October/November 2010 • Vol 92, Issue 5
NEWS FOR BROOKLYN BUSINESSES
Local, City Job Picture Holding Steady Strong sectors bolster lagging economy BY JILL D’AMICO New York City’s unemployment rate held steady at 9.4% in August after months of decline, according to the New York State Department of Labor. This is still better than the national rate, which rose to 9.6%, and some experts are looking at the gap as a sign that the city will continue to fare better and recover more quickly than the rest of the country. According to those same numbers, the city was responsible for all private-sector job growth in the state for the past year, an increase of 1.6%. This outpaces national private-sector job growth over the same period of time. This is welcome news after a rough summer for the state’s employment picture. Sea-
Crunching the numbers: economists are making sense of the latest labor statistics.
sonally adjusted numbers from the Department of Labor show that unemployment increased from 8.2% in July 2010 to 8.3% in August 2010. The number of unemployed New York State residents grew from 796,000
Annual fete to be held at El Caribe
Pre-application for training funds due Oct. 15 A scene from last’s year’s event. Sponsorship opportunities are available for the 2010 Winter Gala.
INSIDE
Tuesday, November 30. There are ample sponsorship opportunities available; please contact Rick Russo at 718-875-1000 ext. 148 for more information. For more information on how you can be a part of this amazing evening, or log on to www.ibrooklyn.com. n Do not forward
NEWSPAPER
Continued on page 4
Training Funds Available for Your Biz
Winter Gala Set for Dec. 2 BY JILL D’AMICO One of the most hotly anticipated Brooklyn Chamber of Commerce events of the year is right around the corner! The Chamber’s Annual Winter Gala will be held on December 2 at El Caribe Country Club in Mill Basin. The event, which will take place from 6:30 p.m. to 10 p.m., promises to be an evening of fun, festivity and networking. The business community is invited to dance the night away at this signature event, which will include cocktails and dinner as we celebrate the Brooklyn business community. Kosher and vegetarian meals will be available upon request. Advance registration is requested by
in July to 801,400 in August. But looking at the positive, a recent Crain’s New York Business article focused on Brooklyn’s momentum in job gains and real estate leasing, which outpaced Manhattan.
The 2009 Brooklyn Chamber of Commerce Member Issues Survey showed businesses were planning to hire and invest more than the previous year. And as recently as last month, the National Bureau of Economic Research, a private nonprofit research group considered the authority on economic movement, announced that the recession is officially over – and has been since June of 2009. This news has done little to calm the nerves of consumers and policy experts, however. "You can hardly call this a recovery if oneand-a-half million New Yorkers are unemployed or underemployed and if the overwhelming majority of those lucky enough to hold onto their jobs have seen their weekly earnings shrink as a result of the recession," said James Parrott, deputy director and chief Economist of the Fiscal Policy Institute. Adding to his concern is the gap between those in managerial/professional occupations and those in lower-level positions. In New York City, weekly earnings for
NYC Business Solutions Training Funds can be used for occupational skills.
The New York City Department of Small Business Services announced that pre-applications are now being accepted for NYC Business Solutions Training Funds. These funds provide up to $400,000 to fund 60-70% of eligible training costs. With a wide range of training accepted, funding is available for training that is on-the-job, off-site, led by your own managers or by external training providers. In addition to occupational skills, funding is also available for training in English as a Second Lan-
in the news Skills Training 3
in the news Biz Apps 3
guage, adult literacy, and basic math. To begin the application progress, find out if you are eligible for training funds by going to www.nyc.gov/html/sbs/nycbiz/ html/training/trainingfunds_preapp.shtml and filling out a pre-application that is due on October 15. Once your pre-application is received, an account manager will contact you. If you are eligible, you will be sent the full application. Account managers are available to provide free one-on-one assistance throughout the
NEtworking BAH at Uno’s 16
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Real estate & DEV Silhouette Hosts RED Nite 19
Real estate & DEV Navy Green 23
2 Brooklyn’s Progress
• october/november 2010
in the news
Job Creation Should Be Fair and Effective As we focus this issue of the Brooklyn’s Progress on our workforce, we should also take a look at strategies to job creation. This month’s Census report that nearly one out of seven Americans is living in poverty begs for solutions on the national, state and local level to encourage job growth. The Chamber is encouraged by the recent passage of the Sectors Act that will create industry partnerships to insure a steady pipeline of trained workers. It’s estimated that up to two to three percentage points could be knocked off our currently unacceptable national unemployment rate of 9.5% if jobseeker skills were improved to fulfill current employer needs. On the state level, Governor David Paterson introduced the Excelsior Jobs Program this past summer to replace the much-beleaguered Empire Zones program that awarded tax credits to businesses locating in distressed areas. However, over its two-decade track record, critics such as the Partnership for New York City charged that most of the Empire Zone subsidy went to real estate holding companies, utilities, professional services and retail stores – industries that, according to the critics, do little to drive economic growth. The Excelsior Jobs Program aims to address these shortcomings by focusing on targeted industries such as biotechnology, pharmaceutical, high-tech, cleantechnology, green technology, financial services, agriculture and manufacturing. Seventy-five percent of the program’s annual allocation of $250 million in wage, investment and research tax benefits will go businesses creating jobs in these industries. From the Chamber’s perspective, these are the right industries to target, as their multiplier effects will benefit the overall economy. The remaining 25% will be devoted to firms in strategic industries with at least 50 employees meeting certain cost-benefit thresholds in their capital investments. As the name implies, the Excelsior Jobs Program rewards companies that create a minimum of jobs in these industries. And that’s what concerns me. In order for a company to receive the panoply of tax credits, the company must – within a five-year period - create a minimum of 10 jobs in scientific research and development, software development or agriculture; 25 jobs in manufacturing; 100 in financial services and back office; and 150 in distribution. For the most part, our Brooklyn businesses are small. Indeed, most of our businesses have less than 20 employees – particularly in manufacturing. And because of the average Brooklyn business size, our businesses tend to hire and fire incrementally. (This lends to our borough’s relatively stable job base throughout successive recessions.) The minimum job thresholds that the Excelsior Jobs Program demands may simply be out of reach for even some of our robust companies. But then again, I am always willing to be proven wrong. n
Investing in Skills Training workers vital to getting economy back on track BY JESSIE HOGG Faced with high unemployment, businesses struggling to stay afloat, and an election cycle, policymakers are looking for a silver bullet fix for the economy. Unfortunately no such answer exists. But there are proactive steps that policymakers can take to ensure employers and workers can take part in economic recovery. For the past decade the world has been shifting to a knowledge-based, more technically oriented economy and the United States has been falling behind. This structural shift has created the beginnings of a gap between the skills that workers have and the skills that employers need – particularly in technical jobs – a skill gap that is projected to become more pronounced. Prior to the financial crisis, amidst a rapidly expanding economy, employers had little time to adequately address this issue and it certainly wasn’t a priority for policymakers. But with the economic downturn, now is the time that we must address our structural skill gap. We must respond not only to ensure workers have the skills to respond to employer demand when productivity picks back up, but also to fill jobs that are going unfilled right now. According to Narayana Kocherlakota, an economist and President of the Minneapolis Federal Reserve Bank, if the skills gap were to be closed, national unemployment could drop to 6.5% from 9.6%. Some have argued that there is no evidence of this structural skills gap. They haven’t talked to employers on the ground. According to a talent shortage survey conducted this year
by Manpower Inc., one-in-five employers reported that despite an abundant labor pool they still have positions for which they can’t find qualified workers – with a full two-thirds of HR professionals in health-care organizations reporting this to be the case. And a 2009 survey of industrial companies by Deloitte, The Manufacturing Institute and Oracle found similar results in other industries with 63% of life science companies and 45% of energy firms citing such shortages as well. A closer look at the Manpower Inc. survey creates an even deeper challenge: they found that middle-skill jobs, those requiring more than a high school diploma but not a four-year degree, are the hardest jobs to fill. This middle-skill gap is not simply the findings of a one-time survey but shown by Professors Harry Holzer and Robert Lerman to be a long-term trend moving forward – a trend that we desperately need to get ahead of now. These surveys and trends have been illustrated by stories from employers on the ground in media outlets across the country including the New York Times, Wall Street Journal, CBS Evening News, and CNN. There is substantial evidence that there is a problem. Now seems to be the right time to do something about it. But what should we be doing? First, we must thank policymakers for the action they have taken. In July, the House of Representatives passed with bi-partisan, unanimous support, the SECTORS Act (HR 1855), which would help to support and create demand-driven training in high-growth
Snap Up These Apps Smartphone utilities that translate to your business BY JILL D’AMICO As more and more business moves online, it is also becoming more mobile. With the rise of smartphones that can handle business tasks such as payments, data and word processing, applications – apps – are being developed at a fast clip to offer productivity and mobility in one package. There are currently a wide variety of apps, both free and paid, for a variety of smartphones, which have passed muster with business users.
sectors that is both responsive to the needs of employers and provides steadier employment outcomes for workers. Thanking New York’s House Members for their vote – and more importantly, telling them what this means for your industry – would go a long way in keeping this issue at the top of their priorities. Asking Senators Schumer and Gillibrand to help move the SECTORS Act (S 777) in the Senate could get us one step closer to the kind of industry-focused training policy that we need enacted now. Second, we need to address the low basic skill levels of our workforce. The National Assessment of Adult Literacy Skills (NAALS) Continued on Page 9
This app, which is available for iPhone, BlackBerry and Android phones, lets users hold instant web conferences, desktop sharing and other added features depending on the hardware. Documents to Go - www.dataviz.com Available for iPhone, BlackBerry and Android in either a free or premium option, Documents To Go is an all-in-one application with support for Microsoft Office, PDF, Apple iWork, and other files. You can easily view Word, PowerPoint, Excel and PDF files on your handheld. Dragon Dictation www.dragonmobileapps.com This iPhone app lets users dictate short text messages or emails using voice recognition software. This can save time if you don’t want to tap out short e-mails. Evernote www.evernote.com/about/download Versatile app for iPhone, Android, BlackBerry, Palm and Windows Mobile, Evernote lets you store short notes, images, or voice notes. You can synch the program to your computer for even more access.
Workplace productivity Dropbox - www.dropbox.com/iphoneapp This iPhone app lets you share files with coworkers, clients, you name it. It works the same as any online storage site – just upload your files and share. Analytics – www.analyticsapp.com Another iPhone app, which is also available for the iPad, this lets you keep track of your website’s Google Analytics results. Any business dependent on website traffic would be well served to be able to access visitor reports, content report, and event tracking.
