Transcript: Mayor Adams Kicks off "Jobs Week" by Releasing Comprehensive Strategy to Revitalize and Reimagine Commercial Office Space, Create Jobs

February 3, 2025

First Deputy Mayor Maria Torres-Springer: Good morning, everyone. My name is Maria Torres-Springer. I'm the first deputy mayor for the City of New York. And thanks to all of you for being here today. It is so wonderful to be in the company of so many strong partners, so many leaders, including of course, leaders from labor. Is labor in the house? Our Business Improvement Districts, our Chambers of Commerce, so many Consul Generals, and of course, many partners across city government. Welcome to Jobs Week. 

So every day this week, we will be making announcements and showcasing policies and programs across the city that demonstrate how this administration is putting New Yorkers to work and building pipelines to careers of tomorrow. To tell you more about this work, our achievements to date and our goals for the future, it is my pleasure to introduce a mayor who has seen the addition of more than 380,000 jobs since the start of this administration. For those who are counting, that's more jobs than cities like Orlando, Newark or New Orleans have people. It's a lot of jobs. 

And just last week, this mayor, for the eighth time this term, set a record for the total number of jobs in our 400-year history. So please join me in welcoming the Get Stuff Done mayor, the mayor of the City of Yes, Mayor Eric Adams. 

Mayor Eric Adams: Thank you. You know, it just feels so good to be back, and I miss some of you, and so I'm just really excited about being back at the helm and hats off to DM Maria Torres-Springer and just that clear direct vision. And I hope you didn't miss what she stated. Eight times since we've entered office, we have shattered the jobs records and it has really become part of the everyday really terminology that we use. Record after record, after record, and we're going to continue to do so. And we can't do it alone. 

We're doing it with real partners, with labor. We're doing it with real partners, with our entities in the city, our BIDs, our districts, our community leaders, and what's unique here today, something that we've been always excited about, our counsel generals, the international partners, what the Commissioner Mermelstein has done by showing why we are an international city. There's a reason the United Nations sits in the East River. We have often ignored the fact that this is an international city and we're seeing the productivity of that today with this announcement. So I really want to thank all of my consul generals that are here and say thank you so much for joining us in this important announcement. 

And as I stated in my State of the City address, our goal is to make New York City the best place to raise families, and that means we need the best jobs on the globe, and it's about employment. It's more than just something we do during the a.m. hours. It's the precursor to sleep that allows you to experience the American dream and allows you the independence and dignity that you deserve. And we want to continue to beat those job records because it trickles down to everyday employment in our city. And Jobs Week is going to show just that. 

We're going to highlight how we're going to continue to improve jobs in our city. We have increased jobs in every demographic. We have witnessed unemployment numbers drop in this city. People are being employed and allowed to really experience the dignity of employment. So today, we're kicking off the week by announcing Race for Space, a comprehensive strategy that will revitalize our commercial office sector, attract the best companies across the country and the globe, and advance an ambitious goal of 50 million square feet of total leasing by 2025. And most importantly, create thousands of jobs for hard-working New Yorkers with good pay, good salary, good union jobs in the city, and Race for Space addresses the biggest threat. 

And we saw it, DM, and the entire team. We witnessed it when we first took office. One of the biggest threats that we were witnessing is the– too many vacancies. Speaking to the partnership, Kathy Wylde, speaking to other business leaders, speaking to some of our major companies, they say, Eric, we were going through a transition from working at home and too many vacant spaces in our city. We had almost 138 [million] square feet of vacant space in our city and it was hurting the economy. It was hurting the local bodegas, the local stores, the restaurants, those who sold flowers. The trickle down effect was real. You could work from home, but there were many jobs that were feeding off of these employees that were hurting in a real way and we knew we had to tackle that. 

Right now there are a record number of jobs in the city, yes, but we want to make sure we occupy many of our office spaces. And despite the historic growth, too many offices are still empty and too many storefronts remain vacant. It became a real eyesore when you saw business corridors after business corridors where our storefront and our retail spaces will remain vacant. So we're going to go bigger and bolder at every stage of the game, bringing in new businesses, even as we build more capacity. 

