New York City Council
Committee on Economic Development
Dec 16, 2024
·
01:00 PM
1 hr 31 min
Summary
A hearing on industrial business service providers (IBSPs) and their role in supporting New York City's industrial sector.
Discussions focused on:
- The effectiveness of IBSPs
- Challenges faced by industrial businesses
- Funding levels for IBSP programs
- Potential improvements to city support initiatives
Features testimony from the Department of Small Business Services (SBS), industrial business service providers, business owners, and the public.
Meeting chapters
Read summaries and watch videos for short segments that matter to you.
Council Member Amanda Farías introduces hearing on industrial business service providers
Council Member Amanda Farías opens the New York City Council hearing of the Committee on Economic Development, focusing on industrial business service providers. She highlights the importance of the industrial …
0:00:28
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3 min
Introduction and overview of SBS
Kitty Chan, Deputy Commissioner for the Division of Business Services at NYC Department of Small Business Services (SBS), introduces herself and provides an overview of SBS's mission and structure. - …
0:04:32
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48 sec
Overview of Business Solutions Centers and Industrial Business Service Providers
Business Solutions Centers (BSCs) and Industrial Business Service Providers (IBSPs) offer a range of services to support businesses across all five boroughs of New York City. - BSCs and IBSPs …
0:05:21
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35 sec
Industrial Business Service Providers (IBSPs) specific services
Industrial Business Service Providers (IBSPs) offer tailored support for businesses in specific sectors of the industrial economy. - IBSPs provide guidance for businesses in manufacturing, construction, transportation, wholesale utilities, and …
0:05:58
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31 sec
City, state, and federal incentive programs
SBS promotes various incentive and cost-saving programs to support businesses, putting millions of dollars back into business owners' pockets. - Programs include the Relocation and Employment Assistance Program (REAP) and …
0:06:29
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30 sec
Business Express Services team (NYC Best)
The Business Express Services team (NYC Best) helps businesses navigate city regulations and avoid fines and fees. - NYC Best has saved businesses over $36 million in fines and fees. …
0:07:00
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12 sec
Commercial Lease Assistance Program
The Commercial Lease Assistance Program provides pro bono support to businesses for lease negotiations. - Over 3,200 businesses have received support through this program. - The program helps business owners …
0:07:14
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9 sec
New York City Opportunity Fund
The New York City Opportunity Fund is the largest public-private loan program in city history, supporting small businesses. - Collaboration with 8 Community Development Financial Institutions (CDFIs), Goldman Sachs, and …
0:07:23
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31 sec
NYC Funds Finder
NYC Funds Finder is the city's first online capital marketplace for small businesses, launched in September in partnership with Next Street. - Entrepreneurs can schedule one-on-one calls with financing account …
0:07:55
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26 sec
Capital access network impact
SBS's capital access network has had a significant impact on small businesses in New York City. - Since the start of the Adams administration, SBS has facilitated over $290 million …
0:08:21
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9 sec
Case study: SugaWRap LLC
SugaWrap LLC, a women-owned Bronx-based business, illustrates the impact of SBS's capital access programs. - SugaWrap produces 100% biodegradable and compostable food containers. - The business received a $34,000 loan …
0:08:32
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45 sec
Partnership with City Council and zoning changes
SBS collaborates closely with the City Council to implement policies that support business growth and development in New York City. - The City Council passed the administration's 'City of Yes …
0:09:17
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30 sec
New York City Industrial Plan and survey
SBS is collaborating with other city agencies to develop and implement the New York City Industrial Plan, a citywide framework to guide industrial policy. - The plan is being developed …
0:09:49
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50 sec
Importance of industrial businesses and conclusion
Kitty Chan emphasizes the significance of industrial businesses to New York City's economy and concludes her testimony. - Industrial businesses employ over half a million New Yorkers and make up …
0:10:44
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25 sec
Overview of IBSP program operations and service delivery
Council Member Amanda Farías inquired about the Industrial Business Service Provider (IBSP) program operations. Key points discussed include: - The number of industrial businesses served by IBSPs since January 2022 …
0:11:11
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111 sec
Current funding levels and stability for the IBSP program
Council Member Amanda Farías questioned the current funding levels and stability of the IBSP program. Key points include: - Current funding level for the IBSP program is approximately $1,400,000 - …
0:13:03
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81 sec
Use of technology to enhance IBSP service delivery
The discussion focused on how SBS is leveraging technology to improve IBSP service delivery. Key points include: - Implementation of the NYC Funds Finder to connect businesses with funding information …
0:14:24
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84 sec
Coordination between IBSPs and other city agencies
Council Member Amanda Farías inquired about the coordination between IBSPs and other city agencies. Key points discussed include: - Regular meetings with IBSPs to address concerns and questions - Collaboration …
0:15:49
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87 sec
Feedback mechanisms between IBSPs and SBS for program improvement
The discussion focused on the feedback mechanisms between IBSPs and SBS, and how this feedback is incorporated into program design. Key points include: - Feedback is channeled through the administration, …
