THIS IS QUEENSBOROUGH
queenschamber.org
COVER STORY
ESD HEAD DISCUSSES LEADERSHIP AMID COVID BY BENJAMIN FANG The last 11 months have been intense for Eric Gertler, president and CEO of Empire State Development (ESD). Nominated by Governor Andrew Cuomo for the post in August 2019, Gertler has led New York’s economic development agency since last September. Though the past year has “flown by,” Gertler has managed the agency through the COVID-19 pandemic and will help the state recover from its current crises. “Never did I expect the range of issues we’d have to deal with, particularly what the agency had to address and confront over the last four months,” he said. “You never know what to expect. You play the cards you’re dealt.” Prior to being appointed as the head of ESD, Gertler served as executive chairman of U.S. News and World Report. He was also a managing member of Ulysses Ventures, a multi-strategy investment fund based in New York City. This is Gertler’s second stint in public service. He previously served as an executive vice president of the New York City Economic Development Corporation. The former media executive, entrepreneur and published author noted that there are many similarities between the public and private sectors. He said Governor Cuomo in particular has “many of the same priorities that we have in the private sector,” including showing results and moving the ball forward. In the public sector, the main difference is that officials need to think more multi-dimensionally, Gertler said, and consider all of the different constituent groups. “That’s what makes the public sector challenging,” he said, “but also very exciting.” Coming into the role, Gertler said his personal goal was to lead the agency to do the most it can. In terms of agency priorities, he wanted to focus on increasing employment and opportunities
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ESD president & CEO Eric Gertler speaks at 2019 PITCHNY, a program to cultivate homegrown talent by expanding pathways for aspiring creators, as well as showcase diverse communities through film, TV and creative content.
for all New Yorkers, attracting businesses and supporting large infrastructure programs. Other goals included boosting the “I Love NY” initiative and building up the life science industry in the state. In March, the COVID-19 pandemic struck New York, forcing the agency to transition to activities to support the state’s response. Gertler said ESD was involved in defining essential workers and businesses, monitoring the supply chain and sourcing the necessary personal protective equipment (PPE) and other supplies. The agency also identified real estate or warehouses to store equipment and alternative locations for patients and health care workers. As the state recovers from the health and economic crises, Empire State Development will continue to focus not only on jobs and attracting businesses, but also supporting small businesses. Gertler said the agency has worked to ensure federal money goes to small businesses, which make up 98 percent of businesses in New York. The state created the New York Forward LoanFund program, which helps businesses
with 20 employees or fewer, particularly those unable to access federal dollars and minority and women-owned businesses (MWBEs). Additionally, ESD is helping businesses that want to retool and provide different types of PPE and COVID-related equipment. The agency has provided state grants and credits for those efforts. While Gertler acknowledged the challenges New York will face on an economic front, he said he is bullish and optimistic in the long term about the state’s future. “History is a great teacher,” he said, noting that the state came back after 9/11, the 2008 recession and Superstorm Sandy. “This state recovers after crises. It’ll do it again.” The reason for the state’s success, the agency president said, is because New York is “inhabited and filled with smart, talented, innovative and resilient people.” “It starts with the people,” he added. “We are New York tough.” Gertler said New York’s economy is not only important for the state, but for the whole country. He noted that before COVID-19, New York had close to a $1.7 trillion economy.
“I have no doubt New York State will get through the challenges,” he said, “and once again lead in terms of its economic resurgence.” As for attracting businesses, Gertler said a lot of companies still want to come back to the state and grow here because they see New York as the optimal place to set up a business. While life in the post-COVID world will be different, companies still want to be in a place that has access to the right talent and business environment. “New York has all of that,” he said. As the state continues to reopen in phases, Gertler said he’s seen what has happened in other states in terms of rapidly rising coronavirus cases and deaths. While he doesn’t know if New York will see another outbreak, he believes government needs to prepare for the worst. The basic game plan, he said, is to manage the health and safety of New Yorkers, while also being ready with equipment and guidelines in place. “We are preparing contingency plans to ensure that we are even better prepared in the event there is another outbreak,” he CONTINUED ON PAGE 14
