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Community revitalization - Essay Example

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Name Business Instructor Date How New York is Revitalizing Old Buildings and Investing in New ones to Help Improve the Economy. Architectural works form part of a country’s economic resource that directly or indirectly contribute to the development and growth of the economy…
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Community revitalization
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Download file to see previous pages 2008: 15-20) Additionally, renovation and conservation of old buildings have contributed to the growth of infrastructure in this town and a higher economic growth is expected in the near future. The revitalization in New York is supported by several federal agencies and the state. The state and federal agencies contributing to economic development organize service provision according to regions; examples include the federal Economic Development Administration, the Thruway Authority and Canal Corporation, Metropolitan Planning Organizations, and districts defined by the Department of Transportation, the Department of Environmental Conservation, the Division of Housing and Community Renewal, the Governor’s Office of Small Cities, the Department of Agriculture and Markets, and the Empire State Development Corporation and its Division of Marketing, Advertising and Tourism. This is the same case in Dubai who has really invested much in the architectural structures, Dubai's recovering property market is aiding to improvement of the economy once again after several years as a dead weight on growth (according to government report). The emirate's recovering property market - collective with a solid show in trade, manufacturing, transport and finance - lifted the emirate's GDP to more than 4 per cent in only one quarter of a year. Both property and construction contributed around 21% of Dubai's growth in the first quarter; this is second only to wholesale and retail trade, which accounted for 28 per cent of the expansion (this is according to a report from the Dubai Economic Council). New York has been going through widespread restructuring for nearly two decades as it transitions from dependency on traditional manufacturing to a more diversified economic base featuring strong service, tourism, and technology sectors. This has significantly attracted many tourists in the New York City and also attracted more investors. This has greatly been facilitated by the central government who is willing to support. This is the same case in Dubai which because of its architectural strength has become a destination to every tourist in the world. Substantial resources and various organizations dedicated to economic development have been set up at local, county, regional, and state-wide levels, using a blend of proven and innovative strategic techniques. Definitely, any inventiveness which duplicates existing efforts risks increasing the system’s inefficiency by adding to its complexity Harness existing tourism, industrial, agricultural, and community improvement assets in the service of economic growth that reinforces the region’s sense of place. The Commission’s approach to heritage development also seek to identify and support the interests of all concerned by leveraging the Corridor’s wealth of historic, cultural, natural, and recreational resources for economic purposes without degrading these assets(." Brookings Papers on Economic Activity 22 Mar. 2008: 15-20) Brennan (Para. 1) has noted an enormous investment in new buildings in the New York City with more than 700 construction projects coming up in this city. In the year 2013, most of these projects have started and ground breaking has taken place for most of them while others are already under construction. Back in 2012, the $20.5 billion worth ...Download file to see next pagesRead More
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