STATEMENT

by Kathryn S. Wylde, President and CEO
PARTNERSHIP FOR NEW YORK CITY

New York, New York
August 14, 2007

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Statement By Kathryn Wylde, President & CEO of the Partnership for New York City, On Federal Government Awarding New York City Funds for Mass Transit Improvements and Congestion Relief

 “In selecting New York City for the Urban Partners Program, the federal Department of Transportation has allowed us to meet the threshold criteria established by recent state legislation for implementation of a comprehensive program to reduce traffic congestion and improve mass transit in the region. The Partnership has documented the high cost of excess traffic, which results in losses of more than $13 billion and 50,000 jobs each year from our regional economy. Federal funding provides the carrot that will help pay for new buses, faster subways and the other measures required to incentivize people to get out of their cars and on to public transportation. This is a tremendous breakthrough in the struggle to achieve a more efficient, mobile city.”

The Partnership for New York City (www.pfnyc.org) is a network of business leaders dedicated to enhancing the economy of the five boroughs of New York City and maintaining the city’s position as the center of world commerce, finance and innovation.