A structural shift in the global economy has created the beginnings of a gap between the skills that workers have and the skills that employers need.
A screenshot of the Shoeboxed app, which allows users to scan receipts and keep track of expenses for reports and recordkeeping.
Fuze Meeting – www.fuzemeeting.com/ conference-features/iphone
Finance Invoice2go Lite www.iphone-invoice2go.com A powerful invoice app for iPhones, this lets you design, manage and send estimates, purchase orders and up to three invoices at a time. You can even add a logo to customize Continued on Page 20 Brooklyn’s Progress • VISIT ibrooklyn.com 3
economy
small business how-to
Continued from cover
workers in non-managerial/non-professional occupations fell by 4.3%, while those in managerial/professional occupations experiencing median weekly earnings growth of 9.5% between the first half of 2007 and the first half of 2010.
The event brought together ten of the top microfinance organizations in the borough.
Photo by Ilan Stern
Microfinance Power Local lenders gather to exchange ideas Recently, the NYC Business Solutions - Brooklyn Center hosted a Microfinance Roundtable Discussion, which brought together ten of the leading microfinance lenders serving the Brooklyn small business market to share best practices among themselves and to encourage stronger collaboration with the BSC services. The day proved to be a
success, with an excellent exchange of ideas among lenders. Lisa Efuni and Manuel Dominguez, both account managers for the NYC Business Solutions – Brooklyn Center, organized the program, which will hopefully become an annual event. NYC Business Solutions can assist you with a full range of business development services. To find out more about the services that are offered, call 3-1-1 and ask for NYC Business Solutions, or in Brooklyn call 718 875-3400. n
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www.ibrooklyn.com
Sector Reports According to state numbers, job losses have hit those in manufacturing, finance and construction sectors particularly hard. While Brooklyn’s manufacturing sector has been growing on a small scale, and real estate gains should bolster construction, its largest sectors have helped keep the recession from having a worse impact on the borough. In the state, leisure and hospitality added 24,600 jobs, the most of any sector over the year. Job gains within this sector were greatest in accommodation and food service. The educational and health services sector had the second largest increase in jobs over the past year, namely among health care and social assistance. Healthcare, hospitality and food service have remained Brooklyn’s largest employers in the private sector, gaining jobs in the last two years. Often, those who work in these sectors also live in the borough, according to the Brooklyn Labor Market Review, which makes it doubly impactful for these residents to bolster the community. Looking Ahead Meanwhile, the numbers continue to roll in, good and bad. While the Chamber prepares its latest Labor Market Review, economists are making sense of the mid-year statistics coming out now. Many await word from the Census, which was taken earlier this year, and in the meantime the Census Bureau has
Inset: New York State Commissioner of Labor Colleen Crawford Gardner.
released their American Community Survey, which showed that poverty levels remained flat in New York City, a welcome indicator that the city may indeed have fared better than most of the country. John Mollenkopf, director of the Center for Urban Research at CUNY, told the Wall Street Journal that while blue-collar work force continued its decline of many decades in New York City, professional and managerial work expanded, particularly in those vital sectors of education, health care and social services. However, Mr. Parrot said the American Communities Survey data don't reflect the impact of the recession on New York City because it entered the recession later than the rest of the country, and the numbers may continue to slow down to the rest of the country. “That doesn’t bode well for the recovery in consumer spending in New York’s neighborhoods,” he told the New York Times. n
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community briefs
St. Francis to Hold Month-long Series of Events for Women
The Women’s Center at St. Francis College and the Women’s Bureau, U.S. Department of Labor are sponsoring five special events as part of a month long effort to help young women become both financially educated and better prepared to enter the workforce. The goal is to reach young women as they start their career job search, with a focus on various aspects of getting jobs like negotiating and interview skills, financial education and the importance of mentoring. The first event is a panel of successful women’s leaders to be held October 5 at 4:30 p.m. in the Maroney Forum for Arts, Culture & Education. The speakers come from a wide variety of fields including green energy, sports, criminal justice and finance. They will talk about their keys to success, how they overcame obstacles and why they serve as role models.
New York Transit Museum’s Bus Festival
On Sunday, September 26, the New York Transit Museum held its 17th Annual Bus Festival. They partnered with Atlantic Antic, Brooklyn’s largest street fair, for an exceptional day of free family fun. During this popular event, 17 buses from the Museum’s vintage fleet were on view on Boerum Place, just off of Atlantic Avenue. In addition to boarding the buses, visitors took part in busrelated kids’ workshops, speak with bus experts, and purchase transit memorabilia from the Museum Store tent. The 17th Annual Bus Festival featured vehicles from the Museum’s historic fleet. Among the notable buses on view was Bus 1263, known as “Betsy,” a Fifth Avenue Coach double-decker bus that ran in Manhattan from 1931-1947. Additionally, visitors were able to board one of the new Novabus Low Floor Standard buses. Ninety of these articulated 62-foot long buses are now in use in Manhattan, the Bronx, and Staten Island. With off-board fare collection, they significantly reduce travel time, and are part of the effort to create bus-only traffic lanes throughout the city.
Center for the Study of Brooklyn (CSB) at Brooklyn College, HOB will examine factors that encourage or inhibit meaningful collaborations between cultural institutions and their communities. National Leadership Grants support projects that will advance the ability of museums and libraries to preserve culture, heritage, and knowledge while enhancing learning. The work will invite experts representing libraries and museums from various communities across Brooklyn and the nation to share their insight. The planning activities will produce a report with realistic recommendations for successful collaborations. The report will be disseminated widely throughout the national, cultural, and non-profit sectors. This important research is also supported by a matching grant from the Brooklyn Community Foundation.
At the Battle of the Badges, Randy Peers, executive director of Opportunities for a Better Tomorrow, and Samuel Ruiz, a trainee with Opportunities for a Better Tomorrow, present the Battle of the Badges championship trophy to Lt. George Ricco Diaz, FDNY team captain, and the FDNY players.
Venus Williams in conversation with Cat Greenleaf at the Brooklyn Book festival.
Photo by Kathryn Kirk.
Brooklyn Book Fest A Hit!
On September 12, the fifth annual Brooklyn Book Festival brought out thousands of book lovers to Downtown Brooklyn. With the extraordinary literary heritage, vibrant publishing community and international reading audience of Brooklyn and New York City as its backdrop, the Festival offered the best and brightest stars in contemporary literature. The hip, huge and free all-star literary lineup included Salman Rushdie, Naomi Klein, Paul Auster, Venus Williams, Nelson George, Sarah Silverman and many more, as well as children’s and young adult lit stars. The Brooklyn Book Festival showcased more than 200 national and international authors in readings and panel discussions as well as 175 booksellers, publishers, presses and organizations in an outdoor literary marketplace. Brooklyn Book Festival is presented by Brooklyn Borough President Marty Markowitz, the Brooklyn Literary Council and Brooklyn Tourism.
Brooklyn Community Services Help Teens Make Art
On September 11, students from the Brooklyn Community Services Adolescent Employment and Education Program (AEEP)—which provides at-risk youth in East New York, Brooklyn with an array of educational and vocational programs and ser6 Brooklyn’s Progress
At reception for St. Francis College, (from left): Jordhan Kerridge ‘11, Patricia Hynes, Roy Reardon ‘51, and Brendan Dugan ‘68.
vices—hosted 18 volunteers through Virgin Mobile’s “Free IP” event program and create incredible art and music experiences. Under the direction of Tracey Berglund, an accomplished Brooklyn artist, the students of AEEP created their own original art by designing a mural uniquely designed for their AEEP program site. The Adolescent Employment and Education Program (AEEP) provides adolescents between the ages of 16 and 21 who are diagnosed as seriously emotionally disturbed, with an array of educational and vocational services to help these youth achieve their full potential. To prepare them for employment, BCS staff provide remedial instruction, help them attain GEDs or high
• october/november 2010
school diplomas, conduct vocational assessments and job-readiness training, and arrange transitional employment opportunities to help facilitate job placement.
Heart of Brooklyn Wins Grant Funding
Heart of Brooklyn (HOB), a consortium of central Brooklyn’s most esteemed cultural institution, launched Building Strong Community Networks, a cultural research project, thanks to a National Leadership Grant from the federal Institute of Museum and Library Services (IMLS). In partnership with the Institute for Learning Innovation (ILI) and the
Move About Myrtle A Great Success
The Myrtle Avenue Brooklyn Partnership brought back “Move About Myrtle” for a second year beginning September 5. From noon to 6 p.m. every Sunday in September, five blocks of the avenue between Hall and Clermont were transformed into a temporary neighborhood plaza complete with free music, workshops, performance, games, arts and much more, all organized with the help of local community groups and Myrtle merchants. The kick off had a “Back to School” theme featuring programs from groups like Veggiecation, Shape Up NYC, and a dance party with local favorite DJ’s, Soul Summit. Attendees also picked up Explore Myrtle Avenue contest cards. Jam-packed with free activities, music, and merchant specials, the events included BAMcafe’s featured artists, the Brooklyn Food Coalition’s Good Food Fest, playful public art projects and performances and the first-ever bike/scooter/big wheel parade.
St. Francis Alumni Dinner
More than 40 St. Francis College alumni and friends attended a special reception with President, Brendan J. Dugan ‘68 and Chancellor Frank J. Macchiarola ‘62; hosted by esteemed alumnus Roy L. Reardon ‘51 J.D., a partner at Simpson Thacher & Bartlett, LLP and his wife Patricia Hynes on August 23 at the Westhampton Country Club in Westhampton Beach. Mr. Reardon has been involved with several high profile cases at Simpson Thacher & Bartlett including when he represented disabled golfer Casey Martin before the Supreme Court in Martin’s successful bid to ride in a golf cart while competing in PGA events. After cocktails and appetizers, Mr. Reardon welcomed guests, relating how a full-ride SFC basketball scholarship allowed him to attend college while continuing to help his mother. Reardon explained that everything we do in life, we do through and for family and that St. Francis College made it possible for him to accomplish all he has for his loved ones.
