NYC Partnership economic impact analysis update, February 2002

NYC 9/11 Public Portal Document

area. While these steps would not restore access to pre-September 11th levels, the changes would shorten commutes workers find burdensome and signal commitment to downtown.

> Work with telecommunications providers and Con Edison to promote and speed up full restoration of service: Employees of Verizon and Con Edison performed heroically after the attack. Still, full telecommunication service has not been restored, and the power distribution system must be substantially rebuilt before next summer. The private sector should work with the utilities to ensure that reconstruction activities are coordinated and expedited, allowing businesses to plan, based on a realistic timetable for the resumption of full services. This collaboration with providers of energy and telecommunications must also ensure that in the intermediate term these services reach 2P‘ Century standards in terms of capacity, resilience and access to alternate systems that can be swiftly activated in the event of a natural or manmade disaster. Clearly, large companies and financial services firms will no longer rely solely on one system for voice conummications and data.

> Support the appointment of a transportation coordinator to orchestrate the efforts of the Metropolitan Transportation Authority, the Port Authority of New York and New Jersey and the two Departments of Transportation: All of these public sector entities will need to work together to speed the improvements required to make Lower Manhattan more competitive. This official should also work with stakeholders to identify key priorities for improvement and the synergies among mass transit services. If restoration and redevelopment of Lower Manhattan is delayed and highly disruptive, the district’s vacancy rate could reach 20% by 2006. This worst case scenario could result in the loss of 28,000 additional jobs and $5 billion in economic output the city can ill afford to lose.

(3) Ensure Improvement in Security

The private sector should take three actions to support efforts to improve security for businesses, employees and customers:

> Support national efforts to Improve security: The private sector should support those government actions and policies that truly improve security at local, state and national levels. Some of the steps government may take will involve some inconvenience and greater investment in technology. Public opinion research by Harris Interactive, however, clearly demonstrates that many Americans would now accept inconvenience in exchange for greater security.

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