The 2026 Affordability Agenda for Job Creators
Why We Must Act Now
New York City is facing a pivotal economic moment that demands immediate action. While the city’s affordability crisis is often viewed through the lens of rising rents for residents, it has now created a survival crisis for our local businesses. The data is stark: job growth in NYC has slowed dramatically, with the private sector adding only 5,100 jobs in the first seven months of 2025—a fraction of the 68,100 jobs added during the same period just one year prior.
Even more alarming, this slowdown is hitting our neighborhoods hardest. With unemployment ticking up to 4.9% and layoffs rising in key sectors like retail and hospitality, it is clear that small businesses are bearing the brunt of this cooling economy. They are facing a perfect storm of rising costs, tariff-driven supply challenges, and persistent bureaucratic hurdles. If we want vibrant, safe, and thriving neighborhoods in every corner of the five boroughs, we must ensure that our local job creators can afford to survive, grow, and hire.
Our Blueprint for 2026
The Five Borough Jobs Campaign, which is led by the Manhattan Chamber of Commerce and 30+ other organizations, has laid out a comprehensive blueprint for City and State leaders to reverse these trends, create good-paying jobs, and build vibrant communities.
1. Cut Red Tape to Get Government Out of the Way
We must remove the barriers that make it too costly and complicated to open or sustain a business.
Appoint a 'Mom & Pops' Czar: We enthusiastically support the Mayor-elect's commitment to appointing an official who reports directly to the Mayor, solely dedicated to reducing red tape and fines.
Implement a 90-Day Fine Moratorium: To set the new administration up for success, we are calling for a full cessation of all non-safety fines and fees for small businesses during the first 90 days of the Mamdani Administration. This provides the necessary breathing room to assess plans for decreasing fines by 50%.
Reform Permitting: We must streamline approval processes, cut permitting costs, and modernize licensing requirements to promote business openings and expansions.
Smart Fine Relief: While we advocate for capping and reducing fines, we also believe in doing it right. There should be an escalation path for willful, repeat bad actors so enforcement agencies retain the tools necessary to maintain order. We also support expanding transparency around enforcement data, building on Local Law (Int. 1132).
Reject Untenable Wage Mandates: We oppose one-size-fits-all proposals to nearly double the minimum wage over five years, which would have devastating impacts on neighborhood businesses already struggling with costs. Policymakers should instead focus on measures that help businesses grow so they can raise wages sustainably.
2. Make City Government Work for Small Businesses
Job creators need a city government that is a partner, not an obstacle.
Fully Restore Small Business Services (SBS): With an 18% vacancy rate, fewer than half of SBS's critical indicators are on track. It is a fiscal necessity to fully staff this agency to ensure businesses have access to capital and technical assistance. This also means increasing funding for community-based organizations (like Merchant Associations and Industrial Business Service Providers) that haven't seen contract increases in over a decade.
Appoint a Small Business Director for Safety: We call for a "Small Business Director" within the Department of Community Safety to coordinate quality-of-life measures, such as retail security, street cleanliness, and support for homeless New Yorkers, which are essential for vibrant business districts.
Pass a Local Economic Impact Study Bill: The City Council currently lacks a clear way to understand the economic impact of its legislation. We support a bill that requires an analysis of how proposed laws affect local jobs, operating costs, and living costs.
Champion Effective Tax Policy: We need stable tax policies to keep businesses here. This includes eliminating the Commercial Rent Tax, simplifying small business tax credits, supporting PILOT agreements to reduce operating pressure, and rejecting any new tax increases on job creators.
Maximize the 2026 World Cup: The City must coordinate marketing and community activations to ensure that small businesses in every borough share in the economic opportunities of this major global event.
3. Make NYC the Talent Capital of America
To support a thriving economy, we must ensure New York is livable for the workforce that powers it.
Boost Housing Production: We must increase housing supply to lower costs. We propose expanding the office-to-residential conversion incentive to 90% citywide (matching the current Manhattan rate) to encourage more housing creation in the outer boroughs.
Create a Sustainable Childcare System: High childcare costs force parents out of the workforce. We need a sustainable funding mechanism for childcare that supports working parents without breaking the backs of job creators.
Invest in Workforce Training: We must strengthen pathways between neighborhood employers and local job seekers by increasing investment in training and reducing friction, such as through the proposed "Workforce Navigator Corps".
Strengthen the Industrial Base: We must protect last-mile facilities, which are key economic engines supporting local logistics and jobs, ensuring regulations allow them to continue operating effectively.
Ensure Worker-Friendly Transit: We will collaborate with the MTA and DOT to ensure transit infrastructure supports workforce needs with safety, access, cleanliness, and timeliness as top priorities.