Brooklyn Bridge Park’s Pier One Officially Opened
Mayor Michael Bloomberg announced that five additional acres of Brooklyn Bridge Park have been opened to the public, including the first 2,000 feet of the park’s greenway, a 30-foot wide, scenic bikeway and walkway along the East River shoreline. The first section of the new greenway starts at the park entrance at Old Fulton Street and ends at the foot of Pier 2, approximately 2,000 feet to the south. Since 2002, more than 500 acres of new parkland have been created for New Yorkers. Brooklyn Bridge Park is a component of the Administration’s Waterfront Vision and Enhancement Strategy to revitalize New York
community briefs
City Tech Harnesses Wind Power
City’s more than 500 miles of waterfront. The newly opened sections of the park also include a recently established tidal salt marsh with an adjacent seating area composed of granite blocks salvaged from the old Willis Avenue Bridge in the Bronx. Planted with smooth cord grass, the tidal marsh will be a home to marine and aquatic bird life and allow park visitors to witness up close the tidal movements of the East River.
National Grid Honored By Latina Mag
National Grid has been recognized by LATINA Style magazine as one of the 50 best companies for Latinas to work in the U.S. The 50 best companies were selected out of an analysis of more than 800 of the most prominent corporations in the United States for maintaining their commitment to diversity despite the harsh economic conditions in today’s market. Among the principal areas of evaluation that make National Grid among the best companies for Latina’s to work include a Vice President for Inclusion and Diversity and a Global Inclusion & Diversity Council, both charged with guiding the company’s vision to be an employer of choice, an Inclusion Charter to provide a clean and consistent understanding of what an inclusive workplace means, Hispanic Professional Association and Women In Networks, employee resource groups to provide support and resources for the professional growth of National Grid employees and support the company’s I&D vision, and educational opportunities, alternative work policies, dependent/child care support, employee benefits, and job retraining.
Cullen Kasunic, vice president of NYC-based Wind Analytics, explains the principles of a small wind study to City Tech students. The pair of 95’ water towers in Red Hook, Brooklyn, is tall enough to produce good wind power and is ideally located by the water, where wind is strong. Photo by Debra Salomon
Battle of the Badges
New York’s bravest, the FDNY, scored a 2-0 victory over the Port Authority Police Department in the championship game of the Battle of the Badges Softball Tournament benefiting the Brooklyn nonprofit Opportunities for a Better Tomorrow. More than 2,000 people watched the FDNY, NYPD, NYC Department of Corrections, and Port Authority Police Department of NY and NJ play three games in the tournament, which was held Sept. 18, 2010, in Brooklyn Cyclones - MCUPark.
Opportunities for a Better Tomorrow serves over 2,000 people annually out of three locations, one in Sunset Park and two in Bushwick. The 2010 Battle of the Badges was sponsored by the Brooklyn Daily Eagle, Con Edison, Lutheran Healthcare, MCU, New York Post, Bridge Financial Group, HealthPlus, Sims Metal Management, CircMode Media, Ford Fiesta, National Grid, Morgan Stanley, and Silverman, Sclar, Shin, & Byrne. All proceeds from the Battle of the Badges will go to support the programs and services of Opportunities for a Better Tomorrow.
City Tech is in the forefront of a grassroots effort toward workforce training in alternative, clean energy. The college has introduced new classes in wind power, offering “Wind Power Workshop: A Hands-on Introduction to Small Wind Turbines (Residential and Commercial Buildings)” and “Urban Energy: Road Map for A Sustainable NYC,” which debuted in the spring and is being offered again this fall. The wind power workshop runs on Thursdays from October 14 through December 16, and the urban energy seminar takes place on Saturday, November 13. The Wind Power classes, supported by Workforce Initiative Development funding from The City University of New York, are the latest Continuing Ed “green” offerings. Other classes include “Intro to Urban Farming,” “Green Roofs/Living Walls,” “Green Facilities,” “Solar/Hot Water & Heating System Workshop,” “Photovoltaic Installation” and “Building Performance Institute (BPI) Certification.” The College also offers certification in Sustainable Technology. n
Download the Brooklyn Chamber Member logo. www.ibrooklyn.com.
Brooklyn’s Progress • VISIT ibrooklyn.com 7
business briefs
New York Methodist Hospital’s Allied Health Program Graduates Students
New York Methodist Hospital’s Center for Allied Health Education recently held its first joint graduation ceremony for students in four of its schools: the NYM School of Radiation Therapy Technology, the Bartone School of Radiography, the NYM School of Medical Technology and the EMS Institute. A total of 105 graduates were honored with heartfelt speeches and applause. A number of awards were presented to graduates for outstanding performance. In 2007, New York Methodist Hospital unified its allied health education offerings and created the Center for Allied Health Education. Since then, the Center has expanded from the four original schools represented at the graduation ceremony to also include the School of Diagnostic Medical Sonography, the School of Surgical Technology and most recently a program that will train licensed practical nurses.
Coney Island’s Luna Park Season Extended Through Fall
Mayor Michael R. Bloomberg announced that Coney Island’s amusement park drew more than 400,000 visitors this summer, more than any summer since Steeplechase Park closed in 1964. In May, as part of the City’s Coney Island Revitalization Plan, the City and Central Amusement International opened Luna Park – a new 3.1-acre amusement park featuring 19 traditional and cutting-edge state-of-the-art rides. Based on Luna Park’s success, the city announced plans to extend the 2010 season by three weeks through the end of October, with new programming, which will feature Halloween themes, to debut on October 15. The second phase of Luna Park – the Scream Zone – is on track to open for summer 2011 with an additional four rides. Among its new program offerings, Luna Park will debut Nights of Horror at Luna Park on Friday, October 15, which will run on weekends through Sunday, October 31.
Lutheran Healthcare to Expand Community Health Services With Grant
Lutheran HealthCare was recently awarded $4 million in HEAL NY (phase 15) funding and $300,000 from N.Y.S. Health Foundation to expand community health services in Brooklyn. The N.Y.S. Department of Health (DOH) and Dormitory Authority of the State of New York (DASNY) have awarded LHC the $4 million HEAL NY grant under the Healthcare Efficiency and Affordability Law for New Yorkers. The funding initiative is designed to support construction and renovation activities to expand lower-cost outpatient care. The new HEAL grant allows the Lutheran Family Health Centers (LFHC) to expand specialty care capacity at its Sunset Park Family Health Center and behavioral health care at its Sunset Terrace Family Health Center. The grant will also assist the network equip and acquire a new community health center in Brooklyn’s Red Hook neighborhood. In addition, the Lutheran Family Health Centers network received a $300,000 grant from the N.Y.S. Health Foundation to aid in the expansion of services of the future Red Hook clinic.
TD Bank Introduces Mobile App
TD Bank announced that its free mobile
8 Brooklyn’s Progress
Graduates of the New York Methodist Hospital’s Center for Allied Health Education.
cross-cultural issues, and may take courses in Downstate’s School of Public Health and obtain an MPH or doctoral degree.
Brooklyn’s Economy Heating Up
At the announcement extending Luna Park’s season: (from left) Council Member Domenic Recchia; BP Markowitz; New York City Economic Development Corporation President Seth W. Pinsky; Valerio Ferrari, President of Central Amusement International.
app is now available to download onto iPhone® and Android™ devices. The mobile banking app is free, secure and easy to use. Customers can download the app from iTunes® App Store, or the Android Market. Initially, customers can use the mobile banking app to find stores and ATMs, check deposit, loan and credit card balances, view pending transactions and account history, transfer funds and make bill payments. Current TD Bank Online Banking customers can download the app and get banking. TD Bank strongly encourages customers to enroll in TD Bank Online Banking so that they can use all the banking functions of the app.
National Grid’s Pipeline Program
National Grid is helping high school students from New York take an important step to becoming engineers with the launch of its “Engineering Pipeline Program,” the centerpiece of the company’s global “Engineering Our Future” initiative designed to inspire youth and attract and develop engineers for tomorrow’s workforce. The program offers high school and college students the chance to learn more about National Grid and the engineering profession through a structured six-year program. Engineering Pipeline Scholars will gain exposure to the engineering industry through classroom instruction, site visits, research
• october/november 2010
According to a recent article in Crain’s New York Business, Chamber Member Karen Auster of Auster Agency was quoted extensively in regards to retooling her company and taking risks to benefit from the eventual upturn. The article estimates that nearly 25,000 people living in Brooklyn found work during the first half of the year, according to the Department of Labor’s most recent statistics. Some 217,000 square feet of commercial space were leased in the first half of the year, up more than 250% from the first six months of 2009, according to a report released by Cushman & Wakefield Inc. This growing optimism has helped retail rents stabilize, and reports are that businesses are planning to hire.
and projects. Highlights of the Pipeline program include opportunities for paid internships, mentoring and job shadow opportunities and social networking activities.
