Things will get worse before they get better, but there are also a few bright lights in Brooklyn’s economic future, according to the Brooklyn Eagle, reporting from Tuesday’s Economic Outlook Breakfast sponsored by the Brooklyn Chamber of Commerce and Sovereign Bank.
The city’s downturn, which started later than the rest of the country’s, will be “sharper and will go further, ” said George Sweeting, deputy director of the NYC Independent Budget Office.
Among the bright lights, however, are the successes of manufacturing and industrial businesses at the Brooklyn Navy Yard, and the (re)linking of Brooklyn to Governors Island.
Uh Oh: According to the Observer, there's no money to develop Governor's Island, and it's ferry will be put up for auction on EBay. That's one bright light that's looking kind of dim.
Image: Google Earth