New York Gov. Andrew Cuomo and New York City Mayor Bill de Blasio on Nov. 3 announced a $400,000 "Race for Space" grant program to incentivize new businesses to locate to vacant storefronts along key commercial corridors on the east shore of the city's Staten Island borough.
The project, which the Staten Island NY Rising Community Reconstruction Planning Committee developed and modeled after a New York City Economic Development Corp. program, seeks to fill storefronts damaged or left vacant by Hurricane Sandy floodwaters.
The Oct. 29, 2012, storm killed at least 23 people on Staten Island and the damage to its commercial districts led to dozens of vacant storefronts and the permanent loss of businesses. The new program will provide small grants to businesses that move into vacant commercial space in targeted areas affected by the storm.
"This program is a step toward bringing life back to now-deserted commercial spaces," Cuomo said in a statement.
In 2013, EDC launched "Staten Island Storefronts: Race for Space"- a competition encouraging businesses to open or expand in vacant storefronts in downtown Staten Island. It provided grants ranging from $25,000 to $75,000 to newly established or expanding businesses in the downtown area. The $425,000 grant pool has leveraged $5 million in private investment so far.
