October 12th - October 18th, 2007

Building Boom Brings More Construction Jobs to the City

October 17^th: The New York Daily News "Business Buzz" reported this week that construction spending in the city will reach $83 billion between this year and 2009. A related article in the New York Sun reported that the number of construction jobs is at a record high, citing a new study by the New York Building Congress that estimates an increase of as many as 14,000 jobs from 2006 to 2009.

The Building Congress study reveals that the new jobs come despite an expected two-year decline in residential construction, during which time the construction of residential units is expected to drop by 5,000 units. However, study results forecast that a "host of large commercial and infrastructure projects to lift spending to all-time highs," according to the Sun.

7 World Trade Center Gets New Tenant

October 16^th: The NCR Corporation announced this week that it has signed a lease for office space in 7 World Trade Center. NCR is a global technology solutions provider and worldwide leader in ATMs, digital check processing, and other point-of-sale devices. It employs around 2,000 people in the United States and 29,650 in more than 100 countries around the world.

"NCR's decision to move its executive offices to the World Trade Center site is further evidence of the continued revitalization of Lower Manhattan," Governor Eliot Spitzer said in a statement. "Together with JP Morgan Chase's recent commitment to build and relocate its investment banking headquarters downtown, we are seeing positive signals that Lower Manhattan remains a global center of commerce," he continued.

The Fortune 500 company will house 200 employees in its new 37^th floor offices at 7 World Trade Center, according to a report in the New York Times. Lower Manhattan Development Corporation Chairman Avi Schick also praised the decision as a good indicator for the downtown area. "Lower Manhattan continues to attract the corporations that are solidifying its place as global business center," he told the Times.

Lower Manhattan Cultural Council Appoints New President

October 15^th: The Lower Manhattan Cultural Council (LMCC) appointed Maggie Boepple its president, citing her ties to New York and to the arts as strengths she will bring to the organization. "We look forward to working with her as she leads LMCC in its next phase of growth, building on an already stellar record of presenting, supporting, and advocating for arts and culture," LMCC's Board Chair Cherrie Nanninga said in a statement announcing the appointment.

Boepple spent three years as senior advisor to the commissioner of transport for London, where she developed strategy and led efforts to transfer the London Underground to the London government. Here in New York, she served during the Koch administration as the city's first female chief lobbyist, going on to become the director of intergovernmental relations, representing the city's interests with federal, state, and local government entities. Her years in public service also include work with the Metropolitan Transportation Authority and the City University of New York.

Boepple is expected to join the LMCC in late October.