New York City Economic Development Corporation
Public-benefit corporation
New York City Economic Development Corporation
New York City Economic Development Corporation (NYCEDC) is a public-benefit corporation and nonprofit organization that serves as the official economic development corporation for New York City. According to the City of New York and NYCEDC, its mission is to promote economic growth in the five boroughs by strengthening the city's competitive position, encouraging private investment and job creation, and managing City-owned real estate and infrastructure. NYCEDC is organized as a 501(c)(3) not-for-profit corporation and acts as the city's primary vehicle for economic development programs and public–private partnerships. NYCEDC manages properties and projects on behalf of the City, administers business incentive and financing programs, and supports initiatives in sectors such as technology, life sciences, manufacturing, and the green economy.
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