The announcement is part of a new annual report highlighting the significant impact of Business Improvement Districts (BIDs), including projects providing socially responsible solutions to quality of life concerns. More than $40 million of the BIDs' investments were raised from external sources, including more than $1 million in grants administered by SBS.
The new online course series will make business education opportunities increasingly accessible to small business owners citywide. Through the course series, SBS will help entrepreneurs at all stages and from all industries start and grow successful businesses. The program aims to serve more than 5,000 New York City entrepreneurs over the next two years.
The awards, funded by SBS' Avenue NYC initiative, will be used to strengthen CBDOs' capacity to carry out tailored, multi-year commercial revitalization programs in low- and moderate-income communities. The multi-year awards aim to enhance the capacity of CBDOs to understand local neighborhood needs and deliver impactful community development projects.
The initiative, called NYC °CoolRoofs, installs a white, reflective coating on buildings in heat vulnerable neighborhoods to reduce building energy consumption and internal building temperatures during the hot summer months. The initiative also provides local jobseekers with training and paid work experience coating these rooftops, and is now recruiting for its next cohort, which begins on May 6.
The City has successfully implemented Small Business First, a set of interagency policy and procedural changes that are expected to save businesses $50 million annually. Since the launch of this initiative, the time to complete common business transactions, such as obtaining permits and licenses, has been reduced by 30 percent.