Staten Island Economic Development Corporation

Staten Island Economic Development Corporation (SIEDC) is a 501(c)(3) non-profit organization that serves as a lead advocate for economic development of Staten Island's economy.^[1] The organization is responsible for over $550 million in new investments, the creation of over 3,500 jobs, the development of over 1,000 acres of vacant industrial land by providing assistance to developers and companies implementing projects in the borough, while at the same time serving the smallest entrepreneur and small business owner with tailored financing, procurement, and real estate assistance. Every year approximately 3,000 businesses and individuals are assisted by the SIEDC through financing assistance, tax incentives, job training and technology assistance. Since its establishment, SIEDC has organized and planned yearly community events to benefit the public at no cost, such as the SIEDC Annual Business Conference, the Staten Island Green and Clean Festival, and the Staten Island Health and Wellness Expo.^[1]

Mission

Established in 1993, SIEDC’s mission is to enhance Staten Island’s economy by promoting public and private investment, and encouraging responsible and sustainable development, all of which improve the quality of life and provide broad and diverse employment opportunities in the borough.^[1]

Projects and Programs

1. West Shore Light Rail - SIEDC's "signature project and highest priority",^[2] SIEDC plans to build a 13.1 mile public transit system with stops from Richmond Valley to Elm Park costing around $1 billion.^[3] It is envisioned by the SIEDC that there will be nine stations in places such as Richmond Valley, Staten Island.^[4] This would bring commuters to the Bayonne Bridge connecting with New Jersey Transit's Hudson-Bergen Light Rail, which leads PATH trains into Manhattan.^[5] Benefits to the West Shore Light Rail to SIEDC are trips diverted from congested roadways, travel time savings, improved reliability, increased property values near stations, minimize impacts to both the preexisting natural and human-made environment, minimize community impacts, and lastly, support community economic development goals and provide economic benefits to the locations to be served by the light rail. However, SIEDC is facing many conflicts in creating this rail. Some of these conflicts include reluctance by the Metropolitan Transportation Authority, competition for capital project dollars in New York State, and fiscal constraints.^[4]
2. Green Zone- To be one the first boroughs to go green,^[6] the Green Zone is an area on Staten Island that expands from Goethals Bridge to Arthur Kill Road to the shoreline of Richmond Avenue^[5] (approximately 1,100 acres of scarcely used land^[6]). It is a place that is to act as the "go to place" for companies that are preparing to take their business to the next level.^[1] It is mainly aimed to attract green technology companies and venture capitalists. The goal of the Green Zone is to create new energy-efficient construction (or retrofitting of existing buildings), clean energy business developments and renewable energy projects. With the Green Zone, Staten Island's economy would diversify.^[6] The New York State Energy Research and Development Authority has offered financial incentives and technical assistance to businesses seeking green initiatives. So far, out of the 285 companies in the area, 40% are already operating or have potential to operate as green companies.^[5]

Membership

To achieve SIEDC's mission, the organization relies on support of small business, corporations, and etc. SIEDC offers ten different levels of membership and has over 200 members.

"Beyond The Ferry"

"Beyond The Ferry" is a web series that can be found on YouTube.^[1] Watchers learn about Staten Island businesses and nonprofit organizations make great impacts in their communities with the help and support of SIEDC.^[7]

References