When Mayor Eric Adams took office, the city’s business community breathed a sigh of relief.
For eight years, business leaders have denounced Mayor Bill de Blasio’s liberal ideology and policies. He rose to power on promises to end income inequality, reverse the economic policies of his predecessor — pro-business billionaire Michael R. Bloomberg — and thrived on criticizing the city’s business elite .
Mr. Adams, meanwhile, talked about the importance of wealthy taxpayers to New York’s coffers and how businesses provided good jobs for middle-class residents. He often cited the city’s good bond rating as one of his major accomplishments.
The connection between Mr. Bloomberg and Mr. Adams was on full display in the months after Mr. Adams won the Democratic primary.
Mr Bloomberg released a video supporting Mr Adams ahead of the general election. A day after the approval, at a conference of the former mayor’s billionaire colleagues, Mr. Adams declared that “New York will no longer be anti-business.”
“It was a reversal,” said Kathy Wylde, president of the Partnership for New York City, a business advocacy group. “He took Bloomberg as his mentor and adopted the most important policies for businesses and their employees.”
But since Mr. Adams was indicted on charges of bribery, conspiracy, fraud and solicitation of improper foreign campaign donations, much of the business and labor community has remained silent, worried. Mr. Adams appeared in a Lower Manhattan courtroom on Friday and pleaded not guilty to five charges. City officials did not immediately respond to a request for comment.
District Council 37, the city’s largest public employee union, of which Mr. Adams’ mother was once a member, endorsed him in 2021 and called him a “friend of labor.” But on Thursday, a spokeswoman declined to comment on the criminal charges.
The Real Estate Board of New York, the industry’s main lobbying body, did not respond to requests for comment. Nor did the service workers union, 32BJ SEIU, which has been a frequent presence at the mayor’s events.
The Hotel and Gaming Trades Council, the influential union that represents hotel and casino workers in New York and New Jersey, gave a measured response.
“It is too early to pass judgment or make any policy decisions other than to say that our union will continue to do what we always do, which is work with the mayor and city government on issues important to our members,” a spokesperson said in a statement. .
The mayor’s indictment leaves many in the business community without a clear candidate in the upcoming election and fuels fears that a progressive candidate will not meet their needs as Mr. Adams did. Four candidates have announced their candidacy for mayor and all are considered to the left of Mr. Adams.
“Mayor Adams is one of the few elected officials at his level in the entire country who fundamentally understands technology,” said Julie Samuels, president and CEO of Tech:NYC, a trade group that represents technology companies ranging from Google and Meta to startups.
The alternatives did not inspire confidence in its members. “Most of them don’t even know who a lot of these candidates are,” she said.
The mayor held 14 town halls in conjunction with the Partnership for New York City to meet with employees from various companies. At the height of the coronavirus pandemic, Mr Adams called for workers to return to the office, even though there was a trend towards hybrid work-from-home schedules.
And the relationship with Mr. Bloomberg continued when Mr. Adams entered City Hall. Dotted throughout Mr. Adams’s schedules for 2023 was “Call with Mike” — an apparent reference to Mr. Bloomberg, who spoke regularly with Mr. Adams. Stu Loeser, a spokesman for Mr. Bloomberg, declined to comment, but a person familiar with the thinking of some of Mr. Bloomberg’s advisers said they had “high hopes” for Mr. Adams.
Mr. Adams was not afraid to employ policies unpopular with progressives but that business leaders saw as essential to maintaining a business-friendly quality of life, such as eliminating homeless encampments and the flooding of subways with police in response to crime.
A Wall Street business leader who asked not to be named to preserve his connections said an email was circulating Thursday morning seeking to recruit a mayoral candidate from within the business community.
The mayoral candidates so far are: Brad Lander, the city comptroller; Zellnor Myrie, State Senator from Brooklyn; Jessica Ramos, state senator from Queens; and Scott M. Stringer, the former comptroller.
Former Gov. Andrew M. Cuomo is also considering running in a special election if Mr. Adams resigns. Jumaane Williams, the public advocate who made his name speaking out against discriminatory police practices, would become mayor if Mr. Adams resigns or is removed from office and would likely run in the special election to finish out his term.
Some City Hall critics don’t view Mr. Adams’ pro-business leanings as a good thing.
Olivia Leirer, co-director of New York Communities for Change, a progressive advocacy organization that focuses on issues such as global warming and affordable housing, said the mayor sided with the real estate lobby when he t was about enforcing a new climate law designed to reduce pollution from large buildings and its policies on homelessness and crime are harmful.
“The business community might be happy that Eric Adams is driving all the homeless people off our streets,” Ms. Leirer said. “But people who care about our communities know that housing and youth programs are what really supports our communities and reduces crime in the long term. »
Nicole Gelinas, a senior fellow at the Manhattan Institute, a conservative think tank, said business leaders have sometimes expressed disappointment with Mr. Adams, for example over his handling of the influx of more than 200,000 migrants in the city. But many in the business sector remain more concerned about possible alternatives to Mr. Adams. Under the Adams administration, New York City has regained all of the nearly 1 million private sector jobs lost during the pandemic.
“There are fears that we will have to start all over again, at a time when we are still very weakened by the Covid confinements,” said Ms. Gelinas.
The mayor’s indictment could also jeopardize some of his signature policies, including so-called changes to the city’s zoning code, which could allow the addition of more than 100,000 additional housing units citywide .
The planning commission approved a version of the proposal Wednesday, paving the way for the City Council to vote on the changes in the coming months. Some fear the upheaval at City Hall will make the project a harder sell.
“We cannot let what is happening at Gracie Mansion distract from such a critical issue,” said Annemarie Gray, executive director of Open New York, a nonprofit that supports new developments.
City officials say the proposal is on schedule with the initial timeline they established, and they expect the City Council to vote on the plan this fall.
Gary Barnett, chairman and founder of Extell Development, the real estate company that helped reshape the strip of luxury skyscrapers in Manhattan known as Billionaires’ Row, said he was reserving judgment.
“I wish he could finish the job,” Mr. Barnett said, lamenting what the indictment could mean for the remainder of Mr. Adams’ term as mayor. “People are charged all the time and then found innocent. »
Mr. Adams, surrounded by supporters at a defiant news conference outside Gracie Mansion on Thursday, seemed determined to finish his job, despite the serious criminal charges he faced.
When asked who would liaise with the city’s business community following his indictment, the mayor did not hesitate to answer.
“When you ask, ‘Who is the point person who is going to deal with the business community?’ » Who will take care of managing the city? The key person is Eric Adams,” the mayor said to the cheers of his gathered supporters. “I am the mayor of New York City.”
Dana Rubinstein reports contributed.
