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Also, Detroit seems to be showing some signs of life recently.
The auto industry picked back up. I dont think New Yorkers should make fun of Detroit, Detroit changed the world in more ways than NYC has, simply putting people on the road with automobiles. The last great NYC export was HIp Hop 30 years ago.
I don't necessarily agree with that Bronxguyanese...I think the most recent great NYC export is our reimagining of urban development into dense, mixed income, green, transit oriented communities (Melrose for example)...which cities from around the country are studying and replicating. The Via Verde in Melrose is a prime example of the renaissance and leadership of NYC's new urban development.
Deadtroit is showing signs recently? They have appointed an emergency manager to take over the City. The place is riddled with debt. Their is zero signs of recovery. BTW the auto industry is a a smoke and mirrors problem. Ford is the only one of the big three that did not take one cent of federal bailout cash. Does NYC need a stronger middle class? Hell yeah but we also need top earners also. With so many people in the Bronx on the dole someone needs to pick up the tab. Middle class and upper class. Also remember what would happen to a steakhouse if their were no top earners there eating? It would close shop which in turn would lay off the waiter/waitress, bartender, barback, busboy, coat check, bathroom attendant, and chefs.
Last edited by Norwood Boy; 03-25-2013 at 11:45 AM..
The other thing is, since NYC real estate is so expensive, what manufacturer would pay Manhattan prices for land? Companies like Boeing, Lockheed Martin, Intel, IBM, Caterpillar, GE (all of which still do manufacturing in the US) are going to prefer smaller places with more space and cheaper real estate and lower taxes.
The companies that prefer high cost locations tend to be banking, media,the tech sector, education, and certain other industries that benefit from high concentrations of skilled and trained people not found in large numbers elsewhere. For them its worth it to pay the extra costs of doing business here.
Do keep in mind that clothing manufacturing, even when it was more commonly done in the US, never paid well. Ditto for making things like toys.
In terms of other cities copying NYC's transit oriented development, in the past 20 years Los Angeles has been rapidly building out its mass transit network. Ditto for other places like Atlanta, GA.
NYC real estate taxes are expensive? Not sure about that when comparing taxes in the City to Westchester or nassau counties. It's been a trend in the whole country even in cheaper areas. I invite anyone to take a spin to Buffalo or Niagra falls on the USA side. Rust belt central. Honestly, I would spend a couple bucks more for something made in this country.
Deadtroit is showing signs recently? They have appointed an emergency manager to take over the City. The place is riddled with debt. Their is zero signs of recovery. BTW the auto industry is a a smoke and mirrors problem. Ford is the only one of the big three that did not take one cent of federal bailout cash. Does NYC need a stronger middle class? Hell yeah but we also need top earners also. With so many people in the Bronx on the dole someone needs to pick up the tab. Middle class and upper class. Also remember what would happen to a steakhouse if their were no top earners there eating? It would close shop which in turn would lay off the waiter/waitress, bartender, barback, busboy, coat check, bathroom attendant, and chefs.
Exactly. Detroit is a dead city. Just like Camden, NJ but far worse.
NYC real estate taxes are expensive? Not sure about that when comparing taxes in the City to Westchester or nassau counties. It's been a trend in the whole country even in cheaper areas. I invite anyone to take a spin to Buffalo or Niagra falls on the USA side. Rust belt central. Honestly, I would spend a couple bucks more for something made in this country.
I always ask if is it made in America. If not, I try to find a substitute that is. Sadly, most of the furniture you buy is made is China, many electronic components (LG), machinery for manufacturing, etc.
Hi-tech is the only real avenue for growth that would be viable in NYC for all the reasons you already outlined. Real Estate, taxes, etc. are very high, so why would any plant want to come to NYC? Unless they get a massive tax break.
NYC real estate taxes are expensive? Not sure about that when comparing taxes in the City to Westchester or nassau counties. It's been a trend in the whole country even in cheaper areas. I invite anyone to take a spin to Buffalo or Niagra falls on the USA side. Rust belt central. Honestly, I would spend a couple bucks more for something made in this country.
I wasn't comparing NYC real estate taxes to Westchester or Nassau counties, which are hardly manufacturing hubs I might add. I was comparing NYC real estate taxes to those in the Sunbelt. Those states typically have much lower real estate taxes. Even a state like California(real estate taxes there can only be raised with approval from voters, or a 2/3rds majority of the state legislature). So high NY taxes, along with high NY real estate costs means that metro NY, whether city or suburban, is not going to be the number one destination for those wanting to do manufacturing in the US. When foreign auto companies come to the US, they build factories in the South. Boeing builds factories in the West and the South. Ditto for Intel. There is a semi conductor manufacturing industry near Albany, as they got huge tax credits for it, but that's still nowhere near Metro NY.
It takes startups awhile before they can employee enough people to make a huge difference. But the Bronx does have cheaper real estate, and there are a lot of buildings, especially in the South Bronx, that start ups would love to use. Perhaps this trend will accelerate with NYC's new tech school and other initiatives started by Bloomberg.
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