Deputy Mayor for Economic Development of New York City Robert Steel's Final 103 Days
What's going on in New York City? Former CEO of Wachovia and Deputy Mayor for Economic Development of New York City Robert Steel talks about what's being done to help the City's economy grow during his last 103 days in the position on CNBC's Squawk Box Thursday morning.
He cited the importance of making a strong transition happen, saying that they need to have a strong finish to the many projects that they have going on. Steel mentioned their applied science initiative, "Cornell will take the keys to Roosevelt Island on January 1, we need to organize that, and lots of other activities like that," Steel said, noting that the mayor's land-use projects help reshape and diversify the economy.
Steel said that in addition to a growing population and having more jobs than New York City has ever had, businesses are also expanding. He stated their mission of reorienting the economy to create the right jobs in the "knowledge and information economy," which he said we're in the first few decades of.
According to Steel, on average the economy has regained 65 percent of the jobs lost due to the 2008 recession, but in New York City, jobs have grown by 200 percent. He said a big part of this success is diversifying the economy with the five boroughs plan.
He also including applying science and technology skills and businesses to the growth, saying that it needs to happen across the nation.
At the time of this writing, Jason Cunningham had no position with the mentioned entities. Visit Jason on Twitter @JasonCunningham.
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