New York City Economic Development Corporation

About NYCEDC:The New York City Economic Development Corporation (NYCEDC) is a nonprofit organization that fuctions as a city agency, reporting to the Deputy Mayor for Housing and Economic Development. NYCECD is charged with encouraging economic growth in New York City through a variety of means, including facilitating real estate development, improving infrastructure, attracting and retaining businesses, and conducting economic research and analysis. Additional information on NYCEDC can be found by visiting www.nycedc.com

Stratey Internship
The IOP Director’s Intern will be placed in the Strategy Department. S/he will be working closely with managers on multiple projects related to the New York City Economic Development Corporation’s (NYCEDC’s) strategic priorities and emerging issues for the City of New York. Responsibilities include research, writing, financial, and other quantitative analysis, planning, and presentation. The Department projects involve multiple public and private stakeholders, making teamwork, and consensus building essential components of this role.

About the Strategy Department:
The Strategy Department is a group of ~10 staff, composed primarily of former private-sector strategy consultants. It conducts a number of 3-12 month projects focusing on both internal strategy for the corporation as well as analyzing different economic development challenges, conducting research, making recommendations, and building consensus for NYCEDC and the City. Former projects have included: analyzing the operations of departments within NYCEDC; identifying game-changing ideas to improve the City’s long-term economic development; developing a comprehensive approach to revitalizing low-income neighborhoods; managing cross-agency projects to improve management of environmental review business processes; and identifying opportunities to grow the tourism, film and television industries.

Key Responsibilities:

  • Conduct research, financial modeling, data gathering and analysis, and expert interviews
  • Aid development of policy recommendations as required by the specific project
  • Assist in creation of PowerPoint presentations that communicate key project findings and recommendations to various audiences (e.g., senior EDC staff, City Hall staff, partner agencies, external stakeholders, etc.)
  • Work on multiple projects at any given time

Qualifications include:

  • Enterprising and resourceful, organized and results oriented
  • Energetic, pro-active, and collaborative while working in a team
  • Ability to prioritize among competing needs and opportunities, while managing against tight timelines
  • Strong demonstrated written and oral communications and presentation skills
  • Strong quantitative skills
  • Ability to 'set up the problem,’ look at the big picture, and search for insightful, creative solutions
  • Interest in urban infrastructure and economic development issues
  • Knowledge of New York City, State, and Federal government (advantageous but not required)

2017 Intern Reflection: 

As an intern with the Strategy team at the New York City Economic Development Corporation (EDC), I have the opportunity to learn about a range of interesting topics and to develop a strong set of professional skills. As a group with a fairly broad mandate, the team focuses on a wide range of issues that affect economic development in the city, from analyzing freight distribution to helping develop a cybersecurity industry in New York to drafting Mayor De Blasio's plan to create 100,000 good-paying jobs. 

My role this summer has been to take the lead on devising the Corporation's strategy regarding commercial office space in New York City. In 2015, EDC projected that demand for office space would grow, requiring 60 millions square feet of new stock. My project has thus been to research what the City is already doing to spur commercial development, and explore new strategies for EDC to undertake to create more office space and, in the process, spur job creation throughout NYC. Through this lens, I have learned a great deal about neighborhoods across all five boroughs--from Midtown Manhattan to Bushwick and Port Morris--as well as the distinctive, surprising challenges that commercial development faces.

Beyond learning about zoning regulations and development financing, this internship has taught a range of skills that will help me wherever I go in my career. As a team mostly made up of former management consultants, Strategy emphasizes a particular hypothesis-driven approach to problem-solving, which has helped me think about issues and devise solutions in a more systematic way. On a more minute level, I've learned how to make more punchy, well designed presentations in order to communicate my ideas and research. Overall, I'm thankful for this opportunity to develop professionally and to interact with topics that shape the present and future of America's biggest and greatest city. 

