August 18, 2025 • 16 mins
New York State has officially renewed two programs that offer businesses funding to relocate to The Bronx. Rob Walsh, President, Bronx Economic Development Corporation, talks about the potentially game changing policies of The Relocation and Commercial Expansion Program (RACE) and The Relocation and Employment Assistance Program (REAP).
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Episode Transcript
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Speaker 1 (00:01):
Welcome to get connected with Nina del Rio, a weekly
conversation about fitness, health and happenings in our community on
one oh six point seven Light FM.
Speaker 2 (00:12):
While funding cuts of all kinds dominate the news, for
the next few minutes, we're covering some good news for
business owners and big momentum in the BRONX. New York
State officially renewed two programs that are for businesses funding
to relocate to the Bronx, game changing policies we'll discuss
with Rob Walsh, President of the Bronx Economic Development Corporation. Rob,
(00:33):
thank you for returning to the show.
Speaker 3 (00:34):
Well, thank you very much for having me. I appreciate it.
Speaker 2 (00:37):
The Bronx Economic Development Corporation connects businesses to resources and
provides them with direct capital access with the goal of
strengthening and expanding current businesses. You can find out more
about them at BXDC dot org. So, Rob, these two
programs are the Relocation and Commercial Expansion Program RACE for short,
(00:57):
and the Relocation and Employment is Stance Program That acronym
is REAP. What do they do well?
Speaker 3 (01:04):
They provide tax incentives and that's the key thing. They
provide financial incentives and a way of learning businesses to
the Bronx and other parts of New York City, mostly
focused on our industrial areas where we sorrow over decades
losses of factories and industrial businesses that left the city.
(01:30):
And now what we're seeing is a rebirth in many
areas of new businesses that are coming in. And one
of the ways to do that is these the launch
of a new program called RACE, which offers incentives up
to ten thousand dollars per employee. So you think about that,
you have one hundred employees, ten thousand you know a pop,
(01:52):
that's a million bucks. That's a good enough incentive to
bring your business to an area that has the infrastructure
place and for REAP and a lot of people will
nervous about this is the renewal of the Relocation Employment
Assistance Program. In fact, a number of folks across the
(02:12):
city went up to Albany to lobby to make sure
that that program was in place. You know, the bottom
line on these things is, you know, if not New York,
if not the Bronx, you know, these businesses will be
lured to other parts of the region and other parts
of the country. And we need to do all we
can to have attractive incentives to keep them right here
(02:34):
in New York. So I applaud the governor and certainly
the city leadership for making this happen.
Speaker 2 (02:40):
So what types of businesses are eligible? Then? Are they
all brick and mortar?
Speaker 3 (02:45):
Yeah, it is, it's you know mostly I often think of,
you know, manufacturing and industrial businesses. I often think about
those businesses that are makers of things, but not necessarily
it could be you know, tech company. You know, here
in New York, we're seeing a lot more life science companies,
you know, coming in, but I would expect it to
(03:07):
be companies that have to be here. They can be
refrigeration companies, those that are providing support services for other sectors.
I think a laundry. I think of those businesses that
are providing support for a lot of anchor institutions, you know,
(03:28):
in New York.
Speaker 2 (03:29):
And what neighborhoods do they include? Are they specific areas
in the Bronx?
Speaker 3 (03:33):
They are, and it's it's mostly in the South Bronx,
the Port Morris Hunts point the industrial areas of the
Bronx that are eligible.
Speaker 2 (03:44):
So how has this program developed? I think a lot
of times incentives for businesses are tax abatements, which you know,
the public may not be such fans of, but businesses
love them. Why was this program the way to go?
Speaker 3 (03:56):
I think, you know what, that's a great question and
and it's a real policy question of you know, and
I often think about incentives. Incentives. The reason you have
an incentive is to shake the norm, if you will,
of getting a company to do something that they would
otherwise not do. That they may go to another state,
(04:19):
they may go to another region. Uh, if not for cost.
And I think you know a lot of businesses, you know,
are looking at their bottom line and if and if
it's more you know, and I think the Bronx has
you know, a lot of competitive edges our transportation access.
