The Effects of Economic Development Incentives in New York City on Employment and Personal Income

With such a volatile economy, there exist few, if any, quick remedies to ensure that the country sustains high employment levels while progressing towards widespread living wage earnings. As the events in New York City spread throughout the rest of the country, the entire nation has been speeded into an economic downturn. While there are undoubtedly many other factors that contributed to the nation’s woes, there is now a greater sense of urgency to remedy the economic situation. Now is certainly the time to determine whether popular tools like economic development programs are reliable methods for stimulating economic growth and stability. The Capstone team attempted to explain how two variables of local “well-being,” specifically employment and aggregate earnings, are affected by economic development programs in New York City.