Our plan will establish a powerful new incentive to attract established businesses to New York City and make it easier for companies from around the globe to expand here. This is the empire state. Too many businesses believe we get in the way of building an empire. Something that Andrew Kimball and his team over at EDC wanted to eradicate or alleviate the many barriers to building businesses in our city. And we want to create a new generation of good-paying, family-sustaining jobs that will keep our city going strong into the future. 

We're going to start by launching a pilot program called Relocation Assistance Credit for Employees or RACE. An all-out effort to attract out-of-state companies to New York City, the RACE program will provide incentives for companies that sign a lease for at least 20,000 square feet of space at qualifying office buildings. It would attract at least 15 top-level new tenants by the end of 2025 and activate over 800,000 square feet of office space. 

And we're bringing an additional 3,000 jobs, not in a far distant future, but right now. We will also create a new international landing pad network, which will support international companies that are expanding to New York City, attract new sources of innovation and investment, and bring in even more jobs, especially as I indicated over and over again, new union jobs. 

We’re really happy to have Labor here, 32BJ, Hotel Gaming Trades Council, and Building and Construction Trade Council. Labor will be crucial to this initiative because that's where working class people, middle class jobs, that we want to continue to foster a entry into the middle class. 

And I just really want to point out this relationship we have built with the international community. We have our consul generals of United Arab Emirates, Sweden, Morocco, South Africa, and the Bahamas, Cote d'Ivoire, also I was speaking with a representative from there as well, and many others. 

Additionally, we're opening a new application round for the Manhattan Commercial Revitalization Program, which will help convert up to 10 million square feet of aging and vacant offices into the modernized work spaces business[es] need now and these companies are considering expanding to New York City can learn more about these new initiatives and range of other resources by visiting choose.nyc. 

These proposed sets of changes will build on our existing efforts to help businesses find space and most importantly grow in the city and hire New Yorkers and expand upon our historic City of Yes for Economic Opportunities, Dan Garodnick and his team pushed through. Everybody focused on City of Yes for Building, but they forgot the City of Yes for Economic Opportunity, a series of City of Yes initiatives that we got through the City Council with real partnership. 

So we're determined to keep this economy booming, boost growing industries like life sciences and artificial intelligence, create more dynamic streetscapes and commercial corridors, create more opportunities for workforce development across the board, and our administration sees vacant space not as a turnaround, but as an opportunity as we move forward. And we want to revitalize and reimagine places like Midtown economic engines. 

And the naysayers said New Yorkers would be in a doom loop, and it would be at the end of the Midtown as we know it, and just the opposite has happened because of these real partnerships. So thanks to our administration efforts, our partners that are here, and others who are not here, particularly Governor Hochul. 

Year one, we did a New New York plan with the governor, and we saw how Manhattan, our central business district, is now on a complete turnaround. It is thriving. Our hotel industry is growing. New corridors are growing. There's just an excitement that's in the air, and Job Weeks is going to highlight that and let everyone know they have a place to be employed and to grow their business in the city. So great job, deputy mayor, first deputy mayor, your entire team and all of our partners. Thank you so much.

First Deputy Mayor Torres-Springer: I love that chant. Thank you, thank you. Before I introduce the next speaker, I just wanted to offer a little bit more context on the mayor's remarks. So everyone here knows as it relates to tackling our housing crisis, we've had an everything-everywhere-all-at-once approach. The same can be said about how we are thinking about job creation, revitalizing commercial corridors and commercial districts. 

We have spoken about the City of Yes for Housing Opportunity, but as the mayor mentioned, City of Yes for Economic Opportunity was just as ambitious. A lot of zoning reforms in order to activate vacant corridors in order to stimulate small business growth. But the City Planning Commission also approved plans for over 20 million square feet of new office construction, including at Penn Station and the bus terminal. 

We've invested in public realm and other infrastructure across many business districts from 5th Avenue to Broadway and beyond. We're addressing quality of life issues in these corridors, including removing unsightly sidewalk sheds to working with BIDs across the city to promote cleanliness. We launched the M-CORE program that we are reopening today for new applications and that has already resulted in three deals for office buildings in Midtown. 

