President & CEO Partnership for NYC | Former 3-term Mayor of Jersey City | U.S. Marine | Former Ironman Triathlete | Husband & Dad
Joined February 2009
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Jun 11
Some realities on economic development/growth in NYC. I totally understand the politics populist messaging - but at some point the data must break through for rational decisions. Just look at the below
Dallas added 3 high-paying jobs for every 1 New York did last decade. We’re 9th out of 10 largest metros on job growth since 2020. We’re adding 2 jobs for every 1 housing permit while Dallas and Phoenix are in balance.
NYC is coasting on its reputation a
- and that reputation has limits.
Taxes matter. But so does this: NYC is simultaneously pursuing a $30 minimum wage, new noncompete bans, mandatory paid personal time, AI restrictions, expanded antitrust liability, and climate disclosure mandates - all at once being discussed, with no coordinated analysis of the cumulative effect on job creation. They sound good for populist vote gathering - but If you were running a company and had choices what would you decide given how movable jobs are.
That’s not a business complaint. That’s a competitiveness problem.
Three things that could actually reverse the trend:
1.A real housing incentive program - no sacred cows, no special interests crowding out economics
2. More restrictions and independent analysis around legislation before implementation that chills job creation
3. Leadership at EDC
crainsnewyork.com/politics-p…
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Jun 8
These economic impact numbers are crazy. The Knicks story isn’t just a sports story - it’s also citywide economic surge story concentrated over a few weeks, with measurable impact across New York’s economy.
What is a Knicks playoff run worth to New York City?
🏀 $90 million - Estimated economic activity generated by each home playoff game
🏀 $202 million - Already generated by the Knicks’ postseason run to date
🏀 Up to $465 million — Total
projected economic impact across the full postseason
🏀 $140M - Estimated revenue generated inside Madison Square Garden from playoff games
🏀 60% - Increase in sales reported at bars and restaurants near MSG on game nights
🏀 Millions - New Yorkers engaging from restaurants, bars, and neighborhoods across all five boroughs
🏀 27 years — Time since the Knicks last reached the NBA Finals
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Jun 8
What this can tell us about housing and affordability in NYC. This is really interesting as Florida’s insurance reforms just put nearly $1B back in ratepayer pockets. This highlights Governor Hochul was spot on for pushing insurance reform here in NY and it can be impactful. Scaffold law should be next as it is a law UNIQUE to NYC and what repealing it will do for housing construction. The commonly held estimate is that Scaffold law which is unique to NY adds 7% to the cost of construction. RAND has estimated that anywhere from 25k-38k additional units of housing could be built in NYC over a decade is scaffold were eliminated. Also, scaffold law claims cost nearly 6x more and take 1.4nlonger to close than other bodily injury claims in NY, adding to litigation costs, etc
USAA to return nearly $1 billion to Florida members as legal reforms help lower insurance costs cnbc.com/2026/06/08/usaa-to-…
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Jun 8
And finally, although we don't have an exact number we know scaffold adds a significant cost to public infrastructure projects. The port authority has said that gateway will incur $300m in additional insurance costs due to scaffold and the MTA estimates that scaffold could add hundreds of millions to their current capital plan
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Jun 8
New York is the only state in the country with absolute liability for gravity-related construction injuries, regardless of worker fault. The numbers are staggering
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Steven Fulop retweeted
Being able to keep rents down in Jersey City with supply is an achievement anywhere, but especially so given JC's location and role as a "pressure-valve" for Manhattan commuters who would have otherwise sought housing in the five boroughs. More homes → more affordability! 📈
May 27
NYC rents keep surging to all-time highs - but a suburb right across the Hudson is getting much cheaper: Study trib.al/qETzayc
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May 30
Mass transit/soccer 1/2 🧵- the point below is largely about more investment in mass transit and a regional approach to transportation is needed.
it’s sincerely great that Mayor Mamdani got some discounted tickets for New Yorkers shows how FIFA can move. But the bigger issue still isn’t solved: how do 80,000 fans actually get to MetLife?
NJ/FIFA fighting over $100 NJT train tickets and who pays seems like the wrong battle solution. $100 as the solution still is very expensive. The real answer in the near term is common sense which hasn’t been done - open the parking lots like a Giants game seems like where the real opportunity is to solve a problem and will benefit NY NJ. The fact they are closed due to some silly FIFA request is the opportunity for a win for everyone. Most ppl who followed this political fight don’t realize the solution is not complicated
MetLife hosts 80,000 fans for NFL games without a transit crisis (and provide security) because the parking lot IS the transportation plan. Trains are supplemental normally. The moment you eliminate 28,000 on-site spaces as is the case with the World Cup rules now , you force NJT to carry 4x its normal matchday load on infrastructure never built for it - hence the $48M bill and the surge pricing they argue over . It will be messy at Secaucus transfer as it stands today for NY and NJ riders as that space isn’t built for that traffic.
Here’s what nobody is saying loudly enough: FIFA is charging $225 for set aside a small number premium parking spots while closing the larger lots. So this isn’t a principled transit-first philosophy from FIFA - it’s a revenue grab. If parking is negotiable at $225, it should be negotiable at market rate for everyone and eliminate the stress/costs for NJT. I will point out that Dallas AT&T lots are open….
