By James Prendamano
You may have read the Staten Island Advance recently and noticed the story by reporter Tracey Porpora entitled, “Brooklyn businesses cross the bridge to open on Staten Island.”
The article discussed why many New York City businesses are choosing to leave the other four boroughs and put down roots in Staten Island.
Anyone who knows me, knows that I have spent much of the last two decades touting why business owners should venture across the harbor to establish a presence in Staten Island. From Dunkin Donuts to Dennis Basso, my office has led the charge to bring world renowned businesses to our borough.
Recently there has been an increase in small businesses choosing to leave the other boroughs and relocate on Staten Island. When Tracey asked me to explain the phenomenon I explained that in most cases it’s because the supporting residential markets in Brooklyn and other boroughs, are driving rent numbers through the roof. However, the increase in real estate value is not usually proportionate to the increase in their business revenue, so they seek new markets and opportunities. By far, Staten Island remains the most affordable option out there and we have great demographics to go with it. It’s no wonder that companies on the distribution side, retail side, and restaurants that have leases expiring are choosing to move to Staten Island.
Staten Island is also home to some of the largest tracts of industrial-zoned land in New York City. That makes us attractive to a host of businesses that need space to operate. We also have a wealth of talented and dedicated individuals who would be happy to work locally. That is an attractive commodity for owners in the business of making and distributing products.
Our local elected officials have been diligent in their commitment to bolster economic development in our borough, and small businesses throughout New York City are taking notice. It won’t be long before our Staten Island labor force, which has been travelling off island for work, can soon find employment right in our own backyard.