Infrastructure failures threaten New York City economy: report

June 06, 2013 10:00AM

While New York City may be the world’s most competitive city, Gotham lacks one important feature of a global destination: reliable infrastructure. Or so says a new report from the New York Building Congress, Capital New York reported.

With hurricane season upon us and forecast to be “above average,” according to reports, the city is in need of some serious upgrades, the report said. New York needs an updated power grid, better building codes and “clear authority and responsibility for emergency response,” according to the report, Capital New York said, lest it be “viewed as an unfavorable location to conduct business.”

“Sandy’s destructive effects on New York City raise the same unpleasant question that many asked after 9/11: Is New York City’s future as the financial center of the world at risk?” the report said. “The weaknesses on display after the Storm — power and communications deficiencies, transportation vulnerability, and inefficient response procedures — do not reflect the strength of the city’s economy.” [Capital New York] –Guelda Voien