Maloney on market uncertainty and permanent EDC president vacancy
Maloney asks about new programs for economic uncertainty and raises concerns about the lack of a permanent EDC president six months after the former CEO's departure. Peck says operations continue uninterrupted under her interim leadership.
Thank you so much, Chair Lee.
Thank you for your testimony and for the work that you have been carrying forward over the past several months.
We spoke about some of the economic trends and the import of investment in programs
like race and REAP that are helping to bring businesses and keep employers here in New York.
How are you?
Looking at market uncertainty and thinking about new programs in this economic environment to address some of the concerns that Speaker Menon raised about
creating jobs here in New York?
Yeah, I think, you know, as I said, we have a group that looks at it and see how effective they are and like, again, who's using it, like where they're going, et cetera, what types of industries,
And so we can provide as a resource.
We don't make the policy decisions on these as-of-right incentives.
And we focus on the IDA benefits that we provide for the discretionary benefits that are significant and meaningful.
So with the savings of $2.1 million, that's directed just at the marketing.
The actual programs are not expected to be decreased?
Correct.
Great.
And just having been an EDC alum can't overstate how important it is to have those intentional strategy investments and programs that are trying to create jobs here in New York.