You know, you think about the Bronx. You could get
(04:39):
to New Jersey, Connecticut, uh, New York City, Westchester quickly,
you know, through a lot of networks of transportation. But unfortunately,
over the decades, you know, we had a number of
businesses that that did close down. We still have the
infrastructure here. It's getting businesses to do something that they
(05:00):
would not ordinarily do. And what is that tipping point?
You know, those in public policy and those in government believe,
you know, ten thousand dollars per person is attractive enough
to get some businesses, you know, to take a good
hard look at the Bronx and other industrial parts of
(05:22):
New York City.
Speaker 2 (05:23):
Our guest is Rob Walls. She's president of the Bronx
Economic Development Corporation. We're talking about new changes for business owners,
policies to make business in the Bronx more attractive. You
can find out more on their website at b xdc
dot org. You're listening to get connected on one of
six point seven light FM. I'mina del Rio. You started
to talk about it a little bit, Rob, but I
(05:44):
want to give you another chance. You know, in addition
to funding, as they say about business, it's location, location, location.
So why is the Bronx a good location to do business?
Speaker 3 (05:57):
You know, it's it's where we are geographically, you know,
and and in in right right in the thick. I
often say we're the only borough that's connected to mainland
United States, which is which is the case. But if
you start thinking about the transportation access to to move
(06:18):
to ship to get to other parts of the New
York metro area. Uh, you know, I think we're positioned well,
I think we're positioned well, because uh, one is there's
availability to grow and I and and people you know,
(06:38):
you look at this and say, you know, maybe that
was a weakness in the past, but now what you're
seeing is people investing in the Bronx because there is
an availability of space, uh to make some things happen.
And that's exactly what we're seeing in places like the
(06:58):
like Hunts Point, which was, you know, the largest food
market in the world. And we're also seeing and and
this is this is this is wonderful to see. Is
a lot more I'll call it smaller makers and artisans
who are coming to the Bronx uh to open up
shop and then and then to grow. And you know,
(07:20):
I'm noticing and I think our last conversation we talked
about you know some of that uh you know taking
place in the Modhaven areas, in the Port Morris areas
of of of folks because it is cheaper. They come
to the Bronx because they could get more space, and
they're taking over and and and re energizing business buildings
(07:42):
that have been empty for a long time.
Speaker 2 (07:44):
There's also some large developments underway in the borough. Let's
talk about some of those. Oh I can't wait, yeah,
the Bronx General Post Office recently sold. Why is that
significant and what do you know about the redevelopment.
Speaker 3 (07:56):
Well, it's one of my favorite buildings in the Bronx.
It's a beautiful post office. When you walk into the lobby,
there are these large canvases of art you know that
that date back to the w p A. It is
(08:17):
situated right at the heart of the Concourse at one
hundred and forty ninth Street. A beautiful building. You know,
if you think about the morning hand station and the
post office there, think about this as the Bronx version
of that. Large windows and I and I, but I
also think the fact that it's across the street from
(08:38):
Hostos Community College that has seven thousand students, across from
Lincoln Hospital, across from a lot of new housing, and
I mean a lot of new housing, tens of thousands
of units that are that are that are developing along
the con along the concourse. Again, transportation access is right
there at one hundred and forty ninth Street. There's a
(08:58):
there's a there's a X line that moves pretty well,
and and access to the to the Degan and and
other thoroughfares. But it's a beautiful landmark building and and
and uh uh you know right now they have a
small satellite office there for the post office and a
(09:19):
very creative restaurant on the top roof, but a lot
of empty space. And I and i'm I'm I'm bullish
about that coming online soon.
Speaker 2 (09:30):
The Kingsbridge Armory redevelopment that has so much potential. What
is the plan there?
Speaker 3 (09:36):
Well, the plan there, you know, the the the the
city and the state put up one hundred million dollars each,
you know for for the King's Bridge Armory and and
credit to the city and the state and mostly the
city's Economic Development Corporation for really engaging the community and
(09:57):
and and community leaders and elected official in a process.
And it's it's it's going to be transformed into a
community focused hub, a space for youth sports events, local businesses,
entrepreneurs and workforce training. They have selected a developers, Mad
(10:22):
Equities Enjoy Constructions. They've developed the designer. There's another phase
to that that also includes housing four hundred and fifty
units of affordable housing. But it's this is a you know,
a public private partnership that is going to take a
building that has been again empty for the longest time
(10:45):
in a key part of the Bronx, right adjacent to
Lehman College and Monroe College, and and and a lot
of other commerce. And my hope it's it's going to
happen sooner rather than later.
