Our story began in 1966 with the creation of the New York City Public Development Corporation (PDC), designed to help revitalize the then-struggling NYC economy. In 1991, the City formed NYCEDC through the merger of PDC with the Financial Services Corporation, creating a one-stop shop for the City’s economic development activity. Today, our divisions take on every aspect of economic development, including managing 66 million square feet of City-owned real estate; building and maintaining crucial neighborhood infrastructure like markets, piers, airports, and waterfront properties; and investing in dynamic industries looking to grow or expand in New York City.

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