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Rebuilding on Ground Zero is Pivotal to NYC Regional Economy

Martin O'Donnell pointed out an op/ed piece that appeared in today's New York Times by Richard Florida, a professor of economic development at Carnegie Mellon University. In the piece, Dr. Florida suggests that reconstruction on Ground Zero will play a key role in the economic evolution of the Metropolitan New York area.


{The Metropolitan New York} economy is fundamentally a creative economy. Growth derives from the endless creation of new firms, new industries and new ways of doing things.... {The} most sensible overall planning approach is to help Lower Manhattan become what it is becoming anyway a multifaceted creative hub rather than to indulge in economic overplanning or try to micromanage the future....


The fear that Lower Manhattan is losing its status as a center of the financial industry, for example, is not new and should not be allowed to drive planning. Well before Sept. 11, financial-sector activity was diffusing away from Wall Street, as when Goldman Sachs & Company decided to move many operations to a new building across the Hudson River. But the Street isn't dead. If it were, firms would be moving to Austin or Taipei, not New Jersey.


This is a very thought-provoking piece and points to different issues than the aesthetics that have caused the bickering over the alternative master plans for redevelopment.

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