The city is committing a minimum of $1.35 billion to create 100,000 jobs over the next decade that pay at least $50,000, officials said on Thursday.
The price tag was among the first details provided by the administration about the mayor’s jobs plan, which he released in broad strokes at his State of the City speech in February.
Among the actions to spur job growth — above what would naturally occur in the private sector — are training programs, tax incentives and re-zonings to help create more modern office space.
“We can’t just continue to rely purely on the financial services sector and the upper-end sectors to support all the people in the city,” Deputy Mayor Alicia Glen told reporters at City Hall.
“Automation and technology are fundamentally transforming the workforce, and if we don’t think of the areas where people who are not either hedge fund managers or people who are working as home healthcare aides — all the people in the middle — if we don’t think about where those people’s economic futures lie, then we’re being very shortsighted.”
Specific investments over 10 years contained in an 114-page “New York Works” booklet released Thursday include:
- $30 million to create 3,500 jobs in cyber-security, including a commitment to growing local talent
- $91 million toward 4,000 jobs in the freight industry, with investments in infrastructure in Hunts Point and the South Brooklyn Marine Terminal
- $7.5 million to create 500 on-the-job apprentice positions in fields such as healthcare and life sciences, modeled after a successful program in Germany
The investments are designed to create 30,000 new jobs in innovative technology, 20,000 jobs in industrial and manufacturing, and 15,000 jobs in healthcare and life sciences.
An additional 25,000 jobs will come from new work space spurred by the city or created by private developers through tax breaks, and another 10,000 jobs will be in the creative and cultural fields.
Officials said $1.1 billion has already been added to existing expense and capital budgets, and $250 million more will be added in November and January.
Those costs don’t include huge tax incentives the city will offer — as much as $300 million in the life sciences sector alone — nor programs whose costs are not yet known.