HQ2 still dominating economic development conversation

It has been six months since Gov. Andrew Cuomo and New York City Mayor Bill de Blasio first announced that Amazon would open half of its second headquarters in Long Island City – and three months since the cloud computing and internet retail giant abruptly canceled those plans. But there’s no sign that the conversation about one of the biggest tech stories to ever hit New York is dying down – as evidenced by changes to economic development practices proposed by state Sen. Michael Gianaris earlier this week.

Gianaris, the state Senate deputy leader who became one of the most public opponents of the HQ2 deal, has no shortage of policy proposals inspired by the deal-gone-wrong. This latest one would focus on increased oversight of New York’s economic development process. Primarily, the proposal would require that major deals be accompanied by a social impact study – comparable to an Environmental Impact Study – to address needs like housing and transportation funding before gaining approval.

“For too long we have funded economic development without considering the impact it has on our neighborhoods,” Gianaris said in an emailed statement. “It’s time to change that and insist on development that helps our communities rather than hurts them. We must prioritize the benefit of everyday people and not just wealthy interests.”

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