The Economic Impact of a New York City Public Bank, a groundbreaking new report from The New School’s Center for NYC Affairs, demonstrates how a public bank would turbocharge NYC’s economy, advance racial equity, and build wealth in low-income communities.

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In just its first five years, a NYC public bank would generate:

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• 70,600 local jobs by financing small and worker-owned businesses, affordable housing construction, climate infrastructure, and other economic development;

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• 17,855 affordable housing units by channeling capital to nonprofit housing developers, community land trusts, and other affordable housing providers;

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• $1.1 billion for climate solutions by financing solar and heat pump installations, weatherization, building electrification, and other urgently needed green infrastructure; and

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• $5.8 billion in new loans to Black and brown neighborhoods through partnership lending with community development credit unions and other responsible lenders serving historically redlined neighborhoods.

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Media Coverage of The Economic Impact of a New York City Public Bank:

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7/14/23

The Brian Lehrer Show: The Campaign for Public Banking in New York City

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7/10/23

Gothamist: What if NYC Had its Own Public Bank? There are Billions of Reasons to Consider it, Report Says

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