QUESTION
Council Member Stevens Asks DYCD About Economic Development Outcomes and Job Creation
1:00:12
·
80 sec
Council Member Althea Stevens inquires about the outcomes of the Department of Youth & Community Development's (DYCD) economic development contracts, including the number of small businesses and individuals served, and the number of jobs created and maintained within Neighborhood Development Areas (NDAs). Deputy Commissioner Mike Bobbitt reports that 854 entities were served, detailing the breakdown and highlighting the creation and maintenance of jobs through DYCD initiatives.
Speaker 1
1:00:12
According to the RFP economic development contracts that require utilize the following national performance indicators to measure their outcomes and achievements on a quarterly basis.
1:00:23
How many small businesses and individuals are served was served last year and how many jobs were created and maintained within the NDAs.
Speaker 3
1:00:31
Last year, there were 854 small businesses and individuals served.
1:00:38
And we have a breakdown for you of that 41% of those were aspiring entrepreneurs, 35% were entrepreneurs awaiting licensing, and 24% were small business owners.
1:00:50
In terms of the jobs created and maintained, 26 jobs were created within a small business, and examples of that A small business owner was able to secure commercial space, open their first brick and mortar and hire staff.
1:01:05
14 jobs were maintained and an example of that, a participant operating a small contracting business needed financing to maintain cash flow and was able to register as a licensed contractor apply for a business loan and get approved for a $25,000 loan.
Speaker 1
1:01:24
What can you Can you share the quarterly national performance indicated with the committee?
Speaker 3
1:01:29
Yes.
1:01:29
Thank you.
1:01:30
You're welcome.
Speaker 1
1:01:31
Alright.
1:01:32
Moving on.