Speaker 2 (10:57):
This time for new Metro station should be completed within
two years, which is pretty soon. And then there is
also the recent announcement by Governor Hochel She's given a
twenty million dollar grant, yes, she did for Greater Morris Park.
So just tying those two together, what can you say
about how they'll sort of drive change.
Speaker 3 (11:18):
I think that's one of the most exciting projects in
the City of New York. Hands down, four new Metro
North stations along the Eastern Corridor. One, it makes it
easier to get back and forth to Manhattan. And if
it means getting back and forth to Manhattan easier, that
means you're going to see more workforce housing, you know,
(11:39):
if you could get the Grand Central, you know, in
less than twenty minutes from the East Bronx. If we
do this right, and I think we got this right
with the with the rezoning around a lot of those centers,
and if we get this right and in a lot
of cases, we haven't gotten it right. At Metro North State,
(12:00):
we haven't used the advantage. I often think of the
Fordham Station where I went to undergrad and graduate school.
There's a Metro North station there, but you know, if
you look at the surrounding area of that hub, it's
fragile and it has been fragile. It's getting better, but
it has been fragile over the year. How can we
(12:21):
plan this right? And I think the twenty million dollar
investment that the governor has made through the Downtown Revitalization
initiative is really challenging us to get it right. I
think a Metro Hutch Center right there, right, Metro Hutch Center,
which has Mercy University, which has a number of office towers,
(12:44):
that has manifor, a hospital, and retail and fitness centers
and open space and ball fields. This should be what
connects a lot of the dots there into a quite frankly,
a very attractive place. Boy, I'm gonna get in trouble
with my friends in Brooklyn, but I see it a
(13:05):
beta version of Metro tech. You know, given what is
taking place at the Metro Hutch Center, they have plans
for two new hotels they have plans for a new
Steam High school. Mercy University is growing like crazy, Mantafiora
is growing. This is this is prime time, this is
(13:26):
this is this is a really a new and exciting
chapter for the Bronx.
Speaker 2 (13:30):
Yeah. I was gonna say, we only have a couple
of minutes left, but it feels like this is there's
momentum now that is different than before.
Speaker 3 (13:38):
Look, I've been around for you know, decades, in government
for twenty years, and nonprofits for you know a number
I have never seen this type of momentum optimism about
new development, particularly in the Bronx, and the growth that
has taking place in the Bronx at Metro Hutch Center,
(14:00):
at our EDS and meds, our higher education, in our
medical institutions, and many of the entrepreneurs that are coming here,
and many of the people that are living here. You know,
you think about it. The South Bronx has had over
ten thousand units of housing that has been built. If
you go up and down the concourse, you're now seeing
(14:20):
a rebirth of some of these old, beautiful Art Deco buildings.
The Museum of Arts in the Bronx is going under
a forty million dollar renovation forty million dollars, So a
lot of great things happening in the borough.
Speaker 2 (14:36):
Just to wrap up, you also have a real estate
summit coming up in US.
Speaker 3 (14:39):
We do, we do. That's I appreciate you mentioned that,
and it happens to be on October twenty ninth. It's
a date that I remember because it's my daughter's birthday,
but it's also Hurricane Sandy. I'm not sure that there's
a parallel between the two. But we are going to
have a couple of panels. One panel is we're going
(15:00):
to have the Economic Development Corporation and their leadership, hopefully
Andrew Kimball, their president, could join us to talk about
many of these investments that I've mentioned. And another panel
that talks about how we best leverage what you pointed out,
that twenty million dollars and the Metro North stations that
(15:21):
are being built out. Let's get it right.
Speaker 2 (15:24):
And people can sign up and find out more on
the website that's right BXDC dot org. My guest has
been Rob Walsh, president of the Bronx Economic Development Corporation.
Thank you for being on Get Connected.
Speaker 3 (15:38):
Yeah, thank you very much, thanks for having me.
