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New Development Helps Spur SI’s Record Growth

Often overlooked in the shadow of Manhattan and the other boroughs, Staten Island is setting population, business and employment records, State Comptroller Thomas DiNapoli reported. The borough was hit hard by Superstorm Sandy in 2012, but unemployment has fallen by half since then to 4.6%, a near-record low. Its median household income is nearly a third higher than the citywide median.

“Jobs and businesses have reached record levels on Staten Island, spurred by reconstruction, new development and a growing leisure and hospitality sector,” DiNapoli said. “Staten Island’s recovery from Superstorm Sandy demonstrates the borough’s strength.”

The comptroller’s report cited a number of new developments, including the 200-acre Matrix Global Logistics Park on the West Shore (pictured), where Amazon and Ikea are slated to open logistics warehouses by year’s end.

The borough is also home to film and TV production, with Broadway Stages opening the first of five soundstages earlier this year.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy
  • ◦Development
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