Kreamer describes Choose NYC long-tail business attraction
Maloney asks EDC to describe long-tail business discussions from the World Cup. Kreamer says EDC's Choose NYC program hosted a summit with 350 attendees, including 150 businesses from 34 countries considering expansion to New York.
One question for EDC.
You mentioned that there's a long-tail impact of discussions that kicked off during the Cup with businesses.
If you can speak to a few of those examples and what you expect to come of them.
Yeah, thank you for the question, Council Member.
I would say more broadly, when thinking about the World Cup, in many ways it was an investment for the city for long-term returns, and that can come in many different ways.
More tourists down the road, more large-scale events like this down the road, and yes, to your question, more businesses.
So we at EDC have a program called Choose NYC, and that works with...
It works to accomplish three things.
One is to brand New York City as open for business and to gain a pipeline of businesses who are considering coming to New York City or expanding within New York City.
And then once we have a qualified lead, we then work with that business to help connect them to resources and answer questions.
To get them to say yes to New York City and open an office here, hire New Yorkers, et cetera.
We typically host the Choose NYC Summit, which is our flagship event at a different time of the year.
We purposely had it during the World Cup because we knew there was going to be a lot of businesses in town.
There were 350 attendees to the Choose NYC Summit.
150 of them, roughly, were businesses who are considering expanding within New York City or to New York City from 34 countries around the world.
And so we keep track of all those conversations as part of a broader effort of Choose NYC, and those conversations continue.
To provide some context, kind of the decision timeline for a business considering coming to New York and really there.
There are some that may take two years to decide and could be shorter than that.
But this was really kind of a beachhead moment for us to get more businesses aware of the opportunities in New York City, what resources are there, and in hopes down the road they will open an office here.