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. The organization is responsible for over $900 million in new investments, the creation of over 12,500 jobs, the development of over 6,000 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. Cesar J. Claro serves as the President & CEO of the organization.
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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.
Projects and programs
- West Shore Light Rail – SIEDC's "signature project and highest priority", SIEDC plans to build a 13.1 mile public transit system with stops from Richmond Valley to Elm Park costing around $1 billion. It is envisioned by the SIEDC that there will be nine stations in places such as Richmond Valley, Staten Island. This would bring commuters over the Bayonne Bridge connecting with New Jersey Transit's Hudson-Bergen Light Rail, which leads PATH trains into Manhattan. A 2009 study conducted by SYSTRA Consulting found an estimated daily ridership of 13,000 (26,000 trips) and travel time of 55 minutes from the South Shore of Staten Island to lower Manhattan. Benefits of 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.
- Aerial Tramway – In 2015, SIEDC began advocating for a unique new mode of transportation for Staten Island, an aerial tramway that would connect Staten Island with lower Manhattan. The tramway proposal was designed to help alleviate traffic and congestion caused by commuters and tourists, especially in light of recent developments taking place on Staten Island’s North Shore. Based on SIEDC’s estimations, the tram could move approximately 15,000 people daily to and from Manhattan.
- World Expo – On June 3, 2015, SIEDC launched an initiative to bring the 2025 World Expo to the former Fresh Kills Landfill site on Staten Island. The landfill closed in 2001 and is slated to become a 2,200 acre park, although funding issues have come into play for the development. Holding a World Expo at the site would provide much needed infrastructure and improvements. SIEDC’s plans call for finding a New Yorker to fund the project and application process. Bidding for the 2025 World Expo begins in 2016 and selection of the site will be made in 2018.
- Green Zone – To be one of the first boroughs to go green, the Green Zone is an area on Staten Island that expands from Goethals Bridge to Arthur Kill Road to the shoreline of Richmond Avenue (approximately 1,100 acres of scarcely used land). It is an area that is to act as the "go to place" for companies that are preparing to take their business to the next level. 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. 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.
- West Shore Brownfield Opportunity Area (BOA) – The West Shore BOA is a 179-acre site consisting of approximately 25 property owners and 50 businesses. Under the New York State Department of State $360,000 grant, SIEDC will complete a revitalization plan focused on land use, transit oriented development and incentives.
Neighborhood Development
SIEDC has been working for many years to create Business Improvement Districts (BIDs) for Staten Island. In November 2014, NYC Mayor Bill de Blasio signed a bill officially designating the West Shore Industrial Business Improvement District. In March 2015, the South Shore Business Improvement District, which includes the towns of Annadale, Eltingville and Great Kills, was approved by the NYC Council. SIEDC has also launched the New Dorp Merchants Group and Richmond Road Merchants Association, with the hope that they will eventually become BIDs as well.
Membership
To achieve SIEDC's mission, the organization relies on support of small business, corporations, and etc. SIEDC offers nine 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. Watchers learn about Staten Island businesses and nonprofit organizations make great impacts in their communities with the help and support of SIEDC.