Pratt Center Research
Growing a More Equitable EconomyBrooklyn Navy Yard
Report | February 13, 2013
In this report, Pratt Center presents a thorough investigation of the Brooklyn Navy Yard (BNY), a 300-acre city-owned industrial park and one of the fastest growing green manufacturing centers in the country. The paper demonstrates that New York City’s strategy of retaining ownership of the Navy Yard, placing it under mission-driven, nonprofit management and investing a total of $250 million in capital funds since 1996 has paid off: the Navy Yard generates $2 billion in economic output and sustains 10,000 jobs and $390 million in earnings each year. The report provides analysis that can help other cities strengthen their manufacturing sectors by replicating all or part of the Navy Yard model; Philadelphia, Chicago and Detroit are examined. Recommendations are offered for strategies that federal, state and city governments can implement to help private and nonprofit developers acquire and renovate older industrial buildings and make them attractive to today’s modern urban manufacturer.