Maloney asks about Mamdani admin commitment and budget funding for GEEP

Thank you so much for that testimony.

And thank you for the updates.

It's great to hear that many steps are being taken to pursue the goals of the Green Energy Action, Economy Action Plan.

Just to start off, since this plan was first released, we've shifted

presidents.

We've shifted presidents of EDC and we also have a new mayor.

So can you just speak to the Mondami's administration's goals and plans to continue to pursue the plan and if yes, which of the plans commitments are going to be funded in the upcoming budget?

Thank you, Chair, for the question.

As you know, one of the core remits of the New York City Economic Development Corporation is to grow innovation-based sectors with a focus on equity.

And so to that end, we as EDC view our work more as generational investments and commitments.

And so although the plan was released under the previous mayor's administration, the Green Economy Action Plan really should be thought about as a generational and ongoing commitment.

Particularly given that the urgency of addressing climate crisis is only deepening.

I think a good example of this is the South Brooklyn Marine Terminal.

In the de Blasio administration, that was when

We put forward that site for solicitation that Equinor was then successful in enabling a port facility for.

That construction started in the Adams administration, and that site will be completed in the Mamdani administration.

I will note, like I said in my testimony before, that project in particular has afforded 2,500 union workers to come to the site and work there.

It will yield 200 assembly jobs for the assembly of the large wind turbine components and 60 permanent jobs for O&M, which are enduring and really well-paying.

We were able to also extract some community benefits from Equinor in particular, which includes a brand new learning center for offshore wind, which is called Windscape, located at Industry City.

We also extracted $5 million of investments for local workforce and business development organizations, including Uprose.

And they funded the first three years of the offshore wind innovation hub to support our innovation work in the offshore wind sector.

So that project really exemplifies ADC's commitment to working at the intersection of climate and economic justice, particularly given that that project will facilitate 810 megawatts of clean energy into New York City's grid,

fairly alleviating our fossil fuel grid-based system here.

And just speaking towards the upcoming budget and the funding commitments, do we expect any shifts or what components of the plan are going to be supported?

Yeah, currently many of our initiatives are funded through existing allocations.

We'll work closely with OMB in the JAM plan process for any resources that we need for net new initiatives, but generally we are covered for those initiatives in the Jeep as far as city funding is concerned.