Brooklyn Navy Yard

19 Mar

Revitalizing the manufacturing sector in the U.S. is an important economic development strategy to create well-paying middle class jobs.  Cities throughout the United States are piloting ways to advance this goal.  New York City is developing this strategy through the Brooklyn Navy Yard, a 300 acre, city-owned industrial park along the Brooklyn waterfront.  At its peak, the Brooklyn Navy Yard produced warships for the U.S. Navy. Today, it houses 330 businesses in film, media, design, and cleantech sectors, and employs about 5,800 people.

The Pratt Center just released an analysis of the Brooklyn Navy Yard’s economic impact. The report found that the Navy Yard is an engine of economic activity in the City, and is responsible for $1.93 billion in economic activity in 2011 and are expected to grow in the coming years. Furthermore, the report has a section with recommendations to replicate the Brooklyn Yard model in other cities.

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