Nick Abbott '18

2016 Intern Reflection:

My favorite part of the Strategic Planning team at EDC has been the inspiring team members who welcomed me warmly and invested their efforts in my professional development. On my first day on the job, I logged in to my computer to find tens of emails with invitations to chat over coffee, sit in on meetings, and develop skills in one-on-one training sessions. The entire team comes from a private consulting background, and their workplace culture stands out impressively among the rest of the office—we occupy the open corner “Bullpen” where we collaborate side by side, toss around rubber band balls, and use the space to brainstorm and meet. Over the course of my internship, I have had the opportunity to meet with each member of the team to undergo extensive skills training, from high level, unplug-your-mouse Excel functions to keys to “managing up.”

My project for the internship consisted of defining the development vision of Governor’s Island, a former military fort located just 2 minutes by ferry from downtown Manhattan. My project was to perform benchmark analysis for a variety of potential educational, cultural, and commercial uses for the island for future developments. I interviewed representatives from many New York agencies, examined financing and operations structures, and presented my recommendations to the project team. The multi-faceted work has given me the chance to understand a number of industries and meet many influential leaders in economic development.

Samuel Huang '18 

2015 Intern Reflection:

Working with the NYCEDC’s Strategic Planning Department allows you to bring your critical thinking skills to bear on truly fascinating problems. The puzzle before the NYCEDC is how best to enhance economic development in a city that is extremely diverse along almost every conceivable metric. What often emerges is a need to tailor economic development strategies to particular NYC neighborhoods and to carefully evaluate each neighborhood’s needs in determining project priorities. I’ve enjoyed working with the Strategic Planning Department, specifically, because it plays a leading role in developing these overarching plans for economic development. Accordingly, the Department works closely with a broad range of stakeholders—from the NYCEDC’s own urban planners and real estate managers to the Mayor’s Office and prominent NYC nonprofit organizations.

My primary project for the summer was to develop a strategy for green space development that aligned with NYCEDC goals as well as the political priorities laid out by the city’s new mayor, Bill de Blasio. For the project, I collected, assessed, and assembled qualitative and quantitative data into a strategy presentation, and my day-to-day tasks were wide-ranging: while some days were spent analyzing the public-private partnerships that the City had forged previously to maintain public spaces, others were spent co-leading interviews with urban planners and non-profits. I’m grateful to my NYCEDC co-workers for all their help with my project and my broader skill development, for coaching me in how to break down complex problems, how to ask the right questions, and how to quickly digest the appropriate data points.

Sonali Salgado '16

2014 Intern Reflection:

This past summer I was lucky enough to join the Strategic Planning department of the New York City Economic Development Corporation, a not-for-profit corporation charged with developing, advising, managing and investing to strengthen NYC businesses, drive growth and improve quality of life. As part of the Center for Economic Transformation (CET), the Strategic Planning department (SPLAN) comes up with initiatives that aim to address particular economic issues and to develop NYC’s major business sectors. SPLAN is a small, supportive team that works collaboratively with the other departments to push projects forward and propose new economic development initiatives. 

Over my time at EDC, I focused on two major projects on the urban agriculture industry in NYC and EDC’s approach towards neighborhood development. My work was centered around collaborating with others across EDC departments to find creative and effective ways of researching these topics, pulling metrics, creating slide decks and presenting these findings in meetings with multiple EDC departments and city leaders. Working on the small SPLAN team gave me a deeper understanding of how the EDC approaches public policy and urban development in NYC and how that approach differs from other city agencies. In addition, I got an inside look at the transition between the Bloomberg and De Blasio administrations and how this transition affected EDC’s initiatives and greater city policy. From detailed data analysis meetings to brainstorming projects to surprise birthday parties in the office, the members of EDC SPLAN team are hardworking and efficient, as well as collaborative and fun. Together, they are focused on finding creative and effective initiatives to make NYC a better city to live in, work in and visit!

Anne Wenk '15

 

New York City, NY
Economics/Business, Federal /State and Local Government, Research