Adams’ economic stimulus plan echoes New Yorker’s wishes – The Ticker

New York City desperately needs infrastructure reform as the days of the COVID-19 pandemic recede. With cases down and streets open, New York City Mayor Eric Adams’ economic plan is a fast track to recovery that will benefit employed New Yorkers.

Adams released an economic development plan, titled “Rebuild, Renew, Reinvent: A Blueprint for New York City’s Economic Recovery,” focusing on accelerated urban development projects and helping small businesses.

Adams’ plan also includes increased support for small businesses and help to make New York a tourist hotspot. According to the New York Times, tourism numbers in New York are not expected to return to pre-pandemic levels until 2025.

Adams has taken a tough stance in wanting New York offices filled again.

While he should let private companies make their own decisions about in-person work, his sentiments are understandable from the perspective of a major city official. Adams, like many mayors across the country, wants people to get back to life as it was before the pandemic.

Adams once said in a CBS News interview that people need to learn to live with COVID-19, and with his economic plan he is trying to speed up New York’s economic recovery.

“We have to learn to live with COVID, and we have to do it in a safe way,” Adams said of keeping schools open at the time.

Two years into the COVID-19 pandemic, New York City is facing multiple economic challenges, including a drop in sales tax revenue of $111 million a year.

Adams’ stimulus plans include investments in Hunts Point, Bronx infrastructure and the redevelopment of the Hunts Point Produce Market. Specifically, Adams is asking for a five-year investment consisting of more than $100 million to improve the 55-year-old area and an additional $40 million.

By comparison, former New York Mayor Bill de Blasio announced a $150 million investment in Hunts Point Market in 2015. Adams spoke at Hunts Point Market and called the budget proposal of “opportunity to reboot our entire system”.

Adams has the support of New York State Senator Alessandra Biaggi for the restoration of Hunts Point Market. Biaggi correctly pointed out how New York’s recovery depends on the Bronx’s recovery.