New York City Economic Development Corporation is a 501(c)(3) not for profit corporation. EDC is the City's primary vehicle for promoting economic growth in each of the five boroughs. EDC's mission is to stimulate job growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. EDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities.

History

New York City Economic Development Corporation (NYCEDC) was formed in 2012 as a result of the merger of New York City Economic Development Corporation into New York City Economic Growth Corporation. The newly merged corporation is named New York City Economic Development Corporation.

The prior New York City Economic Development Corporation was the result of a 1991 merger of two not-for-profit corporations that performed economic development services, and was part of a City plan to consolidate the various providers of economic development services, which also involved the consolidation of certain City agencies. Each corporation involved in the 1991 merger had been responsible for a wide range of projects and initiatives, all of which had the overarching goal of fostering economic development in the City.

Vision

To make New York City the global model for inclusive innovation and economic growth, fueled by the City’s diverse people and businesses. 

Mission

To create shared prosperity across New York City’s five boroughs by strengthening neighborhoods and growing good jobs.