The Brooklyn Encyclopedia

Business & Economy

Growth, displacement and the future of urban enterprise in Brooklyn

Brooklyn leads New York State in new business applications and is a center for micro-enterprise, advanced manufacturing and climate technology. This volume also examines gentrification, commercial displacement, regulatory barriers and the public incentives and capital that support local business.

11 chapters
26 min read
4 tables
55 sources
Updated Friday, October 9

Start reading

Introduction to the Brooklyn Economic RenaissanceOnce an industrial powerhouse, Brooklyn is now a hub of the knowledge economy, micro-enterprise and climate technology, yet its growth comes with sharp contradictions.2 min read
Macroeconomic Environment and Labor Market DynamicsBrooklyn's labor market has proved resilient, but youth unemployment, wage stagnation and inflation weigh on its recovery.3 min read
The Geography of Industry: Protecting and Modernizing the Manufacturing BaseThrough Industrial Business Zones, New York City deliberately preserved Brooklyn's industrial land and turned it into a base for advanced manufacturing.1 min read
Public Industrial Assets: Brooklyn Army Terminal and Bush TerminalPublicly owned campuses in Sunset Park are the crown jewels of Brooklyn's industrial retention strategy.3 min read
Innovation Hubs and the Climate Tech EcosystemWaterfront space has allowed Brooklyn to host hardware, deep-tech, climate-tech and health-tech ventures alongside its software and media firms.3 min read
Gentrification, Displacement, and Small Business VulnerabilityThe forces behind Brooklyn's renaissance have also displaced the legacy small businesses that served long-time communities.2 min read
Racial Disparities and the Commercial Real Estate MarketJob growth in gentrifying neighborhoods has largely bypassed residents of color, while retail rents rise and a commercial rent stabilization bill is debated.3 min read
Regulatory Friction and Barriers to EntryNew York's LLC publication requirement acts as a regressive cost on Brooklyn's smallest entrepreneurs.2 min read
Public Policy, Incentives, and Support Ecosystems: Spatial Tax IncentivesREAP, ICAP, Excelsior Jobs, ECSP and CEP use tax credits and abatements to steer where businesses locate and invest.3 min read
Access to Capital and Institutional SupportAlternative lenders, municipal business centers and the Brooklyn Chamber of Commerce help small and minority-owned firms secure funding, certification and markets.2 min read
ConclusionBrooklyn is thriving yet polarized, and its future depends on equitable public policy.2 min read

All 55 sources of this volume

← All volumes

Contents

Stay in the loop