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Economy

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Can the Pandemic Give Commercial Rent Control a New Lease on Life?

Shopkeepers say the COVID recession proved the precarious position of small business owners. Landlords, staggered by empty storefronts, say they can’t afford restrictions. Now, a last-ditch rent regulation bid is headed to the City Council.

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Commercial Districts Grapple With Slowed Return to Business as Usual

Flatiron, Hudson Square, Downtown Brooklyn and the Garment District offer four studies in survival, with just 23% of Manhattan office workers back at their desks. Lures back include pedestrian space and cultural events.

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NYC College Neighborhood Businesses Eagerly Await Return of Students

New York City is a college town. And many businesses in university-adjacent neighborhoods count on student and faculty dollars. Will they get the in-person returns they need this fall to boost their bottom lines?

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NYC Loses Jobs as Pandemic Recession Takes Growing Toll on Workers of Color

The city shed 14,000 positions last month while the rest of the country saw its strongest employment growth in a year. Meanwhile, the increasing challenges facing Black and Latino New Yorkers underscore structural inequities, a new study found.

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Vaccine Mandate Offers Shot at Boosting Protection, But Businesses Wary

Store and restaurant workers will be on the frontlines dealing with the unvaccinated — and sometimes angry — public as a new city-wide requiring one dose to go inside bars, restaurants, indoor entertainment venues and gyms.

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Film and TV Production Make a New York Comeback. But Will the Tax Credits Roll?

Work on shows from "Mrs. Maisel" to "Gossip Girl" is nearing pre-pandemic levels in Hollywood on the Hudson. Competition, though, could get fierce: California and other states are upping tax credits in grabs for a piece of the action.

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Gowanus Could Become More Diverse After Rezoning, Racial Impact Study Finds

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Port Authority’s Inspector General to Probe Sky-High Airport Food Prices After ‘$27.85 Beer’ Fiasco

The bi-state agency will probe whether concessions companies — including one that employs one of Gov. Cuomo’s top confidantes — are violating pricing guidelines after THE CITY revealed costly items at JFK and LaGuardia.

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Cuomo’s Call for Private Businesses to Require Vaccinations Spurs Demands for a Government Mandate

The governor urged the private sector to order employees back to workplaces and make everybody — including customers — get shots. But business owners said it’s up to elected officials to lead the way amid rising COVID rates.

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‘A Complete Disaster’: Cuomo Overhauls Rent Relief System After Tenants and Landlords Left Hanging

The state’s badly needed $2.7 billion pandemic rental aid system has given out less than $1 million, with the eviction moratorium end a month away. Residents and owners slammed the glitchy, cumbersome application process.

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NYC Restaurants Cooking Up a Comeback, but Simmering Problems Remain

The city economic sector most devastated by the pandemic recession is finally showing signs of a sustained recovery as jobs start to rebound. But optimism is tempered by worker shortages, inadequate PPP relief and mixed forecasts ahead.

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SoHo’s Big Test: Can Lower Rents Lure Back Stores and Tourists?

As the city’s economic reopening accelerates, the future of retail in Manhattan — especially in key business and tourist areas — remains unclear. Some clues of what’s to come might be found in a shop that specializes in slime.

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NYC’s $100 Billion Budget Deal May Leave Whopping Deficits for New Mayor, Critics Say

Unprecedented federal aid and better-than-expected tax revenue restored cuts and boosted education funding. But experts and advocates call de Blasio’s proposed spending plan a "missed opportunity" for stabilizing city finances.

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CUNY Community College Students Need Help Covering Big Costs to Get Back to Class, Study Says

The Center for an Urban Future finds most two-year school students drop out before getting their degrees. A program called ASAP that helps them across the finish line is facing city budget cuts as New York emerges from the pandemic.

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New Baseball Team Coming to Staten Island, But With a $8 Million Slam to Taxpayers

A team from the quirky Atlantic League is on deck to replace the defunct Staten Island Yankees. In the meantime, the city is promising to overhaul Richmond County Bank Ballpark, near the St. George Ferry Terminal.

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Slow Rebound of Construction Jobs Threatens NYC Post-Pandemic Rebuild

The latest employment numbers are 25,000 below the city’s pre-coronavirus peak. With uncertainty over everything from the next mayor to Gov. Cuomo’s political fate, the industry is betting nearly all on President Biden’s $1 trillion infrastructure push.

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Who’s the NYC Business Community’s Choice for Mayor?

With the June 22 primary approaching, there’s no clear favorite, reflecting much of the city. But interviews with more than a dozen business leaders show they generally agree on who they don’t want to see in City Hall.

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Cuomo’s Back-Rent Relief Finally Arrives. Tenants and Landlords Ask: Will it be Enough?

New York’s $2.4 billion aid program will begin accepting applications June 1. Real estate groups and tenant activists have lots of questions, but agree on one thing: The program won’t work without cooperation between owners and residents.

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Shuttered Subway Shops Show Manhattan’s Lagging Recovery Amid ‘Terrible’ Losses

Mass-transit ridership is rebounding faster in Brooklyn, Queens and The Bronx, records indicate. One sign of the times: Many Manhattan underground retail outlets remain "like ghost towns."

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Brooklyn Restaurant Renaissance is Cooking, Poised to Overtake Manhattan as City’s Food Capital

Hundreds of new establishments have received permits to open this year, surging into work-from-home neighborhoods while shunning business districts decimated by the pandemic.