Mayor Bloomberg Comments on Steiner Studio Project

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The following excerpt is from Mayor Bloomberg’s remarks at a breakfast at the Brooklyn Navy Yard on December 8, 2010.

“In New York, we know the economic power of immigration – because we see it every day. Nearly 40 percent of city residents were born outside the U.S., and beyond the cultural, religious, and civic contributions they make to our city – they do something else: they work. They start businesses. They create jobs. They pay taxes. We need more of that, not less.

“Here at the Navy Yard, we took advantage of a federal program that provides a green card to anyone who is willing to invest more than $500,000. That helped the Navy Yard attract $60 million in new investment – and now Steiner Studios has used the same program to attract another $65 million to fund its expansion.

“We want even more foreign capital to come here – so that more jobs are created here. The federal government could do that very simply: by making it easier to qualify for the program. And it should go further, by creating a new visa that allows immigrant entrepreneurs who have U.S. investors to come to America to launch their businesses. Any elected official who says he or she is pro-business ought to be able to get behind this idea.”

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