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.”
In response to the nation’s troubled prison system and the disturbingly high rates of repeat arrests for released prisoners, local Brooklynites Cisco Pinedo and Tommy Safian have founded Refoundry — an appreciation of all people and things once lost and now found.
The tweet goes on. For the third year, Brooklyn Based‘s Indie Media Camp drew local bloggers, social media mavens, and online educators to Dumbo’s Made in NY Media Center on Wednesday.
When MindBodyGreen decided to move into a new 10,000-square-foot office at 45 Main Street, founder Jason Wachob made sure the space put the company’s mindful ethos front and center.
Vice’s Williamsburg office
It’s not just Brooklyn the brand that’s expanding — so are borough based companies.
Brooklyn-based 3D printing company MakerBot might be doing a lot less hot than their plastic melting machines.
FreshDirect may be making yet another move — this time to Brooklyn.
The 13-year-old online grocery-delivery company is currently in the process of moving out of its Long Island City location and up to a new facility in the South Bronx, but apparently it needs even more space.
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.
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.
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.