MetLife sits on state-controlled Meadowlands land. Those parking lots aren’t FIFA’s property. The right fight was always: lots stay open, that’s non-negotiable for a suburban American stadium with no subway stop.
Open the lots a problem will be a larger solved
May 21
From @TheAthleticFC: Mayor Zohran Mamdani has secured a rare concession from FIFA after negotiating 1,000 tickets to matches at the upcoming World Cup priced at $50, which will be distributed by ballot to New York City residents. nyti.ms/4dX3zTJ
ALT Mayor Mamdani Secures $50 World Cup Tickets for New Yorkers
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May 30
Longer term - this brings to light that NY/NJ infrastructure should not require tens of thousands of people driving private vehicles. Around the world, major sporting events are built around mass transit and we don’t have that here with regards to MetLife. Public transportation is more efficient elsewhere, more equitable, and more environmentally sustainable than dedicating vast amounts of land to parking. Better regional system here is crucial.
The problem shouldn’t be that too many people are taking trains. The problem is that transit wasn’t properly funded over the long term… we saw this with the SuperBowl a decade ago and we did nothing. We should fix it for the next one
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May 28
I’m the guy responsible for the Jersey City housing boom referenced I’ll be the first to tell you that on this issue of housing growth I think Mayor Mamdani deserves credit for prioritizing it early in his admin and leaning into supply as an important part of the affordability conversation. If you filter out the noise - he has been consistent here and it will likely yield some results if they execute
In Jersey City, average rent dropped from $3,400 to $2,600 in just 2 years because they allowed more building. Every idiot praising Mamdani for adding more rules, & more rent controls, which will reduce supply, & increase prices, should be deported to the bottom of the Hudson
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May 28
I predicted it of course, and I stayed committed. If the new administration continues our work - aggressive building, real housing supply - rents will keep declining and Jersey City will be the largest city in NJ by the next census. The road was bumpy at times (per my previous post), but the results speak for themselves. If the city gets sucked into easy political talking points investment will slow.
May 27
No one could have predicted this
“Jersey City was one of the busiest apartment-construction markets in the entire New York metro region, adding thousands of new units as developers chased the post-pandemic demand surge. When all that inventory came online at once, landlords had to compete on price to fill the units, which pulled rents down from their 2024 peak. The building boom is why renters are getting a break now."
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May 27
I love this article and there's a clear lesson here for NYC as well.
For 12 years as mayor here, I was unapologetically pro-housing growth. At times I faced pushback from NIMBYs, whom we overruled. I brushed off plenty of trolls on social media accusing me of prioritizing developers. I absorbed political pressure from the building trades when I refused to force projects into their deals. But I held the line and was elected 3 times bc the noisy ppl aren’t the majority.
I was YIMBY before that was even a term.
This article is proof that a housing-first agenda and the discipline to discard the noise is the most effective path to affordability. Period. Full stop.
The hard truth is that it takes a decade : first getting capital comfortable enough to trust an administration, then getting them to invest, sourcing deals, navigating entitlements, and finally breaking ground. But if you commit and stay the course, it works.
nypost.com/2026/05/27/real-e…
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May 27
Productive conversation today at the Partnership with Deputy Mayor Julie Su and NYC business leaders. The appetite for better public-private collaboration on the economy is real - and that in itself is reason to be optimistic.
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Steven Fulop retweeted
In this week's #YouDecide podcast: My talk with @StevenFulop about why the @Partnership4NYC is worried about leading business possibly moving out of NYC.
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May 21
Always a good conversation with @errollouis @NY1. We got into the real state of NYC’s business community - no spin.
podcasts.apple.com/us/podcas…
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May 19
CNBC Squawk Box this morning. It’s a very good thing that the mayor is doing outreach to the business community and the next step is actionable steps where we can overlap @CNBC cnbc.com/video/2026/05/19/pa…
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May 18
We talk endlessly about housing affordability. But an apartment 40 minutes from a subway stop is obviously not the same as one 4 minutes away. That’s why the Partnership Fund co-founded the Transit Tech Lab with the MTA back in 2018 - because transit access is housing policy. This is amongst the most important work the Partnership does.
govtech.com/biz/nyc-turns-to…
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May 15
349 to go.
Town hall #1 done building for the future as we’re changing how we operate and taking the Partnership directly to employees - not just CEOs. 500,000 workers are part of our member companies, and they should know what we’re fighting for: good jobs, a competitive NYC economy, and a city worth staying in. Starting with smaller companies, scaling up. More soon. Join us at nyfuture.org
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Steven Fulop retweeted
May 14
Finally, powerful reporting on how the brutal job market is impacting young NYers.
Some are applying to hundreds of jobs without a single offer. Many with advanced degrees are ending up in low-wage work.
This is the half of the affordability crisis we don’t talk enough about: not just the cost of living, but the cost of not finding a job.
Read this:
nytimes.com/2026/05/14/nyreg…
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