MEMORANDUM

TO: Interested Parties

FR: Carly Lindauer

Communications Director, Bill Thompson for Mayor

DT: July 14, 2009

RE: Our City, Our Future - Jobs and the Economy

OUR CITY, OUR FUTURE: NEW LEADERSHIP FOR NEW YORK

On Saturday, July 11, Bill kicked off his “Our City, Our Future,” tour at Brooklyn Borough Hall where he
was joined by hundreds of supporters, volunteers and elected officials. Over the next five weeks, he’ll
travel across all five boroughs, talking about issues such as jobs and the economy, education, housing,
affordability and undeserved communities.

This week, Bill will focus on jobs and the economy – meeting with those who’ve been largely ignored
by the Mayor’s top down policies: small business owners, factory workers, and unemployed and
underemployed New Yorkers. He’ll spend the week attending roundtable discussions, visiting sites that
have been impacted by the economic downturn, and getting feedback and opinions from those who’ve
been hit the hardest.

MIKE BLOOMBERG’S FAILED POLICIES:

In the last few days, two damning reports were released that clearly demonstrate how Mike
Bloomberg’s misplaced priorities have failed New York’s working families.
 Middle class families are leaving New York City because it’s unaffordable.

- According to the Drum Major Institute “more than 151,000 middle-class residents
left the city in 2006 alone.” [New York Post, 7/12/09]

 The job loss gap between African Americans and Whites in New York has widened – and is far
larger than the gap seen across the country. [New York Times, 7/13/09]
 - The recession has also worsened the unemployment rate in New York among other
ethnic groups, although none as sharply as blacks. Among Hispanics, the rate rose to
9.3 percent in the first quarter of 2009 from 6.4 percent in the first quarter of 2008;
among Asians and other ethnic classifications, the rate rose to 7.1 percent from 5.5
percent. [New York Times, 7/13/09]

Mike Bloomberg has spent more time focusing on those at the top – the wealthy, developers, Wall
Street – than he has on the City’s middle and working class families.

 Instead of working to preserve middle class jobs, Mike Bloomberg invested $45 million in job
training programs for those on Wall Street.

 Mike Bloomberg has zoned out of existence 14% of the City’s land available for industrial
uses. [Center for Urban Futures]
 - With 7,000 companies employing roughly 100,000 workers, light manufacturing is
still a viable and important sector in New York City. [New York Industrial Retention
Network]
- From Luxury shoes in the Bronx, to specialty food production in Queens and high
end fashion in Brooklyn, these jobs pay, on average, $16,000 more a year than retail
sector jobs and help create financial stability and opportunity for tens of thousands
of New York families. [New York Industrial Retention Network]
- Unfortunately, this is an industry which Bloomberg hasn’t focused on and treats
with indifference. His misguided rezoning has placed real estate value ahead of jobs.

 Despite the fact that New York City is a major purchaser of professional goods and services,
Mike Bloomberg has done little to support local businesses.

- The Mayor has instead opted to spend billions of dollars around the country,
including moving to an out of state supplier for New York City text books – a move
that took business away from local book suppliers.

THE STATISTICS:

In 2005, Mike Bloomberg promised to create 250,000 jobs.

But…

 New York’s employment rate is the highest it’s been in 16 years. [New York Times, 6/18/09]
 151,000 middle class residents left New York City in 2006 alone. [New York Post, 7/13/09]
 New York City unemployment rate is likely to reach 9.5% by early 2010. [Office of the NYC
Comptroller, 7/13/09]
 The unemployment surge in New York City primarily has affected men; more than 70% of the
increase in the city’s unemployed between the first quarter of 2008 and the first quarter of
2009 are men. [Office of the NYC Comptroller, 7/13/09]
 Overall unemployment rose by 72% between the first quarters of 2008 and 2009, but
unemployment in the African-American community swelled by 167%. [Office of the NYC
Comptroller, 7/13/09]
 The unemployment rate among African-Americans during the first quarter of this year rose to
14.7% - four times faster than with other ethnic groups. [Office of the NYC Comptroller,
7/13/09]
 Among Hispanics, the unemployment rate rose to 9.3 percent in the first quarter of 2009 from
6.4 percent in the first quarter of 2008; among Asians and other ethnic classifications, the rate
rose to 7.1 percent from 5.5 percent. [New York Times, 7/13/09]
 During that same period, unemployment most affected those between the ages of 25 and 54,
with that number jumping from 99,900 to 211,800 – a 112% increase. [Office of the NYC
Comptroller, 7/13/09]

BILL’S VISION FOR NEW YORK:

Bill knows that we need to refocus our priorities and fight for our middle and working class families. As
Mayor, Bill will create a smart growth and fair growth development model. This will include:
  Working with community partners and employers throughout the five Boroughs to
collaboratively plan a progressive strategic sectoral economic development plan.
 Creating job opportunities for New Yorkers to enter the workforce and access career ladders
that lead to stable, middle class incomes.
 Coordinating all City agencies, tools, and programs in support of a planned, economic
development and job creation strategy.

Smart growth and fair growth recognizes that economic development and job creation is a three-legged
stool which all of the City’s resources and tools – including financing, taxes, land use policy, and City
funded programs - should work in concert around. The legs of the stool are:

1. Supporting current industries and helping them expand.

2. Identifying new industries.
3. Creating a workforce development strategy and job training programs that are structured
around prioritized workforce needs.

Bill will be discussing his vision for New York’s economy throughout the week.