Also this morning, we announced together with the state and the UN a $500 million development plan for 1 and 2 United Nations Plaza that will help create more than 1,800 jobs and infuse billions back into the city's economy because of these long-term leases at UN Plaza. But we're not stopping there. For those who said that Midtown is still struggling, we are seeing the opposite. We are seeing people voting with their dollars in terms of investments in different office buildings. 

At 350 Park, the administration will start the ULURP, process this spring for a project that will bring a modern 1.8 million square foot building that will be home to Citadel Securities, a global investment firm. At Park Avenue, we're going to select a design team to undertake a comprehensive redesign of this signature street. The Manhattan Plan, of course, which the mayor announced during the State of the City, will allow us to look at all of the ways we can spur job creation and housing creation across Manhattan. And just two weeks ago, the Midtown South Mixed-Use Plan, certified into ULURP, that will bring 10,000 units and revitalize that entire area. 

So we are really pulling out all the stops because breaking that jobs record eight times is not enough for this administration. We want to keep going. And all of this starts today, this renewed effort with Race for Space. We can't do this alone. So many partners across government. Our key to this, our anchor, however, for this work are our friends and colleagues at the Economic Development Corporation. And so it's my honor to introduce the Executive Vice President for EDC, Melissa Román Burch.

Melissa Román Burch, Executive Vice President, New York City Economic Development Corporation: Thank you. Good morning, everyone. Thank you, Mayor Adams, first deputy mayor, and the business and labor leaders that are joining me here today. 

In case you missed it, New York City's economy is hitting record highs under this administration. The most jobs ever. The most small businesses ever. A record number of tourists are expected this year. We're the top destination for talent in the country. Companies are confident in New York City again. 

Just this past year, OpenAI, Bridgewater Associates, and Chobani all announced new major office openings here, bringing investment and jobs. And Citadel, they're not just opening an office in New York, they're building a brand new 62-story tower with room for 6,000 workers. In many ways, our economy is stronger than ever. But let's be clear, our work is not yet over. 

Even with this momentum, there are challenges. Office vacancies remain high. Empty offices mean empty subways and streets, and struggling retail businesses. And if we're not careful, this could shrink tax revenues and hurt the public services that all New Yorkers rely on. We prevented the worst, but we are not yet done. 

Today, with the Race for Space, this administration is using the full range of EDC capabilities to hit this challenge head on. First, with the RACE program, the new incentive will attract out-of-state companies as major tenants in older office buildings. It will reactivate over 800,000 square feet of vacant space and bring 3,000 jobs to New York. Businesses exploring expansion to New York City can visit choose.nyc to connect with our business development team and to learn about the RACE program and our suite of business incentives that exist today. 

Next, we know New York City is a global destination for business. So we have launched an RFP to create the International Landing Pad Network right here in New York. The landing pad will attract revenue-generating international firms in our innovation industries that are ready to tap U.S. markets and establish a physical presence with the New York base of operations. 

And finally, is the M-CORE program. M-CORE is powering the transformation of aging Manhattan buildings into the high-quality, amenity-rich spaces that companies and workers demand today. Just last week, we announced incentives for our third M-CORE project, the Han Cooke Center at 460 Park Avenue, which will now undergo a $200 million renovation with investments in energy efficiency, Local Law 97, modern layouts and amenity spaces, and experiential retail that will enliven the public realm. Now through May 1st, we are accepting new applications for the next round of incentive awards. 

These programs, together, the Race for Space are big, they're bold, and they're exactly what New York City needs to continue with strong recovery. Looking ahead, we're also exploring the potential for new programs to support new construction of trophy-quality office space in Manhattan over the long term. So let's keep growing, let's keep building, and let's keep attracting new businesses, new jobs, and new investment to our great city. Thank you so much.