Speaker 1 (15:41):
This has been Get Connected with Nina del Rio on
one oh six point seven light Fm. The views and
opinions of our guests do not necessarily reflect the views
of the station. If you missed any part of our
show or want to share it, visit our website for
downloads and podcasts at one oh six to seven lightfm
dot com. Thanks for listening.
Welcome to get connected with Nina del Rio, a weekly
conversation about fitness, health and happenings in our community on
one oh six point seven Light FM.
Speaker 2 (00:12):
While funding cuts of all kinds dominate the news, for
the next few minutes, we're covering some good news for
business owners and big momentum in the BRONX. New York
State officially renewed two programs that are for businesses funding
to relocate to the Bronx, game changing policies we'll discuss
with Rob Walsh, President of the Bronx Economic Development Corporation. Rob,
(00:33):
thank you for returning to the show.
Speaker 3 (00:34):
Well, thank you very much for having me. I appreciate it.
Speaker 2 (00:37):
The Bronx Economic Development Corporation connects businesses to resources and
provides them with direct capital access with the goal of
strengthening and expanding current businesses. You can find out more
about them at BXDC dot org. So, Rob, these two
programs are the Relocation and Commercial Expansion Program RACE for short,
(00:57):
and the Relocation and Employment is Stance Program That acronym
is REAP. What do they do well?
Speaker 3 (01:04):
They provide tax incentives and that's the key thing. They
provide financial incentives and a way of learning businesses to
the Bronx and other parts of New York City, mostly
focused on our industrial areas where we sorrow over decades
losses of factories and industrial businesses that left the city.
(01:30):
And now what we're seeing is a rebirth in many
areas of new businesses that are coming in. And one
of the ways to do that is these the launch
of a new program called RACE, which offers incentives up
to ten thousand dollars per employee. So you think about that,
you have one hundred employees, ten thousand you know a pop,
(01:52):
that's a million bucks. That's a good enough incentive to
bring your business to an area that has the infrastructure
place and for REAP and a lot of people will
nervous about this is the renewal of the Relocation Employment
Assistance Program. In fact, a number of folks across the
(02:12):
city went up to Albany to lobby to make sure
that that program was in place. You know, the bottom
line on these things is, you know, if not New York,
if not the Bronx, you know, these businesses will be
lured to other parts of the region and other parts
of the country. And we need to do all we
can to have attractive incentives to keep them right here
(02:34):
in New York. So I applaud the governor and certainly
the city leadership for making this happen.
Speaker 2 (02:40):
So what types of businesses are eligible? Then? Are they
all brick and mortar?
Speaker 3 (02:45):
Yeah, it is, it's you know mostly I often think of,
you know, manufacturing and industrial businesses. I often think about
those businesses that are makers of things, but not necessarily
it could be you know, tech company. You know, here
in New York, we're seeing a lot more life science companies,
you know, coming in, but I would expect it to
(03:07):
be companies that have to be here. They can be
refrigeration companies, those that are providing support services for other sectors.
I think a laundry. I think of those businesses that
are providing support for a lot of anchor institutions, you know,
(03:28):
in New York.
Speaker 2 (03:29):
And what neighborhoods do they include? Are they specific areas
in the Bronx?
Speaker 3 (03:33):
They are, and it's it's mostly in the South Bronx,
the Port Morris Hunts point the industrial areas of the
Bronx that are eligible.
Speaker 2 (03:44):
So how has this program developed? I think a lot
of times incentives for businesses are tax abatements, which you know,
the public may not be such fans of, but businesses
love them. Why was this program the way to go?
Speaker 3 (03:56):
I think, you know what, that's a great question and
and it's a real policy question of you know, and
I often think about incentives. Incentives. The reason you have
an incentive is to shake the norm, if you will,
of getting a company to do something that they would
otherwise not do. That they may go to another state,
(04:19):
they may go to another region. Uh, if not for cost.
And I think you know a lot of businesses, you know,
are looking at their bottom line and if and if
it's more you know, and I think the Bronx has
you know, a lot of competitive edges our transportation access.
You know, you think about the Bronx. You could get
(04:39):
to New Jersey, Connecticut, uh, New York City, Westchester quickly,
you know, through a lot of networks of transportation. But unfortunately,
over the decades, you know, we had a number of
businesses that that did close down. We still have the
infrastructure here. It's getting businesses to do something that they
(05:00):
would not ordinarily do. And what is that tipping point?
