The Brooklyn Navy Yard’s goal of facilitating 16,000 jobs by 2020 is well on its way, according to the Brooklyn Navy Yard Development Corporation (BNYDC).
The Yard has secured about 39 leases – either new or for additional space – in 2016, marking the first 2,000 jobs towards its goal of growing from 7,000 to 16,000. According to BNYDC, an important fact to note is that nearly 50 percent of the new leases are being signed by minority or women-owned businesses (MWBE).
“2016 at the Brooklyn Navy Yard was all about expansion,” said BNYDC President and CEO David Ehrenberg. “The leasing efforts of our team over the last year will play a key role in our growth as we double in square feet and employees in the next few years. The innovative manufacturing businesses and start-ups that have joined the Yard in 2016 will play an important part in our future.”
According to BNYDC, the Yard is currently undergoing “its largest expansion in 50 years” and an “additional 9,000 good-paying jobs are expected to be added to the Brooklyn Navy Yard’s employment base by 2020.”
The Yard’s five largest leases in 2016 were signed by Mast Brothers (64,755 square feet), Brooklyn Brewery (54,000 square feet), 1776 (30,000 square feet), Patina Studios (18,790 square feet) and Russ & Daughters (14,866 square feet).