First Deputy Mayor Torres-Springer: Thank you so much, Melissa. Of course, the work of building results not just in a high quantity of jobs, but it's been extraordinarily important to us, the quality of those jobs. And so we have been able to partner on so many different levels with our next speaker, and that partnership continues today. So please join me in welcoming, he needs no real introduction, but BCTC President Gary LaBarbera. 

Gary LaBarbera, President, Building and Construction Trades Council: Thank you, first deputy mayor, and thank you, Mayor Adams. First of all, there's a lot to unpack what you've heard this morning. First, let me comment on the UNDC announcement. I mean, this is a very exciting project, important to our international community, very important for New York City. And I have to say that this project will, in fact, create over 1,800 union construction jobs. It will be performed under a project labor agreement, which will ensure opportunity for people from underserved communities to have opportunities and pathways into the middle class through our apprentice programs. 

Now, there's been a lot mentioned, and I just want to mention a few projects. First of all, we hear about 10,000 units in Midtown. Well, those projects, too, will be covered under labor standards through 45X legislation, which will lead potentially to agreements with EDC or private developers, project labor agreements. Again, project labor agreements are crucial to creating an opportunity, more efficiency, less cost, but really it is a method to bring people into apprentice trades, into the trades through apprentice programs, critically important. 

And on that note, just about a month and a half ago, we were here in this very rotunda announcing historical billions of dollars covered under project labor agreements, and I will be back tomorrow negotiating three more project labor agreements through the partnership that we have with Mayor Eric Adams and the City of New York that will cover $55 billion of construction. 

The opportunities that are before us are incredible, and these opportunities will not only lift up the City of New York and bring more business and economic opportunity, but will literally transform people's lives. So we're very appreciative to the mayor, to the first deputy mayor, to Andrew Kimball at EDC and his complete team for this partnership. It's a critical partnership. 

Let me just mention a few other things. When we were here, we talked about SPARC, another massive project. already, Kingsbridge Armory has been awarded. That's a major project that will create opportunity in the Bronx. Desperately needed work opportunities there. We have just recently learned that EDC has released an RFP for the Brooklyn Marine Terminal. This project will not only rebuild port infrastructure, but will also create housing. And again, this project will be covered under 45X. Once again, labor standards leading to pathways into the middle class. 

There are so many other projects I could mention, but let me just say this out of respect for everyone's time. What the mayor has recognized, and the EDC, and the first deputy mayor, is there is an intersection where a number of goals meet. And that intersection is we can develop and build the city of New York for its residents, for business, and at the same time, create opportunity, true opportunity into the middle class. 

We often refer to construction jobs, but these are really careers. These are construction careers. As the mayor has said many, many times, this isn't just a job, then when that project ends, that worker becomes unemployed. These jobs create opportunities that lead into pathways into the middle class, which raises all tides, all boats rise with the tides, which will only make New York City a more vibrant and successful city. 

So again, today for me, it's a lot of thank yous that I want to say, and again, I thank the partnership with Mayor Eric Adams, I thank the partnership we have, a great working relationship with the first deputy mayor, and with Andrew and his complete team at EDC. It's a privilege and an honor for me to be here. This is a very good day for the City of New York and a very good day for working people in this city. Thank you all very much.

First Deputy Mayor Torres-Springer: Thank you so much, Gary. And for our last speaker, I'm thrilled to have her here with us today. As Gary mentioned, this is about creating pipelines into so many different sectors, really building careers. That is true in construction, because of all the building that has been happening and will be happening. And it's also true for many other employers in the private industry. And we can't do any of this work without them. And so I am so happy that we have one of our major leaders in our business community. I think she leads an office of more than 500 workers in Midtown. Please join me in welcoming Yesenia Scheker Izquierdo, the New York office managing partner for the firm KPMG.

Yesenia Scheker Izquierdo, Managing Partner, KPMG: Thank you so much and good morning as well. And thank you for inviting me to be here today. KPMG is a proud member of the New York business community and we've maintained a footprint here in New York City since 1897. So we've been here for over 125 years, and we're really, really proud of that. 

