FOR IMMEDIATE RELEASE
Tuesday, March 14, 2017
Contact: Nick Benson, SBS Press Secretary - email@example.com, 212-618-6778
BUSINESS IMPROVEMENT DISTRICTS INVESTED $134.7 MILLION IN NYC NEIGHBORHOODS DURING FY 2016, BOOSTING OVER 85,000 SMALL BUSINESSES
New City Report Highlights The Daily And Annual Impact Of NYC’s 73 Business Improvement Districts On Commercial Corridors And Residents
New York – The NYC Department of Small Business Services (SBS) today issued a new report highlighting the significant impact of Business Improvement Districts (BIDs) on New York City neighborhoods. In fiscal year 2016, 73 BIDs invested $134.7 million into neighborhoods across the five boroughs, including $695,000 in grants from SBS. These funds supported BIDs efforts to promote their commercial corridors and to address an array of local quality of life issues. In total, these BIDs include 85,000 businesses across the five boroughs.
“Each and every day Business Improvement Districts are delivering important services that are helping build safer, cleaner, and more vibrant neighborhoods across our city,” said Gregg Bishop, Commissioner of the NYC Department of Small Business Services. “BIDs are invested in their communities and their local leadership helps small business corridors grow and succeed.”
BIDs are voluntarily-created, community-based organizations that partner with local stakeholders to deliver supplemental services that revitalize neighborhoods and foster vibrant commercial corridors. During fiscal year 2016, BIDs delivered the following results, among other work:
These city-wide figures are illustrated in the local success stories that can be found in BIDs across the city. Some of the year’s success stories include:
The SBS FY16 Business Improvement Districts Trends Report also features comparative expenditure data and details sources of BID revenue.
To view the full report and learn more about the local impact of BIDs, visit nyc.gov/sbs.
“Business Improvement Districts are at their best when they’re responsive to neighborhood businesses’ needs and take on high-impact projects that couldn’t be done without them,” said Manhattan Borough President Gale A. Brewer. “I thank the Dept. of Small Business Services for putting together this information and highlighting some of our BIDs’ great recent accomplishments.”
“BIDs have become an essential component of bolstering Brooklyn’s commercial vitality, in neighborhoods from Bedford-Stuyvesant to Brighton Beach,” said Brooklyn Borough President Eric L. Adams. “The encouraging statistics from this report highlight the power of public-private partnerships in maintaining our streets and improving the quality of life for all Brooklynites. I’m proud to see that many Brooklyn initiatives are highlighted in the report, such as rodent mitigation on Montague Street and horticultural education on Myrtle Avenue. These are precisely the kinds of community-oriented partnerships I aim to support in my work across the borough, from Dine in Brooklyn and BK Sings to Operation Safe Shopper and the Greenest Block in Brooklyn. I thank SBS Commissioner Bishop and his team for their continued commitment to small business empowerment in our borough.”
"Last year, nearly $135 million dollars was invested through Business Improvement Districts (BIDs). Our city has the largest network of BIDs in the nation, and as I look around at several--from the Times Square Alliance to Southern Blvd; from the Long Island City Partnership to the Bed-Stuy Gateway, I am pleased to see New Yorkers who are hands-on in their viability. Their continued success, and economic growth, proves what can be accomplished through partnerships between our government, nonprofits, property owners, tenants and residents. The SBS has done a great job of highlighting the work in this report," said Council Member Robert Cornegy.
About Business Improvement Districts
A BID is a geographical area where local stakeholders oversee and fund the maintenance, improvement, and promotion of their commercial districts. BIDs are located in all five boroughs and represent a diverse mix of NYC neighborhoods. BID services can include street cleaning and maintenance, public safety and hospitality, marketing and events, capital improvements, beautification, advocacy, and business development. The services provided are supplemental to those provided by the City and are not a replacement of City services. SBS provides oversight and support to the City's existing BIDs and to communities interested in creating new BIDs.
About the Department of Small Business Services (SBS)
SBS helps unlock economic potential and create economic security for all New Yorkers by connecting New Yorkers to good jobs, creating stronger businesses, and building vibrant neighborhoods across the five boroughs. For more information, visit nyc.gov/sbs, call 311, and follow us on Facebook, Twitter, and Instagram.