0:17:18
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32 sec
Evaluation of business retention and job creation metrics
Council Member Amanda Farías questioned SBS about their methods for tracking business retention rates and measuring job creation. Key points include: - SBS does not directly measure retention rates - …
0:17:51
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164 sec
Discussion on the Industrial Development Strategic Plan and its potential impact
Council Member Amanda Farías discussed the Industrial Development Strategic Plan in relation to her bill. Key points include: - Concern about siloed approaches and the need for overall evaluation of …
0:20:36
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98 sec
Challenges and improvements in accessing city incentive programs
The discussion focused on difficulties industrial businesses face in accessing city incentive programs and steps taken to address these issues. Key points include: - SBS provides incentive consultations, focusing on …
0:22:14
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79 sec
Outreach efforts and engagement with industrial businesses
Council Member Amanda Farías inquired about barriers in engaging with industrial businesses. Key points from the discussion include: - SBS reports no significant barriers to engagement - Commissioners Kevin Kim …
0:23:33
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69 sec
Inquiry into specific program requirements and participation rates
Council Member Amanda Farías asked detailed questions about specific program requirements and participation rates. Key points include: - Inquiry about the 10-employee minimum requirement for the customized training program - …
0:24:42
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36 sec
Addressing paperwork burdens in incentive programs
The discussion focused on the paperwork requirements for incentive programs and their impact on business participation. Key points include: - Concern that paperwork requirements often outweigh the benefits for programs …
0:25:19
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70 sec
Discussion on incentive program design and potential improvements
Council Member Amanda Farías inquired about the design of incentive programs and potential improvements. Key points discussed include: - Question about why incentives are tied to capital improvements rather than …
0:26:36
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64 sec
Addressing the impact of short-term incentives and funding stability
The final discussion focused on the impact of short-lived incentives and steps towards more predictable funding. Key points include: - Concern about the short-lived nature of some incentives and their …
0:27:44
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62 sec
Council Member Vernikov questions SBS on business retention and support programs
Council Member Inna Vernikov engages in a Q&A session with representatives from the NYC Department of Small Business Services (SBS) about industrial business retention and support programs. The discussion covers …
0:28:47
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127 sec
Council Member Aviles inquires about IBSP funding distribution
Council Member Alexa Aviles questions SBS representatives about the distribution of IBSP funding across boroughs and the range of funding per provider. Assistant Commissioner Sherry Lane provides information on the …
0:31:10
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52 sec
Discussion on IBSP contract issues and funding challenges
Council Member Aviles and SBS representatives discuss IBSP contract issues, including the lack of annual COLA increases and the challenges of maintaining funding levels despite rising costs. The exchange reveals …
0:32:03
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170 sec
SBS support for industrial businesses facing rent increases
Council Member Aviles inquires about how SBS supports industrial businesses facing unaffordable rent increases. SBS representatives outline their assistance programs and educational initiatives. - SBS offers a commercial lease assistance …
0:34:53
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77 sec
Inquiry into tracking of industrial business displacement
Council Member Aviles questions SBS about whether they are tracking industrial business displacement due to rising rents. The exchange reveals a gap in data collection and monitoring of this issue. …
0:36:10
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53 sec
Discussion on industrial business retention and IBZ relocation tax credit
Council Member Farías inquires about the IBZ relocation tax credit and its usage for industrial business retention. Kitty Chan from SBS responds about their management of incentive programs and potential …
0:37:08
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65 sec
SBS collaboration with other agencies on business retention
Council Member Farías inquires about SBS's collaboration with other agencies on business retention efforts. Sherry Lane from SBS responds, highlighting their work on the industrial plan and survey administration. - …
0:38:12
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41 sec
Outreach methods for the industrial business survey
Council Member Farías inquires about the outreach methods used for the industrial business survey. Sherry Lane from SBS explains the various approaches employed by their vendors. - Vendors conduct daily …
0:38:55
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39 sec
Process for identifying and assisting businesses at risk of leaving NYC
Council Member Farías inquires about the process for identifying and assisting businesses at risk of leaving the city. Sherry Lane from SBS explains their approach to assessing and supporting small …
0:39:35
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53 sec
Comparison of NYC's industrial incentives to those in other areas
Council Member Farías discusses the comparison of NYC's industrial incentives to those offered by other areas, particularly in the context of retaining businesses. SBS representatives explain their role and limitations …
0:40:29
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171 sec
IBSP assistance with permitting and regulatory compliance
Council Member Farías inquires about how IBSPs assist businesses with permitting and regulatory compliance. Kitty Chan from SBS explains the process and services available. - IBSPs serve as gateways to …
0:43:24
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60 sec
Workforce assistance provided by IBSPs