For us, it's simple. New York is a central hub for numerous industries. It boasts unparalleled talent, access to global capital markets, and leading experts in technology. And of course, it offers a vibrant cultural experience for all of our people. 

We recently doubled down here at KPMG for a commitment to New York City. We're excited to be opening our new U.S. headquarters to Manhattan West later this year. We've taken close to half a million square feet of space down there. We're going to welcome, we're very excited to welcome and provide our over 5,000 partners and professionals in the city that are based here with this new wonderful space and to be able to collaborate. 

KPMG is dedicated to supporting initiatives that enhance the city's infrastructure and create opportunities for businesses to thrive, including the mayor and Commissioner Tisch's leadership when it comes to public safety. But we know that public safety is only one part of the equation. We know while New York City, and I personally truly believe this, I talk about this every day to anyone that will listen to me, it's the most dynamic city in the world. And, but we really do understand and appreciate that high costs are a threat to the city's future when it comes to living and affordability for people. 

So we really appreciate the city's effort to encourage the upgrading and tenancy of older office buildings, and we appreciate the city's commitment to an economic vitality and growth and working to make New York City a more affordable place to be for all of our people and to really, you know, attract new capital and people to the to the greatest city in the world. Thank you so much.

Question: Talking about jobs, I'm wondering if City Hall is hearing anecdotal reports or if there's any concern about immigrants being driven into the shadows and that significant working population no longer contributing to the city. What can you tell us?

Mayor Adams: This city is always going to be a city where opportunities are working for good paying jobs and we're not seeing any indicators of that at all. And we're going to continue to do what we've done, go to school, educate your children, get healthcare. If there's issues around law enforcement, do so and being fair. That's why, as Gary stated, good-paying union jobs, good-paying jobs ensure that people are not in the shadows and should not be used as, as we saw historically, sweatshop workers or exploited people in some way. We want to continue that energy in the city. How are you?

Question: I have two questions. First, how much will these incentives cost the city? And then, does this take away at all from plans to convert in-and-out spaces into housing? Like, if you're incentivizing companies to fill the spaces, is there still opportunity to convert?

First Deputy Mayor Torres-Springer: Of course. So, the incentive that we're talking about today, RACE, it will generate hundreds of millions of dollars in terms of tax revenue. It is a tax credit, and so the estimates are that it'll be, over the course of 10 years, $150 million in foregone tax revenue. But, because of the increased activity, what that means is that you have an increase, really, of about $400 million in tax revenue, so it's good leverage. That is an investment that we want to make. It's how our incentives work. It's an investment of a dollar in order to get a return of close to $4. 

What we have to do with about the hundred million or so square feet of outdated office space is determine how do we put it to better use. In some instances, it will be residential conversion. That's why our work in getting the incentive in Albany last session was so important. That will incentivize that. It's why the rezonings are really important. And it's why the neighborhood plan, like Midtown South, is critical, but we want to make sure that for owners who want to modernize their office space, that we give them the tools as well. And that's what today is about. 

Between the new RACE program, between the International Landing Pad Network that will help international companies locate here, and the new round of M-CORE, which, there too, we're providing incentives to modernize office space in Manhattan. These are all the tools that are needed so that those owners who want to modernize outdated space can do so. So it'll happen on two fronts, and we want to make sure we're making every tool available so that none of these buildings lay vacant. Because if they do, then those are jobs that we're leaving on the table.

Mayor Adams: Well, we use the analogy of many rivers, just as we have to dam rivers that create terrible seas and oceans, we have to allow rivers to flow that create a healthy environment. And so what we have done every year from going to Albany, freeing up legislation, to City of Yes, City of Yes Economic Opportunity, City of Yes of Building, creating these partnerships with our union members making sure they could have fair contracts and union jobs. We are now freeing up all these dams that prevented the sea of opportunity to produce and that's what this team has done. 

And it's not a one-size-fits-all, it's not a one river that needs to be freed up. Each river that prevented this city from being an empire state, we're now freeing up those rivers and allowing them to flow. 

Question: I'm just wondering, you know, with jobs, are you concerned at all about how potential tariffs on Canada and Mexico are going to affect the business community here in New York?