You know, those in public policy and those in government believe,
you know, ten thousand dollars per person is attractive enough
to get some businesses, you know, to take a good
hard look at the Bronx and other industrial parts of
(05:22):
New York City.
Speaker 2 (05:23):
Our guest is Rob Walls. She's president of the Bronx
Economic Development Corporation. We're talking about new changes for business owners,
policies to make business in the Bronx more attractive. You
can find out more on their website at b xdc
dot org. You're listening to get connected on one of
six point seven light FM. I'mina del Rio. You started
to talk about it a little bit, Rob, but I
(05:44):
want to give you another chance. You know, in addition
to funding, as they say about business, it's location, location, location.
So why is the Bronx a good location to do business?
Speaker 3 (05:57):
You know, it's it's where we are geographically, you know,
and and in in right right in the thick. I
often say we're the only borough that's connected to mainland
United States, which is which is the case. But if
you start thinking about the transportation access to to move
(06:18):
to ship to get to other parts of the New
York metro area. Uh, you know, I think we're positioned well,
I think we're positioned well, because uh, one is there's
availability to grow and I and and people you know,
(06:38):
you look at this and say, you know, maybe that
was a weakness in the past, but now what you're
seeing is people investing in the Bronx because there is
an availability of space, uh to make some things happen.
And that's exactly what we're seeing in places like the
(06:58):
like Hunts Point, which was, you know, the largest food
market in the world. And we're also seeing and and
this is this is this is wonderful to see. Is
a lot more I'll call it smaller makers and artisans
who are coming to the Bronx uh to open up
shop and then and then to grow. And you know,
(07:20):
I'm noticing and I think our last conversation we talked
about you know some of that uh you know taking
place in the Modhaven areas, in the Port Morris areas
of of of folks because it is cheaper. They come
to the Bronx because they could get more space, and
they're taking over and and and re energizing business buildings
(07:42):
that have been empty for a long time.
Speaker 2 (07:44):
There's also some large developments underway in the borough. Let's
talk about some of those. Oh I can't wait, yeah,
the Bronx General Post Office recently sold. Why is that
significant and what do you know about the redevelopment.
Speaker 3 (07:56):
Well, it's one of my favorite buildings in the Bronx.
It's a beautiful post office. When you walk into the lobby,
there are these large canvases of art you know that
that date back to the w p A. It is
(08:17):
situated right at the heart of the Concourse at one
hundred and forty ninth Street. A beautiful building. You know,
if you think about the morning hand station and the
post office there, think about this as the Bronx version
of that. Large windows and I and I, but I
also think the fact that it's across the street from
(08:38):
Hostos Community College that has seven thousand students, across from
Lincoln Hospital, across from a lot of new housing, and
I mean a lot of new housing, tens of thousands
of units that are that are that are developing along
the con along the concourse. Again, transportation access is right
there at one hundred and forty ninth Street. There's a
(08:58):
there's a there's a X line that moves pretty well,
and and access to the to the Degan and and
other thoroughfares. But it's a beautiful landmark building and and
and uh uh you know right now they have a
small satellite office there for the post office and a
(09:19):
very creative restaurant on the top roof, but a lot
of empty space. And I and i'm I'm I'm bullish
about that coming online soon.
Speaker 2 (09:30):
The Kingsbridge Armory redevelopment that has so much potential. What
is the plan there?
Speaker 3 (09:36):
Well, the plan there, you know, the the the the
city and the state put up one hundred million dollars each,
you know for for the King's Bridge Armory and and
credit to the city and the state and mostly the
city's Economic Development Corporation for really engaging the community and
(09:57):
and and community leaders and elected official in a process.
And it's it's it's going to be transformed into a
community focused hub, a space for youth sports events, local businesses,
entrepreneurs and workforce training. They have selected a developers, Mad
(10:22):
Equities Enjoy Constructions. They've developed the designer. There's another phase
to that that also includes housing four hundred and fifty
units of affordable housing. But it's this is a you know,
a public private partnership that is going to take a
building that has been again empty for the longest time
(10:45):
in a key part of the Bronx, right adjacent to
Lehman College and Monroe College, and and and a lot
of other commerce. And my hope it's it's going to
happen sooner rather than later.
