but that progress is not being felt by every community equally,” said Brooklyn Borough President Eric L. Adams. “This grant will serve as a key resource in identifying the areas where we need to invest further in job creation and small business development, and ensure we have an in-depth understanding of the needs of our underrepresented neighborhoods.”
Another key component for the strategic plan will focus on economic resiliency such as recovery from a natural disaster like Superstorm Sandy. Strategic planning will consider elements needed, or those which are already in place in order to respond to the region’s recovery needs following an incident. Sustainable transportation, telecommunication redundancy and safe development are some examples of a plan to promote business continuity and preparedness.
In order to implement the plan, the Brooklyn Chamber will enlist the assistance of a consultant through a competitive bid process. The Brooklyn Chamber will build on existing relationships and engage elected officials, government agencies vital in economic and workforce development, educational institutions, local developers, business owners and residents.
Once complete, the Brooklyn Chamber will make the document available on its website, ibrooklyn.com, and work with stakeholders and community based organizations to begin to execute strategies identified in the CEDS.
About the Brooklyn Chamber of Commerce and the Brooklyn Alliance
The Brooklyn Chamber of Commerce is an organization that serves its members through promotion, advocacy and programming in order to build and maintain a healthy and robust business environment throughout Brooklyn.
The Brooklyn Alliance is the 501c3 affiliate of the Brooklyn Chamber of Commerce. Its mission is to drive community and economic development across Brooklyn’s diverse neighborhoods. For more information about the Brooklyn Chamber and the Brooklyn Alliance, visit www.ibrooklyn.com