Downstate Physician Awarded $3.68 Million to Train Geriatric Specialists Experts predict a looming health crisis unless more professionals are trained to care for the elderly. Carl I. Cohen, MD, distinguished service professor and director of geriatric psychiatry at SUNY Downstate Medical Center, provides training in geriatric care to physicians, dentists, and mental health professionals in Brooklyn through the Geriatric Fellowship Program. Caring for the elderly is very different from treating younger patients. Some conditions common among the elderly, such as dementia, delirium, and falls, are rarely seen by physicians who treat only younger or middle-aged adults. Knowing how to distinguish between disease states and the normal effects of aging requires specialized knowledge and experience. The training program employs an interdisciplinary approach. Fellows are exposed to a variety of community settings and disciplines, such as psychiatry, dentistry, neurology, and end-of-life care. They receive instruction in information technology, administration, pedagogical methods, and
St. Francis College Starts New Year With New Logo, Web Portal
As students return to St. Francis College to begin the 2010-2011 school year, they’ve found some big changes with the unveiling of a new logo for the and a new website portal to give students one easy place to go to access all their online needs. The logo is a result of a comprehensive process that included comments and feedback from St. Francis alumni, faculty, current students and many others. Streamlining the online experience for students was another priority over the summer. By using mySFC, various parts of college life are all now in one place; from St. Francis email to online coursework, to course schedules and grades. There is also a social networking component to mySFC that allows students to create communities to help promote their clubs and activities and bring new students out to events. n
skills training Continued from Page 3
estimates that 22% of New York adults lack basic literacy skills. This means that nearly a quarter of the labor market statewide must be brought to a basic literacy level before further skill training becomes appropriate. Because of underfunding, waiting periods for adult basic education programs in New York City can reach one to two years -- a hold up we can’t afford at a time when workers want and need to “up” their skills. Adult workers must be a focal point of any effort to address the skills gap as two-thirds of the workforce of 2020 will be made up of adults who were already in the workforce in 2005 –long past the traditional K-12 pipeline. We must ask Congress to increase federal investment in adult basic education to ensure more work-
grants Continued from cover
application process. For more information on the pre-application and application timeline, please see the calendar below. Pre-applications received after this deadline will be held for consideration in the next round ending April 2011. Awards will be announced January 7, 2011. If you are eligible for Training Funds and receive an application, you are encouraged to complete and submit it for review. A panel of reviewers will rate your proposal based on an evaluation that looks at a statement of need, leveraged impact of the program, and the potential impact on the economic activ-
ers receive high quality adult education. The more this basic education can be tied to vocational training the closer a worker will be to being job ready and the sooner we’ll be able to see employers finding the skilled workers they need. Are these silver bullet answers to economic recovery? No. But they are attainable, actionable steps that are essential parts of a solution and that we can call on our policymakers to take. Steps that will get us closer to getting employers the workforce that they need to thrive, workers the skills they need to get back in the labor market and an economy back on track. The author is Senior Regional Field Director of the National Skills Coalition, and can be reached at jessiehl@nationalskillscoalition.org. n
ity of New York City as a whole. Training Funds applicants may propose to train their own employees internally or may use an external training provider. To search for training providers, applicants can use the Training Provider Directory on the city’s Small Business Services website. Please note that the Training Provider Directory is just one source among many and that training providers do not have to be in the Training Provider Directory to receive Training Funds. Companies that are awarded NYC Business Solutions Training will be provided information and forms to help them prepare, implement and complete their training project. n
Visit www.ibrooklyn.com
Sister City agreement inked between Brooklyn and Beijing District On August 4, Brooklyn Borough President Marty Markowitz was joined by a delegation from the Chaoyang District of Beijing to sign a sister city agreement between the District and Brooklyn. Also on hand were Peter Meyer, TD Bank and Brooklyn Chamber of Commerce Chairman,;Rick Russo, vice president, Member Services, Brooklyn Chamber of Commerce; Peng Keyu, Consul General of China in New York; Michael Burke, Downtown Brooklyn Partnership; Joe Chan, Downtown Brooklyn Partnership; David Chen, Chinese-American Planning Council; Leo Ehrline, New Jersey Nets; Errol Grimes, Errol Grimes Dance Company; Purnima Kapur, New York City Department of City Planning; Andrew Kimball, Brooklyn Navy Yard and Paul Mak, Brooklyn Chinese-American Association. Photo by Kathryn Kirk
cordially invites you to its:
"OOVBM .FNCFSTIJQ .FFUJOH BOE #VTJOFTT 5SBEF 4IPX AT&T is proud to support the Brooklyn Chamber of Commerce.
featuring
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Dyker Beach Country Club 86th Street and 7th Avenue Dyker Heights, 11228 Good business requires good partnerships like the one between AT&T and the Brooklyn Chamber of Commerce. After all, by working together, we can make almost anything possible.
Wednesday, October 13, 2010 3:00 - 6:00 p.m. Visit www.ibrooklyn.com to register and for more information. For sponsorship opportunities, please call Rick Russo at 718-875-1000 ext. 148.
©2010 AT&T Intellectual Property. Service provided by AT&T Mobility. All rights reserved. AT&T, the AT&T logo, and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners. Brooklyn’s Progress • VISIT ibrooklyn.com 9
ATM_NYC_M0_2468_O.indd
Client
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executive moves PUBLIC/NON-PROFIT New York City: David Bragdon was Director of the Mayor’s Office of Long-Term Planning & Sustainability. Mr. Bragdon joins City Hall after serving as the President of the Portland, Oregon Metro Council, an elected body that oversees regional planning, protection of natural areas, handling of solid waste and recycling, and management of regional facilities for over one and a half million people in the Portland metro region. Prior to his service on the Metro Council, Mr. Bragdon worked in the transportation industry as a maritime chartering agent at Lasco Shipping Co., managing Oregon lumber shipments to Japan, and representing Evergreen International Airlines. For five years, he also served as marine marketing manager at the Port of Portland. Mr. Bragdon is a graduate of Harvard University. He was born in New York City and moved to Portland at the age of twelve. The Mayor also appointed Elizabeth Weinstein as the Director of the Mayor’s Office of Operations. Ms. Weinstein previously served as Mayor’s Office Director of Agency Services and Director of Customer Service. Working for Deputy Mayor Stephen Goldsmith, Ms. Weinstein is also leading an effort to find and implement efficiencies across city
government in areas including information technology and fleet management. Prior to working in the Mayor’s Office, Ms. Weinstein worked as Chief of Staff at the New York City Department of Transportation. Ms. Weinstein has her Masters degree in Social Policy and Planning from the London School of Economics and is a graduate of the University of Pennsylvania. She lives in Brooklyn.
HEALTHCARE New York Methodist Hospital: John Deysine, M.D. has been appointed chief of the Hospital’s breast service. Dr. Deysine specializes in treating breast cancer through breast conservation techniques. NYM’s services include mammography and other, more advanced screening tests like breast MRI, conservative surgery by specialists in breast surgery, a regional radiation oncology center and a spacious and attractive ambulatory infusion center where chemotherapy can be administered. In addition, the Hospital has a physical therapy program for women recovering from breast surgery, an American Cancer Society patient cancer navigator on staff and cancer support groups. Dr. Deysine completed a fellowship in surgical oncology at the University of Medicine and Dentistry of New Jersey.
REAL ESTATE TerraCRG: TerraCRG announced today that Shay Sellars has joined the company as a Senior Associate, specializing in the BedfordStuyvesant Townhouse Market. Ms. Sellars brings significant experience in both the forprofit and non-profit sectors to TerraCRG. As a Senior Associate focusing on the townhouse market, Ms. Sellers is responsible for leading the business development, sales and marketing of 3-4 family townhouses in the Bedford-Stuyvesant section of Brooklyn. Ms. Sellars holds a BFA in Film and Television for New York University, a MS in Development Management and Urban Planning from The New School in New York City and is an MBA candidate at Howard University with concentrations in Finance and Corporate Strategy. Before TerraCRG, Ms. Sellars was the Business Development Manager at a boutique new media company called Double 7 Media located in New York City. There she led growth strategy plans, which included new product development, scalability analysis, and new media trends forecasting.
FINANCE Ridgewood Bank: Norman L. McNamee was promoted to executive vice president.
Formerly, he served as senior vice president for the bank. Mr. McNamee first joined Ridgewood Savings Bank during 1976. In addition, the bank’s Board of Trustees approved the following junior officer promotions: Rachel Opperman, assistant Norman L. vice president and trainMcNamee. ing officer; Domenico Ciaccio, branch banking officer; Gewa Gurcharan, branch banking officer; and Sebrina Jacobs-Tulloch, branch banking officer. Also, Douglas Coleman has accepted a new position in the Risk Management division and his title has been changed to information security analyst. Christopher Smith has accepted the position of assistant vice president of CRA and corporate giving. Mr. Smith has been with Ridgewood Savings Bank for 15 years and was previously assistant vice president and branch manager. Edward O’Brien will be retiring this September after 12 years of dedicated service. n
Download the Brooklyn Chamber Member logo. www.ibrooklyn.com.
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• october/november 2010
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www.SilverStarsGourmetCatering.com Brooklyn’s Progress • VISIT ibrooklyn.com 11
real estate roundup D<D9<I E<NJ
Fall Heats Up in Brooklyn Real Estate Support System
Members count on each other’s New deals are set to transform borough’s landscape expertise to get the best results
The Brooklyn Chamber of Commerce’s Real Estate and Development Committee In December, 2007 the Brooklyn College hosted a RED Nite in cooperation with new Conference Center opened the doors to a member Prudential Douglas Elliman on state-of-the-art facility to deliver conference September 16, at The Silhouette - the first and event-hosting services to students, faclow-rise LEED Platinum residential project ulty, and other on-campus groups, as well in the city, developed by Giancola Contractas Borough residents and the community ating. The evening large. included a silent The Conference auction of photoCenter is staffed graphs to benefit The power with students of The Gulf RestoBrooklyn College of two: ration Network that provide frontand saw over 235 Chamber line staff support attendees. to the many visitors Members Another RED that utilize the new Nite, sponsored by aptsandlofts.com, will working facilities. In additake place on November 4th at The Greention, the full-time together point Lofts, 231 Norman Avenue, a commerstaff is tasked with cial loft condominium. Additional details creating a brand and registration are available at www.ibrookname in the local lyn.com. community, and generating new business Kalmon Dolgin arranged the sale of a opportunities for the Conference Center for 114,000 square foot development parcel in various events such as seminars, lectures and Greenpoint for $10 million. They signed receptions. Van’s Apparel to a 15,000 square foot office lease in Greenpoint, as well as a 7,500 square Meeting the Challenge foot automobile showroom to Ford Motor While the students that work in the ConCo., on 86th Street in Bay Ridge. ference Center require top-notch customer CPEX signed Internet retailer Brooklyn service skills in order to provide exceptionStone Boutique to a bricks and mortar space al service to the Center’s customers, many at 366 Myrtle Avenue. CPEX also reported lacked the requisite background and training the closing of a commercial condo for $1.6 to deliver outstanding levels of service. The
single-story, industrial site sold for $800,000. Marcus and Millichap participated in the sales staff felt they could also benefit from guidtransaction of two storage buildings, which ance on marketing and sales best practices to sold for $10.25 million and will be used as a generate new business. new storage facility. Last August, Ethan Chazin, president of Creative Real Estate Group announced the Chazin Group, was retained by the Conthe lease of 3,200 square feet to Toll Brothference Center to conduct a program to their ers, Inc. at 215 Water Street, for use as a sales staff on how to leverage marketing and sales office adjacent to the site of its new 10-story best practices, and shared timely strategies for condo development in Dumbo. prospecting by leveraging direct marketing, Ingram and Hebron closed a lease at 382 advertising, online strategies, email marketAtlantic Avenue with eco-friendly fashion ing, list rental services, and other tactics. retailer Kaight, which is expanding from its Founded in 2004, The Chazin Group delivcurrent Lower East Side location. ers career transition consulting services to job TerraCRG was retained to market the sale seekers from all backgrounds and experience of joint venture of a mixed-use development levels, from people entering the job market parcel overlooking Prospect Park at 31 LinThe presentation for Brooklyn College Conference Center staff helped for the very first time, to seasoned profescoln Road and 510 Flatbush Avenue. The sionals looking to transition into a new field. identify customer service and marketing opportunities. At right, Ethan package consists of two tax lots with access In addition, last October Mr. Chazin led a Chazin. from both Flatbush Avenue & Lincoln Rd. program delivered to approximately 30 stuThe site currently has approved plans for 86 dents ofRED Brooklyn College whocondominiums work in theweresadors to the college. explained how ex- residential “On behalf Enjoying Nite at The Silhouette (from left) Rodrigo MoraHe of Clear Plath Brokerage, units as well as retail space, comConference Center, focusing on customer ceptional customer care is a key driver that of the BrookCarl Hum, president & CEO of the Brooklyn Chamber of Commerce, Lori Raphael, director of Real Estate & munity facility and a large parking garage. service bestatpractices. With bothO’Brien programs organizations on, DeRogatis to differentiate them- lynThe College Student and Conference Centers, Development the Chamber, Michael of M.C. O’Brien, Inc. andrely Vincent of Axel Protecproperty is located in the ProspectMr. Chazin was able to apply his twenty-plus selves in competitive business environment. Lefferts we thank you for facilitating a top-notch tion Systems. Gardens section of Brooklyn, just one years of experience in the private sector in a He emphasized to the students the key skills training program with our students,” said block from Prospect Park and a short walking number of sales and marketing roles, having that are required for success in the business Ryan Buck, director of the Brooklyn Colmillion at 79 Bridge Street and announced its building for $1, 647,000. distance from the Brooklyn Botanical Garden served most of the Fortune 1000 as clients from research excellentwas customer service, & lege “Many expressed their exclusive contract as leasing agent for 13,000 world The derive company’s also featured theStudent ProspectCenter. Park Zoo. and possessing extensive experience manag- such as: leadership, work ethic, punctuality, gratitude in hosting such training. For most square feet of retail space in the Toren con- in a recent Crain’s New York Business article, “The development site market has seen a ing client relationships and event /conference teamwork, critical thinking skills, and mana- students they have never experienced a ‘prodominium. “Good for tenants, bad for landlords,” tremendous boost in activity across the enplanning programs. experience. He repeatedly emphasized fessional development’ program like this. Members CPEX and Kalmon Dolgin co- gerial Marcus and Millichap announced the sale tire borough” said Ofer Cohen, Founder andI During the customer service program Mr. that these are the transferrable skills that stu- am sure to see results of this training immebrokered a sales transaction at 1760 Eastern of an industrial property in East Flatbush at President of TerraCRG who specializes in the Chazin emphasized to the students the criti- dents must rely on throughout their careers. you.” on page 24 Continued Parkway of a 14,000 square foot freestanding 1266 Ralph Avenue. The 10,000 square foot, diately. Well done and thank cal role that they served as goodwill ambasConinued on page 14 The results spoke for themselves.
