The Brooklyn economy is doing great, thanks to increasing population and jobs, according to a sweeping economic report released last week by the Brooklyn Chamber of Commerce.

Brooklyn added thousands of jobs last year, an increase of 5.8 percent, and in just one or two years may have more residents than Chicago, the third-largest city in the U.S.

“We’re growing,” Brooklyn Chamber of Commerce President and CEO Carlo Scissura told Brownstoner. “In a year or two, we will have more population living here than in Chicago. The trends show a good future for our population.” (more…)

Brooklyn CSA Farmigo

As the breeding ground for all things small-batch and locally produced, Brooklyn makes sense the home base for Farmigo, a startup that’s something like Seamless meets CSA. The company looks to be thriving, and it seems that both the Brooklyn consumer and venture investors see something in it too.

Farmigo announced Wednesday that they raised $16 million in Series B funding to expand their vision for connecting farmers with eaters. But the expansion is also physical — they’re planning to move this month from their Gowanus HQ into a new 8,800-square-foot space in Bushwick. (more…)


Perhaps nothing is as emblematic of both the old and new Brooklyn as the newly restored Kings Theatre in Flatbush. After a $93 million restoration, it opened in February for the first time in 40 years and has gone on to win a preservation award and kindle renewed interest in the area.

And now it will be acquired by Ambassador, a vertically integrated theater chain, which produces shows, sells tickets and runs theaters. The iconic theater was not an acquisition target on its own but is part of another theater group, ACE Theatrical Group, that Ambassador is acquiring, The Wall Street Journal reported Tuesday. Terms of the deal were not disclosed. (more…)

DUMBO facing downtown

You’ve heard of the 421-a tax incentive program, despised by the de Blasio administration and abhorred by many locals, who view it as an antiquated tax break no longer applicable to since-gentrified areas. 421-a, however, is not the end all of tax breaks.

REAP stands for the Relocation and Employment Assistance Program, a relocation tax credit for relocating commercial and industrial businesses, excluding retail and hotels. REAP provides business income tax credits to businesses previously located outside New York, or below 96th Street in Manhattan, that are relocating jobs to the outer boroughs or specified areas above 96th Street.