9DavidGilford_NICHI_BusinessSummit

Resiliency & economic development in NYC

David Gilford, Vice President, New York City Economic Development Corp.

May 7, 2014

Agenda

Introduction to NYCEDC

Sustainability, resiliency and the economy

Encouraging innovation to solve these challenges

What is NYCEDC, and why do we care about resiliency?

We have three main functions:Develop properties and manage City real

estate assetsOversee capital construction via a $2 billion

capital programProvide advice and implement programs to

strengthen the City’s competitive position

And one overarching goal: to strengthen and diversify the City’s economy, while increasing economic mobility for every New Yorker

We support policies including PlaNYC, for a strong, sustainable economy through 2030 and beyond

Hurricane Sandy showed that a sustainabile city must also be resilient

$19 billionEstimated damage

100% Fuel terminals in the NYC metro area shut down for 3 days

35,800 Buildings with impacted telecom systems

23,400 Businesses in areas inundated by floodwaters, 95% of which employed 50 people or less

In 2014, we see several trends creating economic opportunities while helping reach policy goals

2. Climate AdaptationResiliency technologiesInfrastructure innovation

3. Technology EntrepreneurshipIT & energy convergenceInternational partnerships

1. Energy EfficiencyLarge building retrofitsDistributed generation

1. More efficient energy production and consumption will save money and create jobs, while minimizing impact of potential disruptions

New York City’s energy patterns…

Highest electricity rates in continental US

~$15 billion per year in energy spending, nearly 80% of which is through buildings

1 million buildings, but largest 2% of buildings use 45% of total energy

…create a large market for efficiency & distributed generation

Goal of 800MW clean distributed generation by 2030

Cogeneration, fuel cells and solar power are experiencing rapid growth

Green building legislation promotes transparency and energy efficiency upgrades

2. Climate adaptation requires both investment and innovation in comprehensive resiliency measures

Hurricane Sandy caused $19 billion in damage By 2035, similar storm would cost $35 billion By 2050, $90 billion

Small businesses were impacted especially hard, and many remain vulnerable

Key future risks include Sea level rise Extreme storms Wind damage Utility failures

“A Stronger, More Resilient New York” outlined more than 200 proposed measures, from coastal protection to technology innovation

RISE: NYC is a worldwide, $30M competition seeking innovative technologies that:

Improve the resilience of energy, telecom and building systems

Are innovative and ready for deployment

Are cost-effective, scalable, and can be easily replicated

Create positive economic impacts

Catalyze additional investment in buildings and infrastructure

Eligible technologies and projects enhance the resilience of buildings and infrastructure networks

Building systems Fire protection Electrical

equipment HVAC systems Plumbing

Energy infrastructure Electric power Natural gas Steam Liquid fuels

Telecommunications Wired

communication infrastructure

Wireless infrastructure

Data platforms

Much opportunity remains to better translate NYC’s sustainability achievements to company formation and local employment

Urban Future Lab is a Brooklyn-based hub for startups solving sustainability and resiliency challenges with an incubator, demonstration space, and educational programming

Initial exhibition showcases success stories of resiliency after Hurricane Sandy – and in the future will demonstrate new technologies

3. Local sustainability innovation is accelerating through technology entrepreneurship

Thank you.

Links: nycedc.com rise-nyc.com nyc.gov/planyc

Questions?

Contact:David GilfordVice President & DirectorCenter for Economic TransformationNew York City Economic Development [email protected]