The Partnership for New York City is calling for more public-private partnerships to help drive economic recovery from the COVID pandemic. The report recognizes that the challenges are substantial (18 percent unemployment, 230,000 small businesses unlikely to reopen), and that government is facing LESS revenue to deal with them.
It is only by rallying together the scope and authority of the public sector with the talents, resources, and money of the private sector that economic recovery can come as quickly as possible. This report recognizes the idea that we can all do together far more than we can each do separately. Now we need to learn from all of the models springing up around the country how to actually make this idea work and make it sustainable into the future.
“Going forward, governments will need to spend less and depend more on leveraging private financing and expertise,” the report states. “Economic recovery requires a multi-sector approach, with leadership from business, labor, academia, civic and community sectors. Extra-governmental partnerships should be structured to design and implement solutions to immediate needs for job training, hiring, small business relief, affordable housing, renewable energy and digital infrastructure.”