Mayor Adams: Well, you know, we, this morning, first deputy mayor and Jacques Jiha, you know, talked about this with my other deputy mayors to do an analysis of the impact of tariffs. 

But let's be clear, we cannot have porous borders. We have to make sure that our borders are secured, it's a public safety issue. And public safety, as you heard me say over and over again, is a prerequisite to our prosperity. When you hear those who are entering in our northern region that are on a terrorist watch list, when you're hearing some of the other issues that we're facing, we need to ensure that this is a safe country in general, but specifically a safe city, because the destination for many people is New York City. And we need to make sure that it's done correctly. 

But Jacques is doing an analysis and he's going to tell us the impact of the tariffs on our city, because these are partners, but he will do that analysis and he'll let us know. 

Question: There is a whole section of 7th Avenue in the 50s where there are empty storefronts and I know you've alluded to that. So how do you get businesses back in there? How do you deal with the landlords who might be, you know, charging sky-high rents? How do you work that out to get businesses back in the stores?

Mayor Adams: Well, we do it with three letters and I'm going to let her tell you. E-D-C.

Román Burch: Thank you. We are very focused on that issue. And I think that what the first deputy mayor mentioned, which is having multiple programs and multiple ways of engaging the business community. 

First, we work in a very strong partnership with our BIDs, which are very much at the front lines of working and connecting the dots between the public realm activities that are happening on the streets and then the business community and business owners. We also believe that programs like M-CORE, which focus on experiential retail at the ground floor, mean that we are incentivizing landlords that are making investments into enlivening the public realm. 

We also know that the City of Yes for Housing Opportunity did so much by way of zoning to enable us to think very differently about retail space, to enable more active uses on the ground floor plane to clean up outdated and antiquated zoning codes. So I'm very hopeful that the intervention of all of these elements together is going to start changing the face of those swaths of the city that have been hardest hit.

Question: But what’s taking so long? It’s Midtown, central business district, what’s taking so long? 

Román Burch: We are seeing this evolution every day. Every day we're reading about these openings. Every day we're reading about new activity and people wanting to bring investment into the city.

Mayor Adams: And we also want to just point out the amazing job that Commissioner Kim was doing and handed it off to Commissioner Gross and what she's doing on the ground making things happen every day. 

And one of the problems that we're facing, and I hear people all the time tell me, you know, Eric, we need to do something about our retail shops. And I say, you need to stop buying online all the time and get on the line in the store. You know, so there is– we are no longer going into our shops, we're no longer patronizing our local businesses who hire locally, and so everyone can contribute to the revitalization of our retail spaces. 

And Commissioner Gross has been doing a lot to tell our businesses, our retail businesses, that you have to turn it into an experience. You know, people are looking for different experiences when they go into these stores. 

Retail is important for our economy, it's important for our city, and that is why we zeroed in on retail theft. When you have 570-something people committing 7500 arrests in the city, we had to retail theft task force because not only are the retails hurting by those who are not coming in the store, they're hurting by those who come in the store stealing their items, locking up their items, and not allowing them to have a real business opportunity. So, as stated, there are many rivers that we're going to un-dam to allow our retail stores to become a sea of success in the future.

First Deputy Mayor Torres-Springer: But to be clear, retail vacancy has dropped five– Retail vacancy right now in the city at about 11.4 percent has dropped for the last five consecutive quarters. So, all of what we're talking about will drive that even further, but we are already seeing that our work and action public safety and other investments and we want to be more targeted in particular corridors like what you mentioned. But just want everyone to know that citywide it has gone down for the last five quarters straight. 

Mayor Adams: Yeah, we look at one of the beautiful experiences that Councilman Moya and deputy commissioner of Operations, Roosevelt Avenue, you know, they were dealing with real issues around prostitution, uncleanliness, and we saw a combination of DSNY, Commissioner Gross and her team at SBS, law enforcement coming. Now there are different businesses that are opening, you know, nail salons, eyebrows, manicure. You know, I got my eyebrows done there the other day. 

