{"id":5479,"date":"2026-07-27T10:41:07","date_gmt":"2026-07-27T10:41:07","guid":{"rendered":"https:\/\/metrotransitreview.com\/?p=5479"},"modified":"2026-07-27T10:41:07","modified_gmt":"2026-07-27T10:41:07","slug":"yes-mamdani-just-made-a-business-basher-his-nyc-economic-development-czar","status":"publish","type":"post","link":"https:\/\/metrotransitreview.com\/?p=5479","title":{"rendered":"Yes, Mamdani just made a business-basher his NYC ‘economic development’ czar"},"content":{"rendered":"
\n

For the first six months of Mayor Zohran Mamdani\u2019s tenure, the leadership of New York City\u2019s Economic Development Corporation remained a question mark.<\/p>\n

Read more New bill aims to block federal funds from cities, police that use controversial Flock Safety cameras<\/a><\/p>\n

Last week he answered that question \u2014 and raised even more.<\/p>\n

Mamdani appointed Lina Khan, President Joe Biden\u2019s notorious antitrust crusader, to chair the EDC\u2019s board, and selected Anthony Shorris, a former first deputy mayor under Bill de Blasio and current partner at McKinsey & Co., as EDC president.<\/p>\n

Former mayors used the EDC as a vehicle for growth, investment and job creation.<\/p>\n

Khan\u2019s appointment signals that Mamani, in contrast, plans to wield it as a lever to remake the city\u2019s economy in a progressive mold.<\/p>\n

And as Gotham struggles to compete against fast-growing, low-tax Sun Belt cities, Khan\u2019s influence could make New York even less business-friendly.<\/p>\n

For years, the EDC\u2019s primary ambit has involved overseeing real estate development and public-private partnerships within the city.<\/p>\n

Because it operates under more flexible procurement and staffing rules than the infamously ossified city government does, it can move faster to pursue deals and complete projects.<\/p>\n

Hudson Yards, the new Yankee Stadium and the NYC ferry system are just a few of its successes.<\/p>\n

But Mamdani was slow to appoint new leadership, leaving the corporation rudderless.<\/p>\n

And top aides like\u00a0Deputy Mayor for Economic Justice Julie Su have made it clear that he intends to remake the EDC as a conduit for economic justice.<\/p>\n

Candidates for the agency\u2019s leadership positions were reportedly peppered with questions about holding companies accountable, not queries on boosting the city\u2019s economic competitiveness, in their job interviews.<\/p>\n

Khan, who chaired of the Federal Trade Commission under Biden \u2014 and who, according to The New York Times, has \u201climited experience in economic development\u201d \u2014 oversaw those interviews.<\/p>\n

She\u2019s a controversial figure, and for good reason: Her reign as FTC chair was marked by her openly anti-business bent.<\/p>\n

During her tenure, the agency axed a key line from its mission statement: a vow to pursue its policies \u201cwithout unduly burdening legitimate business activity.\u201d<\/p>\n

Instead, Khan appeared ideologically determined to burden businesses in any way possible.<\/p>\n

Khan chose to expand the agency\u2019s authority well beyond enforcing antitrust law, its normal bailiwick.<\/p>\n

She expanded its mission to include cracking down on \u201cunfair competition\u201d outside the antitrust realm, such as her war on \u201cjunk fees.\u201d<\/p>\n

The FTC began operating as a roving government policeman, free to target any business conduct that met its disapproval.<\/p>\n

Read more TikTokker voiced concerns about Seattle Center food festival security day before mass shooting that left 3 dead<\/a><\/p>\n

Rather than relying on the agency\u2019s usual case-by-case method of enforcing the law, Khan started pursuing\u00a0broader rule-makings\u00a0that sought to restrict entire sectors of the economy.<\/p>\n

The agency passed a nationwide ban on noncompete agreements, a blatant overreach that was later\u00a0struck down\u00a0in federal court.<\/p>\n

The FTC also attempted to impose aggressive\u00a0rules\u00a0on data security and surveillance advertising \u2014 an effort that would have turned the agency into a shadow legislature for our digital economy.<\/p>\n

Under Khan, the FTC blocked several high-profile mergers, including one between the grocery chains Albertsons and Kroger \u2014 even though the merger would have likely increased <\/em>healthy competition in the grocery industry.<\/p>\n

Khan is a leading proponent of the recent progressive push attacking big business and corporate consolidation.<\/p>\n

Under this ideology, large companies are \u201cinherently dangerous\u201d \u2014 so the government should reshape the economy and restore power into \u201cthe hands of small-business owners.\u201d<\/p>\n

It\u2019s uncertain how this worldview might play out at the EDC with Khan as chair.<\/p>\n

Shorris, who will run its day-to-day operations, may serve as a counterbalance to Khan\u2019s anti-business zeal.<\/p>\n

But some early clues indicate otherwise.<\/p>\n

In Mamdani\u2019s first few months, the EDC debuted what it\u2019s calling a first-of-its-kind government-backed insurance program that\u2019s targeted toward affordable housing and rent-stabilized units.<\/p>\n

But the program merely throws public money at the growing problem of high property-insurance costs, without addressing its sources, including the state\u2019s tort and liability laws.<\/p>\n

Mamdani has also tasked the EDC with spearheading his government-run grocery-store plan.<\/p>\n

But his\u00a0team failed to conduct a small-business impact analysis on the scheme \u2014 and local bodega owners rightly view the government-backed competition as a direct threat.<\/p>\n

More democratic-socialist initiatives might soon emanate from the EDC, alongside more conventional economic development projects.<\/p>\n

\n<\/div>\n

But if Mamdani can\u2019t spur growth in good-paying jobs, he\u2019s going to pay the price come next year\u2019s budget.<\/p>\n

So far, a strong stock market and Wall Street bonuses have buoyed him \u2014 and that may not last.<\/p>\n

Khan remade the FTC in her own image, turning it into a crusading force for progressive ideology.<\/p>\n

Read more Local mom who gifted retired NYPD cop\u2019s innocent son the bike he rode before he was fatally shot rages at Mamdani<\/a><\/p>\n

New York City may be her next experiment.<\/p>\n

C. Jarrett Dieterle is a legal policy fellow at Manhattan Institute<\/em>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

As Gotham struggles to compete against fast-growing, low-tax Sun Belt cities, Lina Khan\u2019s influence could make New York even less business-friendly.<\/p>\n","protected":false},"author":1,"featured_media":5478,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-5479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opinion"],"yoast_head":"\nYes, Mamdani just made a business-basher his NYC 'economic development' czar - Metro Transit Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/metrotransitreview.com\/?p=5479\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yes, Mamdani just made a business-basher his NYC 'economic development' czar - 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