Speaker 2 (10:57):
This time for new Metro station should be completed within
two years, which is pretty soon. And then there is
also the recent announcement by Governor Hochel She's given a
twenty million dollar grant, yes, she did for Greater Morris Park.
So just tying those two together, what can you say
about how they'll sort of drive change.
Speaker 3 (11:18):
I think that's one of the most exciting projects in
the City of New York. Hands down, four new Metro
North stations along the Eastern Corridor. One, it makes it
easier to get back and forth to Manhattan. And if
it means getting back and forth to Manhattan easier, that
means you're going to see more workforce housing, you know,
(11:39):
if you could get the Grand Central, you know, in
less than twenty minutes from the East Bronx. If we
do this right, and I think we got this right
with the with the rezoning around a lot of those centers,
and if we get this right and in a lot
of cases, we haven't gotten it right. At Metro North State,
(12:00):
we haven't used the advantage. I often think of the
Fordham Station where I went to undergrad and graduate school.
There's a Metro North station there, but you know, if
you look at the surrounding area of that hub, it's
fragile and it has been fragile. It's getting better, but
it has been fragile over the year. How can we
(12:21):
plan this right? And I think the twenty million dollar
investment that the governor has made through the Downtown Revitalization
initiative is really challenging us to get it right. I
think a Metro Hutch Center right there, right, Metro Hutch Center,
which has Mercy University, which has a number of office towers,
(12:44):
that has manifor, a hospital, and retail and fitness centers
and open space and ball fields. This should be what
connects a lot of the dots there into a quite frankly,
a very attractive place. Boy, I'm gonna get in trouble
with my friends in Brooklyn, but I see it a
(13:05):
beta version of Metro tech. You know, given what is
taking place at the Metro Hutch Center, they have plans
for two new hotels they have plans for a new
Steam High school. Mercy University is growing like crazy, Mantafiora
is growing. This is this is prime time, this is
(13:26):
this is this is a really a new and exciting
chapter for the Bronx.
Speaker 2 (13:30):
Yeah. I was gonna say, we only have a couple
of minutes left, but it feels like this is there's
momentum now that is different than before.
Speaker 3 (13:38):
Look, I've been around for you know, decades, in government
for twenty years, and nonprofits for you know a number
I have never seen this type of momentum optimism about
new development, particularly in the Bronx, and the growth that
has taking place in the Bronx at Metro Hutch Center,
(14:00):
at our EDS and meds, our higher education, in our
medical institutions, and many of the entrepreneurs that are coming here,
and many of the people that are living here. You know,
you think about it. The South Bronx has had over
ten thousand units of housing that has been built. If
you go up and down the concourse, you're now seeing
(14:20):
a rebirth of some of these old, beautiful Art Deco buildings.
The Museum of Arts in the Bronx is going under
a forty million dollar renovation forty million dollars, So a
lot of great things happening in the borough.
Speaker 2 (14:36):
Just to wrap up, you also have a real estate
summit coming up in US.
Speaker 3 (14:39):
We do, we do. That's I appreciate you mentioned that,
and it happens to be on October twenty ninth. It's
a date that I remember because it's my daughter's birthday,
but it's also Hurricane Sandy. I'm not sure that there's
a parallel between the two. But we are going to
have a couple of panels. One panel is we're going
(15:00):
to have the Economic Development Corporation and their leadership, hopefully
Andrew Kimball, their president, could join us to talk about
many of these investments that I've mentioned. And another panel
that talks about how we best leverage what you pointed out,
that twenty million dollars and the Metro North stations that
(15:21):
are being built out. Let's get it right.
Speaker 2 (15:24):
And people can sign up and find out more on
the website that's right BXDC dot org. My guest has
been Rob Walsh, president of the Bronx Economic Development Corporation.
Thank you for being on Get Connected.
Speaker 3 (15:38):
Yeah, thank you very much, thanks for having me.
Speaker 1 (15:41):
This has been Get Connected with Nina del Rio on
one oh six point seven light Fm. The views and
opinions of our guests do not necessarily reflect the views
of the station. If you missed any part of our
show or want to share it, visit our website for
downloads and podcasts at one oh six to seven lightfm
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