Council Member Farías inquires about the workforce assistance provided by IBSPs to industrial businesses. Kitty Chan from SBS outlines the available resources and programs. - IBSPs can refer businesses to …
0:44:26
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56 sec
Lending partners and financing for industrial businesses
Council Member Farías inquires about lending partners and financing options for industrial businesses through IBSPs. Sherry Lane from SBS explains the available resources and recent lending data. - IBSPs have …
0:45:27
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88 sec
Changes in IBSP contracts and funding over time
Council Member Farías inquires about changes in IBSP contracts and funding over the years, considering inflation and increased workload. Kitty Chan from SBS explains their approach to maintaining service levels …
0:46:56
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4 min
Timeline and payment schedule for IBSP contracts
Council Member Farías inquires about the timeline and payment schedule for IBSP contracts. SBS representatives explain the current process and monitoring of payments. - Current contracts are in progress, with …
0:51:02
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96 sec
Reasons for delays in issuing multi-year RFPs for IBSPs
Council Member Farías inquires about the reasons for delays in issuing multi-year RFPs for IBSPs. Kitty Chan from SBS explains the factors influencing the delay and the current approach. - …
0:52:40
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101 sec
Allocation of IBSP funds for business retention versus expansion
Council Member Farías inquires about the allocation of IBSP funds for business retention versus expansion. Kitty Chan from SBS provides a brief response. - There is no specific division of …
0:54:30
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35 sec
Support for Minority and Women-owned Business Enterprises (MWBEs) in the industrial sector
Council Member Farías inquires about support for Minority and Women-owned Business Enterprises (MWBEs) in the industrial sector. Kitty Chan from SBS outlines the available services and programs. - IBSPs can …
0:55:07
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130 sec
Testimony by Lacey Tauber, Representative from Brooklyn Borough President's Office
Lacey Tauber, representing Brooklyn Borough President Antonio Reynoso, emphasizes the importance of manufacturing retention and the industrial sector for New York City's economy and workforce. She highlights the benefits of …
0:59:10
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145 sec
Testimony by Leah Archibald, Executive Director of Evergreen
Leah Archibald, Executive Director of Evergreen, testified about the importance of Industrial Business Service Providers (IBSPs) and their partnership with New York City. She highlighted the long-standing relationship between Evergreen …
1:01:50
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3 min
Testimony by Doug Young, Representative of LEERFORM Fabrication Design, on the importance of Evergreen and IBSP funding
Doug Young, representing LEERFORM Fabrication Design, testified about the crucial role of Evergreen, an Industrial Business Service Provider (IBSP), in supporting and growing his small industrial business in North Brooklyn. …
1:05:24
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103 sec
Testimony by Osagie Afe, Senior Business Assistance Manager at Long Island City Partnership
Osagie Afe from Long Island City Partnership (LICP) testified on the importance of Industrial Business Service Providers (IBSPs) in supporting NYC's industrial sector. Afe highlighted LICP's role in economic development, …
1:07:21
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3 min
Discussion on increasing IBSP funding and its potential uses
Council Member Amanda Farías initiates a discussion about increasing funds for Industrial Business Service Providers (IBSPs). She asks about the rationale behind a 50% increase and how the additional funds …
1:10:33
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155 sec
Impact of contract duration on IBSP operations
Council Member Farías inquires about the challenges posed by 1-year versus 3-year contracts for IBSPs. - Leah Archibald explains that shorter contracts create cash flow management issues, particularly during the …
1:13:09
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3 min
Inquiry about contract duration reasoning
Council Member Farías asks about the reasoning behind 3-year, 5-year, or 8-year contract durations for IBSPs. - Leah Archibald explains that she doesn't know the specific reasoning for choosing 3-year …
1:16:34
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58 sec
Closing remarks and transition to next panel
Council Member Amanda Farías concludes the discussion and transitions to the next panel of speakers. - Farías expresses interest in exploring longer contract durations that align with strategic plans. - …
1:17:31
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107 sec
Testimony by Brady Meixell, Government Relations and Business Services Manager of Southwest Brooklyn Industrial Development Corporation
Brady Meixell from Southwest Brooklyn Industrial Development Corporation testified about the importance of Industrial Business Service Providers (IBSPs) in supporting industrial businesses and their workforce. He highlighted the critical role …
1:19:18
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135 sec
Testimony by Ernie Wong, Business Owner of Shanghai MKS
Ernie Wong, owner of Shanghai MKS, testified in support of increasing funding for the Industrial Business Service Providers (IBSP) program. He emphasized the crucial role of Evergreen Exchange, an IBSP, …
1:21:49
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3 min
Testimony by Christopher Leon Johnson, Member of the Public, on Industrial Business Zones and Bike Lanes
Christopher Leon Johnson testified about the importance of Industrial Business Zones (IBZs) in New York City and expressed concerns about the encroachment of bike lanes and other non-industrial structures in …
1:25:04
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151 sec
Testimony by Quincy Ely-Cate, Director of Industrial Business Development at Business Outreach Center Network
Quincy Ely-Cate, Director of Industrial Business Development at Business Outreach Center Network, testified about the importance of industrial and manufacturing businesses in providing opportunities for underserved communities and the services …
1:27:44
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158 sec
