Saturday, December 19, 2009

NYC EDC's Pinsky: "increased competition for bids almost always means better rates for the public"

In the latest edition of City Hall News, Seth Pinsky, president of the New York City Economic Development Corporation (NYC EDC) pens a piece headlined During A Crisis, Construction Spending Can Buoy New York's Economy.

The key passage:
While, of course, the primary goal of our capital spending is to renew the city’s infrastructure and put people back to work, in recent months, we at the New York City Economic Development Corporation have become aware of a secondary benefit of our new-found market position. Specifically, we have begun to see a rise in the number of bids—and bidders—chasing the $2.5 billion in capital projects that we plan to manage over the next five years. Besides the more than 9,800 jobs these projects are expected to create, this is also great news for taxpayers, because increased competition for bids almost always means better rates for the public. Over the long run this will result in projects completed more quickly and more efficiently.
(Emphasis added)

Almost always apparently means, say, Willets Point but not Atlantic Yards or the key public component thereof, the Vanderbilt Yard.

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