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• october/november 2010
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Brooklynâ&#x20AC;&#x2122;s Progress â&#x20AC;˘ VISIT ibrooklyn.com 13
economic report
Recovery Slow, but Steady Risk of double-dip not in the cards BY TD BANK The following was culled from report by TD Economics. The full report is available online at www.td.com/economics/us.jsp under “Regular Publications.” The storm has ebbed, but the U.S. economic forecast remains overcast, according to a report released today by TD Economics. “We don’t expect to see any miracles occurring over the next several months…but the evidence appears to be for the gradual unwind of imbalances and a continued slow pick-up in economic activity – and not another descent into recession,” write Deputy Chief Economist Beata Caranci and Senior Economist James Marple in TD Economics’ latest U.S. Quarterly Economic Forecast report. Noting that bad economic news tends to make headlines, the authors highlight the positive economic developments of recent months and present a case for guarded optimism with respect to the economy’s nascent recovery. Private domestic demand – the key ingredient to a sustained expansion – has seen a strong burst of activity of late, fueled by a 17.6 percent annualized increase in business investment. This would not have been possible without some thawing of credit markets. Signs that credit conditions are easing, especially for small businesses, are encouraging, as they suggest that monetary stimulus is getting through to the real economy. “While there is a case for optimism, what
we really strive for is realism, and it is true that the bears of this world have not had major difficulty finding reasons to be negative,” the authors write. Growth in domestic demand has slowed in the current quarter, and will likely continue to slow as business investment comes off its initial growth spurt and home sales decline in the aftermath of the expired homebuyer’s tax credit. Just as important, job growth, while consistently positive in 2010, has also been sluggish. In a recession and recovery characterized by private-sector deleveraging, a slow improvement in personal income growth will act as a natural constraint on private demand growth. The recovery will continue to present challenges for policymakers, who face an electorate weary of record deficits and big bailouts. While economic growth will continue to be positive, it is not likely to grow fast enough to bring down the unemployment rate in the near term. On the fiscal front, any new stimulus measures must be balanced against the need to bring down budget deficits in the future. For the Federal Reserve, the main option for further stimulus is an even greater expansion of its balance sheet, which could complicate the removal of stimulus once economic conditions normalize. Indeed, neither the politicians nor the monetary authorities are in an enviable position. In all likelihood, economic growth will
continue to improve and stimulus will be gradually withdrawn. However, with so little margin of error between positive and negative growth, policymakers will stand ready to step in with greater stimulus should it be warranted.
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14 Brooklyn’s Progress
• october/november 2010
Brooklyn’s Progress • VISIT ibrooklyn.com 15
networking
A Slice of Networking Business After Hours event heads to Bay Ridge pizza emporium On September 16, Uno Chicago Grill hosted the latest Business After Hours networking event, bring Brooklyn Chamber of Commerce Members to their Bay Ridge location to sample some of the their renowned deep-dish pizza, cocktails and good times.
The company, whose outposts can be found worldwide, has eight locations in New York City. For more information about hosting a Business After Hours event, contact Rick Russo at 718-875-1000. n Kraig Serevino of Flushing Bank and Peter Petino of Active Transport.
Steve Nunez of Crown Mega Events and Herb Alwais of Brooklyn Waterfront Artists Coalition.
Henry Tisor of Cruises Inc. and George Fehling of Senior Umbrella Network of Brooklyn.
16 Brooklynâ&#x20AC;&#x2122;s Progress
Chamber Members were welcomed to the Bay Ridge Uno Chicago Grill.
â&#x20AC;˘ october/november 2010
Photos by Ilan Stern
Joe Stile, Brooklyn Chamber historian, and Lee Swigonski of Citibank, N.A.
networking
Building Up Small Business 3/50 Project shows how supporting local biz benefits entire communities BY JILL D’AMICO On August 18, the Brooklyn Chamber of Commerce partnered with the Park Slope 5th Avenue BID, Shop Brooklyn, and the Park Slope Chamber of Commerce to host an informative workshop on building your small business and your community at the same time. The 3/50 Project’s mission is to build stronger communities while supporting the brick and mortar small businesses that support thriving local economies. The positive impact that spending $50 a month in three locally owned independent businesses would generate benefits residents, the community and the local businesses. Cinda Baxter, founder of the 3/50 Project, spoke at the event, which was held at St. Francis College in Brooklyn Heights. “It’s called saving the economy three stores at a time,” she said. The event was a chance for local businesses to learn about the 3/50 Project, and how to use it and other shop local campaigns to strengthen their own businesses. For more information about the campaign, or to learn how to support your own local economies, go to www.the350project.net, www.ishopbrooklyn.com, pschamber.tumblr.com or www.parkslopefifthavenuebid. At the 3/50 Project event at St. Francis College: (from left) Carl Hum, president & CEO of the Brooklyn Chamber of Commerce, Irene LoRe, of Aunt Suzie’s restaurant, Cinda Baxter, founder of the 3/50 Project, Denise Arbesu of Citibank, and Brooklyn Chamber Chairman Peter Meyer of TD Bank. com. n
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Brooklyn’s Progress • VISIT ibrooklyn.com 17
chamber news
Welcome to the Chamber Orientation a valuable tool for getting the most out of your Membership On September 23, the Brooklyn Chamber of Commerce held its bi-monthly Member Orientation to help Members understand how to maximize the use of their membership. The event was hosted by the Brooklyn Business Library. In addition, the orientation featured an ibrooklyn.com workshop, where Members received hands-on training to accessing helpful online tools. For more information about the Member Orientation and to register for the upcoming orientation, which will be held on November 9, contact Melissa Chapman at 718-875-1000 ext. 126 or e-mail her at mchapman@brooklynchamber. com. n
Longtime Chamber Member Neil Levin of Webline Designs spoke to new Members about how to maximize the use of their membership through networking.
18 Brooklynâ&#x20AC;&#x2122;s Progress
â&#x20AC;˘ october/november 2010
Log on to www.ibrooklyn.com
New Members were able to take advantage of a workshop that introduced them to the online tools available on ibrooklyn.com.
networking
Brooklyn Chamber of Commerce thanks you for renewing your membership
American Media Concepts, Inc. Apex Technical School Boy Scouts of America - Brooklyn Council Broadway Lumber Supplies Corporation Brooklyn Botanic Garden Brooklyn Children’s Museum Brooklyn College Student Center Brooklyn Ice Cream Factory - River Café
A silent art auction of photographs benefitted the Gulf Restoration Network.
Brooklyn Museum Brooklyn Sports Club
Platinum Networking
C.D.E. Air Conditioning Company, Inc. Coburn Architecture
RED Nite hits LEED condos in Greenwood Heights On September 16, the Brooklyn Chamber of Commerce’s Real Estate and Development Committee and Prudential Douglas Elliman hosted RED Nite at the Silhouette, a LEED-Platinum certified condo residence in Greenwood Heights. Offering four unique sustainably designed residence, this Bullding Brooklyn Awards® winner in the low-rise residential category, was recognized for its combination of design excellence in the ultimate green living environment.
Attendees gathered for food, drinks and networking in this unique setting. A silent art auction of photographs themed, “The World Through our Eyes,” was held, with proceeds going to benefit the Gulf Restoration Network. The next RED Nite, sponsored by aptsandlofts.com, will take place on November 4 at The Greenpoint Lofts, a commercial loft condominium. Additional details and registration are available at www.ibrooklyn. com. n
Commodore Manufacturing Corporation Crain’s New York Business Family Care Certified Services IT Computer Support of New York JimCo Associates/Professional Group Plans of Brooklyn Jordan Parnass Digital Architecture Jos. H. Lowenstein & Sons, Inc. Joyva Corp. Junior’s Restaurant Refreshments were served, making the most of the Silhouette’s state of the art kitchens.
