Another great piece by Thomas Friedman on the need to promote new/small businesses
In order for our economy, and New York City’s commercial real estate market to fully rebound there needs to be an increase in jobs. The New York Times columnist Thomas Friedman explains the interesting statistic that over the past 35 years any job growth was created by businesses that have existed for five years or less. Long established companies do not add new jobs to the economy, therefore the government’s recovery efforts should be spent on promoting startup businesses. I recommend that the government provides even greater incentives for small businesses and startups to purchase their own office space.
