NYC Business News

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NYC AI Jobs Institute Aims to Train 40,000 by 2032

As artificial intelligence changes the skills employers seek, New York is investing in ways for residents to enter technology careers without relying solely on traditional industry pathways. A new AI Jobs Institute in Long Island City will combine workforce training, employer connections and support for entrepreneurs, with a goal of reaching 40,000 New Yorkers by 2032. Operated by the nonprofit Pursuit, the initiative is backed by $10 million in public investment and partnerships spanning technology, finance, education and philanthropy. The Queens facility is expected to be fully occupied in mid-2027 and will also house a center focused on helping underrepresented entrepreneurs develop businesses. The initiative reflects growing efforts to connect technological change with economic opportunity.

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NYC Delivery Workers Gain $2 Billion in Added Pay

New York City's app-based delivery industry has undergone a major shift since the city began enforcing minimum pay requirements in December 2023. A new Department of Consumer and Worker Protection report estimates that delivery workers have received more than $2 billion in additional earnings, while average hourly compensation, including tips, climbed from $10.48 to $27.03. Restaurant delivery activity also expanded, suggesting that higher labor costs have coincided with continued consumer demand. However, the report identifies changes in how delivery platforms manage workers, including reduced flexibility and tighter control over access to assignments. The findings offer a broader look at how New York City's labor regulations are reshaping earnings, working conditions and business practices in the growing delivery economy.

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TWU Threatens Lawsuit Over NYC Horse Carriage Ban

New York City's debate over horse-drawn carriage rides could move from City Hall to federal court as the Transport Workers Union prepares to challenge proposed legislation that would end the industry. Ahead of an October 22 City Council vote, TWU notified city officials that it intends to seek an emergency court order if Intro. 943 is approved. The union argues that the proposal threatens carriage drivers' jobs, business owners' investments and the value of city-issued medallions without providing adequate financial protections. TWU also disputes restrictions on the future sale of carriage horses, raising constitutional concerns about property rights and due process. The proposed ban remains subject to legislative action, and the union's legal claims have not been adjudicated.

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Columbia, Max Planck Launch $13.3M Fusion Center

Columbia University and Germany's Max Planck Institute for Plasma Physics announced a five-year, $13.3 million research partnership focused on advancing fusion energy science. The Max Planck Columbia Center, scheduled to begin work in 2027, will study plasma behavior and combine research involving tokamak and stellarator fusion technologies. Co-directed by Columbia Engineering professor Carlos Paz-Soldan and Max Planck director Thomas Klinger, the virtual center will support international exchanges for students and researchers. Columbia scientists will gain access to major experimental facilities in Germany, while the partnership will also create opportunities for collaboration with private fusion energy companies. The initiative aims to advance scientific understanding and help develop the next generation of fusion researchers.

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T-Mobile to Offer NY Customers Up to $38M in Relief

New York Attorney General Letitia James announced a settlement with T-Mobile that could provide more than $38 million in consumer benefits after the wireless carrier raised prices on plans advertised with a promise that rates would never increase. An investigation found that approximately 252,957 New York customer plans were affected by increases of about $5 per phone line beginning in 2024. Under the agreement, eligible customers will have options that may include refunds, phone upgrades, credits or protections against further price increases through at least 2029. The benefits vary by customer eligibility and whether subscribers remain with T-Mobile. The company must also pay $98,000 to New York and clearly disclose limitations on future price guarantees.

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NYC, Lake Placid Explore 2042 Winter Olympics

Governor Kathy Hochul announced the full membership of a nearly 90-member committee exploring whether New York State could host the 2042 Olympic and Paralympic Winter Games. The Lake Placid–New York City Olympic & Paralympic Winter Games Exploratory Committee held its first full meeting in New York City, bringing together representatives from government, business, sports and community organizations. Members will evaluate the opportunities, challenges and long-term considerations of a potential Games involving Lake Placid and New York City. Hochul also announced $2.5 million in state funding for the Monument to a Miracle project, which will honor the 1980 U.S. Olympic men's ice hockey team and five-time Olympic gold medalist Eric Heiden. No formal bid or host selection was announced.

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CUNY Raises Record $312M in Donations, Up 26%

The City University of New York raised a record $312 million in philanthropic support during fiscal year 2026, a 26% increase from the previous year and the first time the university surpassed $300 million in annual fundraising. CUNY has raised nearly $1.1 billion over four years, with donations supporting scholarships, student assistance and career development across its colleges. The year's largest contribution was a $50 million gift from MacKenzie Scott to Lehman College. Brooklyn College raised $32.4 million, while Baruch College received $34.8 million. Community colleges collectively raised $36.7 million, up from $30.3 million the previous year. CUNY officials said the fundraising growth will expand resources that help students complete degrees and prepare for careers.

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Brooklyn Navy Yard-Based NYC Ferry Workers Join TWU

Technical supervisors at NYC Ferry, whose workforce is primarily based at the Brooklyn Navy Yard, voted unanimously to join the Transport Workers Union of America (TWU). The vote follows successful organizing efforts involving ferry captains, technicians and welders over the past three months. According to TWU, the union now represents hundreds of NYC Ferry employees who work for ferry operator Hornblower. The union is preparing to negotiate initial labor contracts covering the newly organized workers while continuing efforts to organize deckhands. NYC Ferry, which launched in 2017, operates six regular routes and one seasonal route across New York City.

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Bronx's Little Yemen Gains Cultural District Status

Governor Kathy Hochul signed legislation recognizing Little Yemen in the Bronx as an official cultural district, acknowledging the contributions of the borough's growing Yemeni-American community. The district will extend from White Plains Road to Bronxdale Avenue, with Van Nest Avenue marking its southern boundary. The designation recognizes a neighborhood known for Yemeni-owned restaurants, small businesses and cultural traditions, while potentially making local cultural organizations eligible for New York State grant assistance. State Senator Nathalia Fernandez and Assemblymember John Zaccaro Jr. sponsored the legislation, which community leaders say will help preserve Yemeni heritage, encourage tourism and support neighborhood businesses. Little Yemen joins other recognized cultural districts, including El Barrio in East Harlem and the Harlem Renaissance Cultural District.