And so it just shows that when you create a safe environment, we can see a decrease in the vacancies. And that's the combination. There's not a one-size, a lot of people think there's a one-size-fits-all, and it's not. It is a, you got to go in, analyze the problem, and then come in with a real holistic approach to address the problem.

Question: I want to ask, you know, since we have these labor leaders here and we're talking about the importance of unions, I think, Gary, if you want to take this one, Trump's effectively weakening, hobbling the NLRB by firing a board member there. Are you concerned about that in your, you know, capacity as a New York labor leader? 

Mayor Adams: Do you want to just say something? 

LaBarbera: Sure. Any weakening of any labor protections is a concern for New York and throughout the country's labor movement. But I will be honest with you, I am in conversations with our national unions, and we are discussing it and there are conversations going on. So I think this is a situation where we have to see how things evolve. And we will, you know, the bottom line is as follows. 

There is always a need, in my opinion, for worker protections, worker rights. And if laws are weakened, I believe the outcome will be the greater ability for organized labor to organize the unorganized, because that's the only place that they'll be able to find worker protections. 

Question: Mr. Mayor, are you most concerned about the president's possible weakening of labor laws broadly?

Mayor Adams: No.

Question: Lots of people talked about affordability, these jobs that allow people to get into the middle class. Do you have any concern that these new tariffs would be working against that? Because the middle class, when they go to the grocery store, they're seeing the prices go up. You know, when it comes to eggs in particular, anything else, you know, does that worry you that those tariffs are working against you're trying to do here in particular in the city?

Mayor Adams: I think it's about balance. I think it's about sending the right message and I cannot overemphasize that you've heard me say this over and over again. Safety is numero uno for me. I've said it over and over again. I cannot articulate that more. We've been fortunate in the city. We're the top target for terrorist threats. We're the top targets for destinations. People want to be in New York and we have to make sure every aspect of keeping New Yorkers safe. 

That is when I speak to my business leaders that is their top focus, that is their top concern, and that is going to apply the seeds of growth. And so we need to find the right balance and I think that we are two weeks, three weeks into this administration, they have to find the right balance and we need to find that right balance. 

Question: So I'm sort of curious if you think that the jobs will dry up, that businesses aren't going to want to come here, and that maybe the Race for Space won't succeed because of these tariffs and the effect that placing tariffs on places where we get a lot of imports and exports. Mexico, Canada especially, and China, is [it] going to have an adverse effect on this whole program and on your ability to get the jumpstart jobs and businesses?

Mayor Adams: No, I don't feel that way. I think our city is resilient. I think our country is resilient. And I went through several periods of the display of that resiliency, particularly September 11th. No one thought we were going to come back. No one thought we were going to come back after COVID. No one thought we were going to come back. 

This is a resilient city, and it has always been, and this is a resilient country. And I think we need to find a proper balance, and that is what this is all about. And I'm looking forward– and I'm excited about the Race for Space. People want to be in this city. This is the greatest city on the globe because of the great opportunities that we have. And we're going to be alright. That's my belief. 

Question: [Inaudible] comes from Canada. Electricity that's going to power businesses and create jobs. If electricity gets increased because of these tariffs, what effect is it going to have on New York City's economy and on these great programs that you're trying to do?

Mayor Adams: Yeah, we spoke about that just this morning. FDM had Deputy Mayor Meera Joshi on that was looking at that particular initiative that I think is going to be completed 2025? This year, 2025 or early 2026, it is going to be a major source of electricity. And again, Jacquesis looking at all– Jacques Jiha, our budget director, he's looking at this entire analysis to see what is the impact on our city. And he will instruct us on the next step forward. 

We're looking at that. This is new. And I think one of the biggest mistakes that people are making, they are knee-jerk reactions to everything. We're not going to do that. We're going to analyze, we're going to understand the real impact, so that we're not giving our miss or false information. This is a moment of really understanding what the impacts of everything that is happening right now, and not just come out and just, you know, throw a rock. 

Throwing rocks, that's not a plan. A plan is to understand the impact and execute based on that. Alright, thank you. 

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