Manhattan the key: biz leader

QUEENS CHRONICLE, Thursday, June 24, 2021 Page 8

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For Queens to recover, Manhattan must

by Thomas J. Grech

It’s been a very difficult 14 months for Queens. New York City and Queens in particular were the epicenter of the pandemic in the United States, and our neighborhoods were amongst the hardest hit. Not only did Covid take the lives of thousands of our friends and neighbors, but it also took a tremendous toll on our local economy. A year ago, unemployment was at levels we had never seen in our lifetimes. The small businesses that create jobs and opportunity and add to the character of our neighborhoods struggled to survive, with many sadly closing their doors to customers for good.

Thankfully, we’re turning the corner. Over 70 percent of adults in New York are now at least partially vaccinated. Restrictions are being lifted and people are returning to their prepandemic routines. But the small businesses we lost won’t magically reappear, and those that survived are still hanging on by a thread. There is still work to do to get our economy back on track.

As the president and CEO of the Queens Chamber of Commerce, the oldest and largest business association in Queens, it’s my job to advocate for our borough and the businesses that call Queens home. But in times like these, it is important to take a look at the bigger picture as a New Yorker.

Queens is vitally important to our city, state and regional economy. At the same time, however, Manhattan is the hub of our regional economy. If businesses in Manhattan are struggling, it will be nearly impossible for businesses in our borough to recover. Here’s why:

According to a 2017 report released by the New York City Department of City Planning, of the 1.1 million employed Queens residents, 36 percent worked in Manhattan. That’s a huge number. Folks who work in Manhattan come back to their neighborhoods and spend money in local restaurants, stores and other businesses. This allows local Queens businesses to grow and employ more workers.

While a plurality of Queens residents (43 percent) work in their home borough, many of these jobs are tied to Manhattan. Industries that are major drivers of economic activity and jobs in Queens rely on their proximity to Manhattan. Service industries like plumbers, electricians, HVAC specialists, elevator service companies and similar providers.

Take for example the aviation industry. Queens is home to two airports, LaGuardia and John F. Kennedy International. They employ over 50,000 people and contribute $64 billion in economic activity to the region. Without travelers visiting Manhattan for business or tourism, the airline industry, and the jobs and economic activity they bring to our borough, will struggle.

Queens is also home to residential real estate development that creates middle-class, union construction jobs. But if Manhattan doesn’t regain its status as the country’s preeminent economic hub, will developers want to build more housing here?

Queens has everything a business needs to grow and thrive. We have world-class institutions of higher education. We have a diverse workforce that speaks nearly every language on earth. We have a thriving arts and culture scene. For businesses that know they want to employ the most talented workers, Queens is the place to be. That’s why companies like Altice, Resorts World, WeWork, Delta Air Lines, NY Presbyterian, Northwell, JetBlue and thousands of others want to be here.

But another one of our major assets is our proximity to Manhattan. Queens residents rely on Manhattan for employment, and the success of Queens businesses will largely depend on Manhattan’s success. There can be no recovery for Queens unless our neighbor to the west returns to prominence. Our futures are intrinsically linked. Q

Thomas J. Grech is President and CEO of the Queens Chamber of Commerce.

LaGuardia Airport is a key part of Queens’s economy, but it relies on people going to and from Manhattan, and as the regional business hub, that borough must recover in order for this one to do so. PHOTO BY MICHAEL SHAIN