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New York & Tri-State  + Finance  | 

Stimulus Funding Helps Drive NYC’s $99B 2022 Budget

Mayor Bill de Blasio on Monday unveiled a $98.6-billion executive budget for fiscal 2022. The mayor said billions of dollars in federal stimulus and the city’s vaccination campaign are help propel New York City to recovery.

“The pandemic hit us hard but together we will fight back and drive a recovery in every neighborhood,” said de Blasio. “We are meeting the moment with direct investments in education, small businesses, open space and public health, and we are building up reserves to continue our strong fiscal foundation for the future.”

New York City experienced a growth of 100,000 jobs from December 2020 to March 2021, and expects to gain 400,000 more to reach a total of 4.5 million jobs by the end of 2021. The city’s tax revenue forecast exceeded expectations, with an increase of $1.37 billion in fiscal 2021 and $164 million in FY22, for a total of $1.5 billion. 

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Read more at NYC.gov

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).

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