Key Material Handling Equipment Company, Inc. MoCADA NADAP New Millennium Computers New York Aviators Professional Ice Hockey New York Community Hospital New York Transit Museum NIA Community Services Network North Shore Bottling Company/ Brooklyn Bottling Osborne Association, The
Maud Andrew of the Brooklyn Business Library and Vince Lisi of Two Dogs Design.
PENCIL Pete’s Downtown Prospect Park Alliance Prospect Park Zoo Seedco Financial Sholom & Zuckerbrot Realty Corporation The Door The European American Business Organization, Inc. Trezza Management UncommonGoods Wiss & Company, LLP Y.E.S. Surrey Office Services
Real estate and development professionals were able to mix and mingle.
The event drew over 200 attendees to Greenwood Heights. Brooklyn’s Progress • VISIT ibrooklyn.com 19
Brooklyn Chamber of Commerce welcomes new Members Accounting/Tax Services Dean T. Carson II, CPA
Exterminators/Pest Control Liberty Pest Control
Edward F. Esposito
Financial Services Arnold Standard Cos.
Mr. Dean T. Carson II, CPA (212) 879-0279 www.dcarsoncpa.com Mr. Edward Esposito (917) 796-6845 www.espocpa.com
Advertising/Marketing Rewire Marketing Ms. Alex Sepulveda (917) 740-2009 www.rewiremarketing.com
Arts/Culture Stiegelbauer Associates
Mr. Christian Blake (718) 837-9030 www.libertypestnyc.com
Edward Jones Investments
Insurance City Building Owners Insurance Program
Mr. Peter Kettle (718) 522-6254 www.edwardjones.com
Financial Turning Point.com
Business Coaching/ Development Cirrus Business Services, Inc.
Food Products (Manufacturers) Gourmet Nut
(646) 862-1710 www.leadasba.com
Construction Supplies/ Services Broadway Lumber Supplies Corporation Mr. Julio Salinas (718) 919-1021 www.broadwaylumber.com
Employment/Training Glenmont Job Corps Ms. Danica Iglopas (518) 337-3221 www.jobcorps.gov
Mr. Morris Elbaz (877) 830-9030 www.gourmetnut.com
Freight/Delivery Services Transglad, Inc. Mr. Robert Kogut (718) 975-2255 www.transglad.com
Furnishing/Accessories (Manufacturers) Brooklyn Modern Mr. Gerald La Starza (917) 509-5852 www.brooklynmodern.com
From the SOURCE
Ms. Penny Emmet (718) 532-1671 www.fromthesourceny.com
snap up these apps Continued from Page 3
Hospitality Supplies/ Services Regency Services Carts, Inc. Ms. Connie Pezulich (718) 855-8304 www.regencynylv.com
Mr. Daniel Toby (347) 464-0770 www.financialturningpoint.com
Leadas Business Advisors Mr. Shaun Smith
Mr. Ben Pillai (718) 513-7382 www.raymourflanigan.com
Mr. Bob Arnold (516) 678-3300 www.arnoldstandard.com
Mr. Michael Stiegelbauer (718) 624-0835 www.stiegelbauerassoc.com
Ms. E. Cynthia Charles (646) 594-0400
Raymour & Flanigan
Mr. Stu Cohen (877) 576-5200 www.citybuildingowners.com
Janitorial/Maintenance Services Services R us Mr. James Lewis (347) 276-6566 www.servicesrus.net
Mailing Services Select Mail Mr. Zac Meyer (718) 624-5568
Mortgages Bridgeview Mortgage Corp.
Mr. Arturo Torres (516) 328-6300 www.bridgeviewmortgagecorp.com
Publishing/Publications Daily News Ms. JoAnn DiNapoli (212) 210-2051 www.nydailynews.com
Real Estate Development/ Management Prudential Douglas Elliman Ms. Nicole Galluccio (718) 935-6132 www.elliman.com
Restaurants/Caterers The Center for Kosher Culinary Arts (CKCA) Dr. Elka Pinson (718) 758-1339 www.kosherculinaryarts.com
Wicked Spoon Yogurt, LLC Mr. Alex Rozhitsky (347) 987-4810 www.wickedspoonyogurt.com
Security EPIC Security Corp. Mr. Mark J. Lerner (800) 548-3434 www.epicsecurity.com
Telecommunications Mobile Meteor Mr. Denis Hurley (347) 967-8229 www.mobilemeteor.com
Universal Mortgage, Inc.
Mr. Edward Ades (718) 210-1144 www.universalmortgageInc.com
Pet Supplies/Services robbie dawg, inc. Ms. Lisa Fortunato (718) 855-1552 www.robbiedawg.com
Need business financing assistance? Call 718-875-3400.
variables. Being able to visualize long-term can help your business make good decisions now.
ceipt and archive it. Users can then create an expense report for more accurate financials and better tax recordkeeping.
hone. Utilize your connections, update your status, and quickly share contact information with Bluetooth technology.
iTerminal – www.appninjas.com One of the most helpful apps for a business, the iPhone iTerminal app allows you to accept credit card payments. The easyto-use interface allows for instant payment processing.
Intuit GoPayment – www.gopayment. com Available to most smartphone users, this app also allows users to accept payments from major credit cards. iPhone users can even purchase a card readers to swipe credit cards.
Communication Google Voice - www.google.com/mobile/voice As cell phones become main business phones for many busy CEO’s, this app allows most phones to place calls, listen to and transcribe voicemails and send free text messages.
your invoice. TSheets - www.tsheets.com This app lets iPhone and Andriod users track time spent on work projects, assign tasks and use the phone’s built-in GPS to map travel, making billing clients easier and accurate. iXpenseIt - www.ixpenseit.com This iPhone app works for as well for executives as it does for personal finance. It keeps business and personal records, allowing users to record the date of any transaction, the vendor, type of payment and other individual notes. Users can also set up recurring expenses for repeat transactions, and create custom reports that can be downloaded in CVS or HTML. BillTracker – www.snaptapapps.com This iPhone app, dedicated to assisting you manage bills, alerts you about upcoming bills and lets you track paid bills. It also saves websites and account numbers, so you don’t have to. Loan Calc - www.garafa.com/loancalc As most businesses will take out a loan at some point, and with this iPhone app, users can easily calculate loan components and 20 Brooklyn’s Progress
XE Currency - www.xe.com/mobile Available for BlackBerry, Andriod and iPhone, this app allows users to get real-time updates and conversions for international currency and markets. ProOnGo Expense with Receipt Reader - www.proongo.com/a/index.php This versatile app for most smartphones allows users to organize business expenses, as well as create charts and graphs to see expenses. Users can even take a photo of your receipt from your camera and the information is automatically imported into your expense sheet. Data can also be exported as an Excel spreadsheet or uploaded to Quickbooks. Shoeboxed - www.shoeboxed.com/receipt-capture-iphone-app Another app that takes advantage of the camera function on an iPhone, this app lets users snap a photo of a business expense re-
• october/november 2010
MiniBooks for FreshBooks – www.freshbooks.com/minibooks This iPhone app brings the functionality of the popular FreshBooks program to your handheld. Track billable hours and invoice clients. Networking WorldCard Mobile – www.worldcard. penpowerinc.com This business card storage app works with iPhones, Windows Mobile and Symbian. Store contacts in your phone, and be able to bring it up easily. Scanning technology read the card’s text and inputs it into the correct fields on your phone’s address book. LinkedIn - www.linkedin.com/mobile The popular business social networking website’s functionality is brought to the small screen (for iPhone, BlackBerry and Palm) with an app for BlackBerry and iP-
RingCentral Mobile - www.ringcentral. com This service reroutes your company’s 1-800 incoming calls to your cell phone with a professional answering service and phone features like customizable hours and call forwarding. MailChimp – www.mailchimp.com/mobile/iphone This iPhone app puts the power of Mail Chimp, a popular and well-liked e-mail marketing service, into app form. Add or delete subscribers, view open rates, and view e-mail campaign statistics. Skype – www.skype.com/mobile Available for smartphones on Verizon plans, this app allows users to make international calls and instant messages, free for Skype-to-Skype calls. n
industrial & manufacturing
Growing the Family Business Local contractor finds incentives for expansion BY DARRYL HOLLON From its inception as general contractors to its status today as a thriving firm handling small- to medium-sized private and government contracts, Virginia Construction & Management Inc. has been an example of how to navigate expansion while benefitting from local and state incentives. Miriam Booso and her son-in-law Neiv Ziarno are the principals in the family owned business, which was founded in Bay Ridge Brooklyn in 1987. During this time their staff grew from five to over 20 employees. In recent years the company has expanded into industrial manufacturing as a steel fabricator and taken on larger contracts, including Coler Memorial Hospital on Roosevelt Island and Elmhurst Hospital in Queens. “In 2007 we won the bid for the entire contract for a five-story residential building in the East Flatbush section of Brooklyn,” said Ms. Booso. “The contract included steel fabrication, which was something we didn’t do as GCs but we knew from the work we were getting that a building boon was happening in the borough so we decided to purchase equipment and do the steel fabrication ourselves.” From that experience the firm decided to expand their operation and become the steel fabricators for all future contract bids won. They then began to look for properties to purchase and erect a steel fabrication plant
