Launches New Public-Private Partnership to Encourage Corporations to Invest in New York City Subway System
Also Launches Program Allowing Businesses to Adopt-A-Station
Governor Andrew M. Cuomo today announced the first-of-its-kind public-private Subway Partnership Program in New York, in which private corporations will invest in a fund to support the New York City subway system and work closely with the Metropolitan Transportation Authority on issues affecting commuters.
"The subway is the lifeblood of New York City, and everyone is coming together to be part of the solution to improve our transit system," Governor Cuomo said. "The first of its kind subway partnership program will invite private sector partners to play a role in transforming our stations, creating a better customer experience and bringing our system into the modern age."
Subway Partnership Program
Similar to businesses lending their support parks and historic sites through conservancies, companies participating in the Subway Partnership Program will help to further transform our stations and create a better commuter experience in New York's subway stations. A minimum commitment of $250,000 to the Subway Partnership Sponsors Council will be required to join the partnership.
To facilitate the program, an Executive Director reporting directly to the MTA Chairman and to the Subway Partnership Sponsors Council will be appointed. The Council, representing contributors to the Partnership, will develop private-sector solutions to problems facing the system, specifically related to the rider experience, including innovative staffing, technology, and communications practices. This will also include volunteer advisory opportunities for sponsor employees.
Governor Cuomo announced the first partners in the Partnership Program:
The Estée Lauder Companies
Partnership for New York City
Rudin Management Company, Inc.
Partnership for New York City President Kathryn Wylde said, "Governor Cuomo's initiative to create a public-private partnership to help improve the subway system is what has long been needed. Our city's private and nonprofit sectors have expertise and resources that will supplement what government is doing, bring innovative ideas and expand support for the tough steps that are needed to modernize the system and generate more revenues. This is the kind of forward-thinking leadership we need to continue the success of public-private partnerships throughout the city. New York City is transforming into a 21st century economic hub, and companies are coming from across the globe to set up shop here in the Empire State. Thanks to the previous remarkable success of public-private partnerships, major companies have already signed on to this initiative to ensure its success. By allowing this opportunity for companies and individuals to get even more involved, we can only expect a stronger, better New York for generations of workers."
Separate and distinct from joining the partnership program, the Governor's plan also allows businesses the opportunity to "Adopt-a-Station," with a contribution of up to $600,000. The 72 eligible stations, 18 each in the Bronx, Brooklyn, Manhattan and Queens, were selected based on several factors including the highest number of customer complaints regarding station condition, high volume of traffic (ridership and tourist destinations) and intersections with several lines at transfer points. Businesses that decide to adopt a station will fund enhanced maintenance efforts and additional security components and features at that specific station. For every station sponsored within the Borough of Manhattan, at least one station on the priority list outside of Manhattan must also be sponsored.
Contributions shall be tax deductible pursuant to IRS code and applicable state laws.
Empire State Development President, CEO, and Commissioner Howard Zemsky said, "These public-private partnerships will yield the innovation, ideas and support needed to improve New York's subway system. I commend the Governor for taking this bold step."