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QB022017

FEBRUARY 2017 • Volume 13 • Issue 2 1 THE QUEENS CHAMBER PARTNERS WITH QUEENS’ BANKS THE QCC’S ROSTER OF EVENTS KEEPS GROWING The Queens Chamber has had a very active 2017 so far and we plan to keep on in that spirit. We have packed the calendar full of events for February, and March is going to be even better! These events are all specifically designed for networking and to help BUILD YOUR BUSINESS. On Tuesday, February 7 we hosted our annual Breakfast with Borough President Melinda Katz. It was one of the most successful breakfasts we have had. With over 300 in attendance, the room was overflowing. A huge shout-out to LaGuardia Plaza Hotel and Investors Bank for making this event such a hit! I would also like to thank our local elected officials and community boards who joined us. As it is our mission to get the members of the business community engaged, please take note of the following events: Annual St. Patrick’s Luncheon The Chamber is hosting its Annual St. Patrick’s day Luncheon on Tuesday, March 14 at 11:30AM at Terrace on the Park. Our keynote speaker this year is Michael J. Dowling, President & CEO of Northwell Health, New York’s largest healthcare provider. Sponsorships and tickets are still available, but be sure to act fast. Please register at www.queenschamber.org. Committee Meetings Communications Committee will present a special seminar on Linkedin for entrepreneurs on February 23 at 8:30AM at the Queens Chamber. This will be a hands-on experience where we will work with you one-on-one and provide ways to bolster your Linkedin profile, market your business, and effectively engage with other members. Nonprofit Committee - Investors Bank will be hosting a workshop on financing for nonprofits on February 23 at 12:00PM. This event will be at Investors Bank, 3133 33rd Street (2nd Floor) in Astoria. No matter the size of your nonprofit, you do not want to miss this event. Transportation Committee will host a discussion on two proposed projects: the QueensRail and the QueensWay. Both are vying for the vacant land between Jamaica Greenway and Flushing Meadows. The meeting is set for February 28, 8:30AM at the Queens Chamber. Energy Committee will host members of New York Geothermal Energy Organization at the Queens Chamber of March 21 at 8:30AM. Please register for these meetings at the Queens Chamber website (www.queenschamber. org) under our News & Events section. New Member Welcoming If you are a New Member, please join us at the Chamber on Thursday, March 30 from 9:00AM-11:00AM. We will be going over all benefits of being a member, as well as getting you engaged in our committees and showing you how to take full advantage of marketing on our new website. Thank you for making the Chamber such a robust business resource. As always, our door is open and we would love to hear from you! THOMAS J. GRECH EXECUTIVE DIRECTOR OF THE QCC The Queens Chamber proudly represents nearly a dozen banking institutions within the borough. From large, multinational corporations such as TD Bank and Citibank to local community banks such as Astoria Bank, Investors Bank and New York Community Bank, each has a great impact on the local economy. What many don’t realize is the how much banks directly give back to the community by means of capital investment, outreach, sponsorship etc. Further, it is a common requirement for newly-opened bank branches to commit to specific charitable nonprofits. Financial services contribute to nearly 35% of the city’s overall income. This has a large impact on its infrastructure and real estate development. In November 2016, for example, 577 construction projects worth a collective $1.8 billion were started in the city. In Queens alone, 108 new construction projects (commercial, residential, or mixed) were begun. Not only will this development bring money into the borough, but the capital investment provides housing for more residents to call Queens their home. The fi nancial industry is important not only in creating jobs for the city and the borough, but also in helping consumers and businesses with their fi nancial needs. As of December 2016, more than 400,000 people work in the sector in NYC (see chart). Jobs in this industry are heavily concentrated geographically; ninety percent of the state’s jobs in this industry are in New York City, and most of the rest are located in the Long Island and Hudson Valley regions. Although this industry is highly cyclical—going through repeated boom and bust cycles—it has grown over time. Currently, employment appears to be expanding again after severe losses in 3 2008-2009 and the slow recovery thereafter. New York City employment (numbers in thousands) Dec. 2016 Change from Dec/ 2015 to Dec. 2016 Number Percent Total nonfarm 4,386.7 63.5 1.5 Mining, logging and construction 145.5 3.1 2.2 Manufacturing 78.4 0.7 -0.9 Trade, transportation, and utilities 655.7 8.0 1.2 Information 191.5 2.2 -1.1 Financial activities 460.2 -4.2 -0.9 Professional and business services 727.1 7.7 1.1 Education and health services 924.3 25.5 2.8 Leisure and health services 448.2 14.7 3.4 Other services 194.4 6.4 3.4 Goverment 561.4 5.2 0.9 The fi nancial services sector not only helps communities, but helps local consumers and businesses. Banks provide fi nancing options to new businesses which, had it not been for the fi nancing available, would never have been able to operate. These fi nancing and alternative fi nancing methods directly stimulate the local economy and provide lifeblood in times when situations seem bleak. The Queens Chamber will always continue to foster prosperous relationships with banking institutions and looks forward to building new relationships in the future. MAYRA DIRICO PRESIDENT OF THE QCC


QB022017
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