Miriam Booso and her son-in-law Neiv Ziarno of Virginia Construction & Management, Inc. Photo by Darryl Hollon
and located one in the Flatlands-Fairfield Industrial Business Zone/East New York Empire Zone. Ms. Booso’s resourcefulness led her to contact the Brooklyn Chamber of Commerce’s Industrial and Manufacturing Services. “We asked about the property we had in mind and if it was a good value in comparison with similar properties in the other
Brooklyn industrial areas,” she said. “Our own checking concurred so we purchased the 40,000 square foot property and began erecting a steel fabrication plant from scratch.” Early meetings with between Virginia Construction and the Chamber resulted in applications for a plethora of incentive programs even before construction of the new plant began. This included the Industrial and Commercial Incentive Program, the Business Incentive Rate, the Energy Cost Savings Program, and Empire Zone certification, which includes tax incentives and more. Virginia Construction immediately applied for the Industrial Business Relocation Tax Credit, a one-time $1,000 tax credit for each of their employees relocated within the IBZ. With this expansion, other growth occurred. Upon completion of the plant, staff grew to 70 full-time employees, and won new bids for Prospect Park Picnic House in Brooklyn and Tuscan Gardens in Staten Island. A new unit, Virginia Lighting Fixtures, Inc., led by husband Gershon Booso, “makes us a one-stop shop enabling us to tackle all facets of the construction industry,” said Ms. Booso. “We are a diverse outfit from pouring structural concrete to the some of the finest finish work we’ve done in SoHo, we get the task done efficiently and professionally.” “We take pride in the state-of the-art metal
fabricating facility we erected that includes the CNC (computer numerical controlled) machinery, the Peddinghaus Structural Beamline Drill, a plasma machine cutter, Nelson Stud Welding machine, and more that’s also rented out to other metal fabricators who want to use the best machinery on
“Letting prospective clients know that all facets of our GC/metal fabrication operation and facility are state-of-the-art are critical components to our business.” – Mr. Neiv Zarno their projects,” said Mr. Zarno, who runs the construction part of the business. “Letting prospective clients know that all facets of our GC/metal fabrication operation and facility are state-of-the-art are critical components to our business.” The company is handling the industry slow-down as best they can, by securing larger private and government contracts. In the meantime they are focused on the future and continue their hard work. n
Brooklyn’s Premier Dining and Entertainment Guide
lLM s MUSIC s ARTS s DINING !LL THIS CAN BE FOUND EVERY WEEK IN THESE lNE NEWSPAPERS
For advertising information, call 718.260.4552 Brooklyn’s Progress • VISIT ibrooklyn.com 21
SAVE BIG WITH OUR MEMBER-TO-MEMBER DISCOUNTS! ADVERTISING/MARKETING Green Room Promotions, LLC Lisa Wisely (646) 502-8065 10% off any merchandise order Proof Creative, LLC Michael Seaman (718) 360-9243 Free estimate and 10% off services Ptex Group Sara Weiss (718) 407-1700 10% off for 1st time clients ARCHITECTS/DESIGNERS/ ENGINEERS Jordan Parnass Digital Architecture Jordan Parnass (718) 852-2650 Ext. 3130 10% off all services including design, feasibility studies and project management ARTS/CULTURE Brooklyn Art & Bohemian Trail Savona Bailey-McClain (212) 690-0867 20% off any bus wrap ad, including sides, rear and full wraps: www.buswraps.com/whaf/whaf.html BUSINESS COACHING/ DEVELOPMENT Small Business Management Consulting Alan Siege (718) 768-1672 20% off all consulting and business planning services CAR RENTALS All Car Rent A Car Gil Cygler (718) 209-1404 10% all daily and weekly rates (excludes taxes and optional coverage) COMPUTER SUPPLIES/SERVICES New Millennium Computers Michael Wilkins (800) 419-8841 Ext. 2 $20 off of our one-on-one computer training classes The Mac Support Store Jeff Graber (718) 312-8341 Free diagnostic service on any Apple Mac computer or iPod DRY CLEANERS Bridgestone Cleaners Ken Kinzer (718) 222-9958 15% off all dry cleaning services Bridge Cleaners Richard Aviles (718) 625-1438 10% off all dry cleaning services (excludes tailoring)
EDUCATION/TRAINING Brooklyn College Alan Gilbert (718) 951-5102 10% off courses offered thru Brooklyn College for professional advancement & continuing education St. Joseph’s College John Keenan (718) 399-2745 10% off continuing education courses at Brooklyn or Long Island campuses EXTERMINATORS/PEST CONTROL Alternative Pest Control, Inc. Ernie Schicci (718) 444-1784 10% off your total invoice Colony Pest Management Joseph Sheehan (718) 856-1400 10% off all exterminating services FINANCIAL SERVICES World Financial Group Fradel Barber (718) 834-9000 Free review & analysis of finances FLORISTS Barbara’s Flower Shop Fred R. Powell (718) 773-6644 10% off floral arrangements of $50 or more
(917) 755-3915 15% off wall covering and paint application Offer valid through December 31, 2010 HOTELS/ACCOMODATIONS Escape Guesthouse, LLC Elizabeth Kennick (718) 243-1171 10% off your stay of 4 nights or more The Stratford Manor Zaleena Ishmael (718) 499-2230 20% off our regular nightly rates HUMAN RESOURCES Compain Anderson Azar, Ltd. Louis J. Peters (212) 701-7997 ext. 211 20% off online defensive driving program - reduce points and save 10% on auto insurance premium Log on to www.ampsafetydriving.com and use offer code “AMPSDP” Human Resources Insights V. W. John Luard (718) 284-3060 One free employee assessment session TriNet Anthony Laporte (347) 284-8809 10% off service fees
Floral Heights, Inc. Charlotte D’Costa (718) 625-2066 10% off any purchase $50 or more; 15% off any purchase $100 or more
INFORMATION TECHNOLOGY CinqTech, Inc. Anderson Victor (347) 587-4520 10% off all projects (equipment costs not included)
FURNISHINGS/ACCESSORIES (RETAIL) Arenson Office Furniture Anthony Battaglia (212) 991-4070 25% off First Time Rental (3 months max)
INSURANCE Clear Path Brokerage Victor Colon (718) 499-0700 Ext. 102 Free introductory consultation about protection against risks & reducing annual premiums/costs
HEALTH/WELLNESS/BEAUTY Body By Brooklyn Mira Goldin (718) 923-9400 50% off daily spa pass rates
JANITORIAL/MAINTENANCE SERVICES Commercial Business Services, LLC Edward Policastri (646) 296-6124 5% off all cleaning services
Chelsea & Me Skin Corp. Marcia Meikle (917) 474-1530 25% off 1 hour massages and facials from website listing
Ideal Cleaning Services, LLC Apolonia Edwards (646) 209-9330 10% off residential & commercial cleaning services
Green Spa New York Maria Ingardia (718) 921-6100 10% off all spa services and 15% off on packages not already discounted
Services R us James Lewis (347) 276-6566 20% off 1st bill
HOME IMPROVEMENT DecoRada Wall Covering Alan Rada
LEGAL SERVICES Franklin, Gringer & Cohen, P.C. Martin Gringer
(516) 228-3131 10% off labor & employment law consulting fees MEDICAL/DENTAL PRACTICES Brooklyn Heights Family Practice Charles Berk (718) 624-6185 Doconomical program for adult care: 20% off $50/month plan or $350/year; each visit only $25 (covers doctor fee only) OFFICE SUPPLIES/EQUIPMENT Carr Business Systems Dan Schwartz (631) 501-6810 5% off purchase or lease of printers, copiers or multi-function products Urban Office Products, Inc. Ron Gibel (718) 858-8100 35% off our catalog prices at www.u banofficeproducts.com PUBLISHING/PUBLICATIONS CNG Ralph D’Onofrio (718) 260-2555 10% off advertising for Business Basics level Members; 15% off Champion level and up RESTAURANTS/CATERERS Silver Star Gourmet Catering Pat Basile (718) 934-8520 ext. 204 15% off 1st catering order or gift basket purchase SECURITY 21st Century Security, Inc. Anthony Poveromo (718) 891-7550 10% off all security services ASM Security, Inc. Simon Ruderman (347) 920-0554 10% off & 3 months of free monitoring Ambush Alarm and Electronics, Inc. Vlad Tkatsenko (718) 934-3443 10% off all security & life safety services SPORTS ESTABLISHMENTS New York Aviators Professional Ice Hockey Candace Whitehead (718) 758-7580 Save 20% off game ticket prices Offer valid through March 2011 UNIFORM SERVICES W.H. Christian & Sons, Inc. Bill Christian (718) 389-7000 10% off sale of all uniforms
www.ibrooklyn.com. Where Brooklyn Business clicks. 22 Brooklyn’s Progress
• october/november 2010
real estate & development
Affordable Housing to Rise in Brooklyn Groundbreaking for 458-unit site in Wallabout On September 22, a ceremony was held for the groundbreaking of Navy Green, an affordable housing project that has been seven years in the making. Hosted by Dunn Development Corp., L+M Development Partners, Inc. and the Pratt Area Community Council, the ceremony marked the history behind the site – as a former Naval prison known as the “Brig,” – with the collaborative efforts between public and private entities that will help meet the demand for affordable housing in Brooklyn and supportive housing that brings critical services to the community. The redevelopment of the former Brig site—nearly the full square block bounded
A rendering of Navy Green.
