A New York City-based organization that is developing the world’s tallest observation wheel on Staten Island has Penn students on its radar.
President of the New York City Economic Development Corporation Kyle Kimball addressed a packed room of Penn students, including many from real estate clubs, on Monday evening to explain the purpose of the NYCEDC and its numerous job opportunities for soon-to-be graduates.
An organization dedicated to strengthening the economic situation of various neighborhoods in New York City through developing infrastructure, the NYCEDC works in roughly three lines of business: construction asset management, large-scale real estate development and consulting.
Although classified as a corporation, NYCEDC works for the city and reports to Mayor Bill de Blasio . Working hand-in-hand with the city government allows NYCEDC to quickly secure contracts and deals. With a staff of 400 and over $800 million in yearly revenue, NYCEDC acts as a unique “think-and-do tank” by developing large-scale projects within New York City and utilizing resources to implement them.
NYCEDC works to reinvigorate neighborhoods of New York City that have fallen behind in economic development in recent years. Kimball said that NYCEDC tries to consider “how to link people with places” and really figure out the economic situation of a neighborhood. It is important to think intentionally and consider resiliency in New York City, especially after the economic crisis of the past decade and the destruction caused by Hurricane Sandy, Kimball said.
In addition to the Staten Island observation wheel — which Kimball described as a giant Ferris wheel — recent NYCEDC projects include the new Luna Park on Coney Island, the Applied Sciences NYC engineering college and the beautiful Harlem River Park. Applied Sciences NYC was a major project started by NYCEDC in order to meet the increasing demand for engineers within the city’s expanding businesses.
During the event, Kimball stressed that before joining NYCEDC, he “never felt like he really cared about his work.” He encouraged attendees that no matter where their career paths led, they should care about what they do.
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