by Flushing, Vanderbilt, Park and Clermont Avenues—offers an exciting opportunity to create a dynamic new urban environment. The programming of the site builds off of neighborhood assets—a thriving mixed income population—while responding to the community’s need for affordable housing,
Brooklyn Borough President Marty Markowitz was joined by NYC Housing Preservation and Development Commissioner Rafael E. Cestero, NYC Housing Development Corporation President Marc Jahr, L+M Development Partners Inc., Dunn Development Corp. and Pratt Area Community Council to break ground on the Navy Green development in Brooklyn, NY. Photo by Ilan Stern
open space, retail services, and homeownership opportunities. The groundbreaking marks the start of construction on the first two phases of Navy Green—an 8-story, 101-unit affordable rental building on Clermont Avenue near Park Avenue and an 8-story, 98-unit supportive housing building on Vanderbilt Avenue near Park Avenue. The Supportive Housing building will provide housing and social services, such as access to medical care, recreation and vocational training, to chronically homeless single adults and low-income single adults through a partnership with Brooklyn Community Housing and Services, Inc. as part of the City and State’s New York/New York III initiative - an agreement signed by City and State officials in 2005 to create 9,000 units of supportive housing for the neediest New
Yorkers. When completed, the project will consist of approximately 458 residential units in 4 multifamily buildings and 23 townhomes. In addition, Navy Green features over 8,000 square feet of commercial and/or community facility space. Navy Green also has approximately 32,000 square feet of common green space running north to south in the center of the development including a play area located on the southern portion of the site. By combining supportive housing and affordable rental and homeownership units with market rate coops/condos and townhouses, the redevelopment will result in an unprecedented mixed-income community. Approximately 77 percent of the residential units will be affordable to families earning between 30 percent and 130 percent of the Area Median
Income (AMI), which is equivalent to a salary range of $23,760 to $102,960 for a household of four or $16,650 to $72,150 for single-person households. The total cost of the supportive housing development is $21,940,424. Funding sources include $12,222,000 of HPD HOME funds, $718,000 of City Capital, $200,000 of Reso A from the Brooklyn Borough President’s office, $132,190 from NYSERDA’s Multifamily Performance Program, and $8,668,234 of tax credit equity provided by Enterprise Community Investment. The total cost of Navy Green R3, the building currently under construction on Clermont Avenue, is $27 million. Funding sources include approximately $1.9 million of HPD HOME funds, $2.1 million of City Capital, $200,000 of Reso A from the Brooklyn Borough President’s office, tax exempt bond financing from HDC ($13.7 million during construction and $2.5 million during permanent period) backed by letter of credit provided by JPMorgan Chase Bank, $6.5 million in HDC subsidy, and $13.4 million in equity provided by JPMorgan Capital Corporation generated through federal low income housing tax credits awarded by HPD and State low income housing tax credits awarded by DHCR. The development team for Navy Green is L+M Development Partners Inc. and Dunn Development Corp., who are co-developers. In addition, Pratt Area Community Council is the sole developer of the 98-unit Supportive Housing building, as well as the community consultant on the overall Navy Green development. Project investors include Enterprise Community Partners and JP Morgan Chase. n
economic report
Midterm Elections and Tax Proposals Busy season as businesses wait to see potential impact BY BILL MARCO It is hard to avoid the political attack ads in the media as of late. Eager political candidates are ramping up their electoral campaigns ahead of the midterm elections in November. Meanwhile on Capitol Hill, the Democrats are worrying about losing their majority in the House and Senate and President Obama is preparing to reveal new tax initiatives to Congress. The candidates have their work cut out for them. It’s no surprise that many Americans are growing weary of the economic rollercoaster of late; nervous that the dangling carrot of a full-scale economic recovery may be further out than expected. The nation remains in the very early stages of recovery from a severe recession and a detrimental crisis on Wall Street. Millions of Americans who became unemployed are only now seeing the start of job growth. Home prices, which fell sustainably in 2007 and 2009, have
begun to stabilize in most markets. However, a larger economic recovery has yet to happen. Politicians vying for a win in the upcoming elections have high expectations awaiting them. President Obama’s new tax proposals will certainly be an agenda for the home stretch of the elections. The President’s New Tax Initiatives President Obama has proposed extending the Bush-era tax cuts, set to expire in 2010, to the middle class, which comprises 98% of households earning less than $250,000 for couples and $200,000 for individuals.1 According to the non-partisan Tax Foundation in Washington, D.C., the Bush-era tax cuts have saved the median U.S. family of four about $2,200 per year. 2 Instead of targeting the top 2.0% of Americans earning over $250,000 a year, as some politicians would suggest, President Obama
With lawmakers on break until after the midterm elections, Americans will have to wait for new economic legislation.
insists that federal income tax rates in 2011 go back to their pre-2010 levels for the wealthy. The New York Times reports the President would “oppose any compromise that would extend the Bush-era tax cuts for the wealthy
beyond this year.”3 Not to be labeled a “second stimulus plan,” which has a negative connotation in some political arenas, the President’s financial Continued on Page 25 Brooklyn’s Progress • VISIT ibrooklyn.com 23
small business how-to
Business Succession Planning for Success Chamber seminar explains how to plan for your business’ success after you leave it The Brooklyn Chamber of Commerce hosted a seminar on Business Succession Planning for the 21st Century for industrial and manufacturing businesses recently. The event was organized by Darryl Hollon, the Chamber’s director of industrial and manufacturing services for the Flatlands-Fairfield Industrial Business Zone (IBZ), in partnership with NYC Business Solutions – Brooklyn Center and ClearPath Brokerage. The seminar was created to help second- and third-generation industrial businesses understand the options available to them and the steps they need to take to prepare for their business’ continued success as they plan to pass it on to the next generation. “Ideally succession planning begins when a company is born,” explained Rodrigo Mora, president of ClearPath Brokerage. “With the help of a good attorney, there are many strategies that can be used when forming a company that will allow revenue to be maximized. However succession planning can be done at any stage of a company’s life, allowing you to maximize the value of your company for years to come.” Financial and legal experts who led individual presentations at the event detailed the legal and financial issues that need to be addressed in any business succession plan. “The strategy a company may employ depends upon the particular circumstances of the business owner and can vary from a simple, straightforward approach to the very complex. However, most business owners avoid addressing the “matters of the heart” – the emotional issues – that are critical in the process,” said Frank Percoco, also with ClearPath said. “Family meetings and identifying a planning team are necessary for the ultimate development, implementation and success of a plan.” “The most important part of the succession process is guiding a business owner to create a vision statement. This document will help the next generation or the successor of the firm understand the core values of the business and the factors that drove success. This vital information helps to preserve key values and concepts which, in turn, ensures the continued success of the company,” added Mr. Mora. However, as with anything else, Mr. Mora noted, once a plan is created, it is important to periodically review it to ensure it keeps up with the changing needs of your business over time. Finance is a key component to business succession planning. Elizaveta Efuni, account manager for financial services for NYC Business Solutions – Brooklyn Center, provided an overview of NYC Business Solutions’ services, including business financing such as improving your credit score, financing options, loan packaging and selecting a lending institution. Through August 2010 Ms. Efuni and her colleague at BSC, Manuel Dominguez, have assisted small businesses and entrepreneurs secure 77 loans totaling over $1.5 million providing Brooklyn’s small business economy the kind of solid support critical to the City’s overall gradual economic recovery. For information about the Chamber’s industrial and man-
brooklyn real estate Continued from Page 12
Brooklyn market. “Significant decrease in the prices of land, coupled with reduced construction costs and the continued strong rental market are enabling developers and equity funds to take a fresh look at the market with the intention of building now and coming to market with rental product in 20132014, a time we all hope will present better economy and almost now new construction unit inventory.” They were also recently hired to market a portfolio of four development sites in Brooklyn. The sites are located in the Clinton Hill and Prospect Heights sections of Brooklyn and allow for the development 24 Brooklyn’s Progress
• october/november 2010
Frank Percoco of ClearPath Brokerage.
The seminar was held at the Lindenwood Diner in East New York.
ufacturing services offered through the Mayor’s Office of Industrial and Manufacturing Services, contact Darryl Hollon at 718-875-1000 ext. 105. For information about NYC Business Solutions, Brooklyn Center, offered through the NYC Department of Small Business Services, contact Ms. Efuni at 347-296-8024. n
over 90,000 buildable square feet of townhouse, multi-family and mixed-use buildings. 268-270 St. Marks Avenue is located in the much sought after Prospect Heights, just walking distance from Brooklyn’s most desirable attractions including Prospect Park, The Botanical Gardens and the Brooklyn Museum. It has over 14,000 buildable square feet and would be perfect for a small condo building or the construction of three townhouses. The other sites located on Madison Street and on Putnam Avenue in Clinton Hill are perfect sites for the construction of a townhouse and an apartment complex. Located just blocks from Pratt Institute, as well as dozens of new boutiques, specialty stores, cafes and restaurants, the rental market remains strong in this area. n
Get business financing assistance. 718-875-3400.
tax proposals Continued from Page 23
team argues that his strategy would knock hundreds of billions of dollars off the cost of extending the cuts, and that money could go toward reducing the nation’s debt.4 Tax Breaks for U.S. Businesses The core driver of growth in the U.S. economy remains small to midsize businesses. The President’s proposed tax initiatives would offer two main benefits for U.S. businesses: They would extend a popular tax credit for research and development expenses and allow businesses to write off the full value of new equipment purchased through 2011.
The President’s proposed tax initiatives would offer two main benefits for U.S. businesses: They would extend a popular tax credit for research and development expenses and allow businesses to write off the full value of new equipment purchased through 2011. Under the proposal, businesses would be able to write off 100% of their investment costs through next year.The President is also proposing to devote $50 billion to infrastructure spending, including rebuilding airports, 150,000 miles of highways and 4,000 miles of railways. Some transportation industry analysts predict this could lead to the development of a new infrastructure bank.5 Senate Republicans are preparing to roll
out a measure that would permanently extend the Bush-era income tax cuts that in their opinion benefit virtually every U.S. taxpayer. The measure would rein in the alternative minimum tax and limit the estate tax to estates worth more than $5 million for individuals or $10 million for couples.6 White House Press Secretary Robert Gibbs said in regards to the President’s tax proposals, “This is about long-term economic growth...This is about how do we get our economy fully back on track, how do we get the millions that want to work back to work, and how do we repair the economic damage that’s been going on not just over the past two years but over the past 10 years.”7 Douglas Holtz-Eakin, a former director of the Congressional Budget Office and an adviser to Republicans, predicted in an interview that “nothing is going to happen between now and the election,” except perhaps for passage of a separate administration package of tax cuts and lending for small businesses.8 The debate continues on Capitol Hill heading into the fall elections. The author is from First Allied Securities, Inc A Registered Broker / Dealer-Member: FINRA/SIPC These are the views of FN Interactive, Inc., not the named Representative nor the Broker/ Dealer, and should not be construed as investment advice or a recommendation. Neither the named Representative nor Broker/Dealer gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. The publisher is not engaged in rendering legal, accounting or other professional services. If expert assistance is needed in these areas, the reader is advised to engage the services of a competent professional. Please consult your Financial Advisor prior to making any investment decisions. n
Download the Brooklyn Chamber Member logo. www.ibrooklyn.com.
Brooklyn’s Progress • VISIT ibrooklyn.com 25
New Plans from Empire in 2010!
4 NEW PRISM EPO OPTIONS Âť In-network Preventive care covered at $0 co-pay Âť Office visit co-pays starting at $25 for primary care visits Âť Rates w/drug lower than $360 for an individual in Brooklyn 11 NEW VALUE EPO OPTIONS Âť In-network preventive care covered at $0 co-pay Âť In-network deductibles as low as $250 for an individual Âť Rates with drug lower than $300 for an individual in Brooklyn For more information call your broker or Empire at 1-866-422-2583 Services provided by Empire HealthChoice HMO, Inc. and/or Empire HealthChoice Assurance, Inc., licensees of the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield plans. The Blue Cross names and symbols are registered marks of the Blue Cross and Blue Shield Association.
26 Brooklynâ&#x20AC;&#x2122;s Progress
â&#x20AC;˘ woctober/november 2010
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