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Mamdani names Lina Khan, Tony Shorris to lead NYC economic development

Created at 22 Jul · 2:46 PM1 source↑ Market-relevant
IN SHORT

New York City Mayor Zohran Mamdani appointed Lina Khan as chair of the Economic Development Board and Tony Shorris as head of the Economic Development Corporation, signaling a new direction for the city's economic strategy.

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Key Numbers

60m sq ftproperty overseen by EDC
$6bnconstruction investment managed by EDC
1979year Shorris first joined NYC government

Who's Involved

Zohran Mamdani
New York City mayor
Lina Khan
Next chair of the Economic Development Board, former FTC chair
Tony Shorris
Next leader of the Economic Development Corporation, former city official

↳ Why This Matters

The appointments of Lina Khan and Tony Shorris signal a potential shift in New York City's economic development strategy, moving towards a greater emphasis on economic justice and potentially addressing past criticisms of the EDC's alignment with business interests.

Key facts

  • Lina Khan has been appointed as the next chair of New York City's Economic Development Board.
  • Tony Shorris will lead the city's Economic Development Corporation.
  • Khan previously served as chair of the Federal Trade Commission.
  • Shorris has a long history in New York City government and most recently worked at McKinsey & Co.
  • The EDC manages a significant portfolio of property and active construction projects.

New York City Mayor Zohran Mamdani has announced significant leadership changes within the city's economic development apparatus, appointing Lina Khan as the new chair of the Economic Development Board (EDB) and Tony Shorris to lead the Economic Development Corporation (EDC).

Khan, who previously chaired the Federal Trade Commission, has been a key advisor to Mayor Mamdani and played a role in selecting candidates for the EDC president position. Shorris, a veteran of New York City government since 1979, returns to public service after a tenure as a partner at McKinsey & Co.

At a press conference, Shorris stated his inspiration stemmed from Mamdani's vision for New York and the values that underpinned his campaign. The EDC, a non-profit agency, oversees more than 60 million square feet of property and is responsible for approximately $6 billion in construction investment across about 100 active projects.

These appointments signal a shift in the city's approach to economic development, with Mamdani having established a deputy mayor for economic justice rather than a traditional deputy mayor for economic development. The EDC has historically faced scrutiny for its close ties to business interests, having approved major projects like Hudson Yards and the Cornell Tech campus.

Frequently asked questions

Zohran Mamdani is the current mayor of New York City.

The EDC is New York City's official economic development agency, responsible for overseeing property and managing construction investments.

Lina Khan previously chaired the Federal Trade Commission during the Biden administration.

This position signals a different approach to the city hall's role in economic development, prioritizing economic justice.

What Happens Next

01Khan and Shorris will assume their new roles leading the city's economic development agencies.

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Cadence

How It Developed

Mayor Zohran Mamdani appointed Lina Khan as chair of the Economic Development Board.
Tony Shorris was named the new leader of the Economic Development Corporation.
Shorris, a longtime city official, previously served as a partner at McKinsey & Co.
Khan previously chaired the Federal Trade Commission and advised the mayor.
Shorris expressed inspiration from Mamdani's vision for New York.
The EDC oversees over 60 million square feet of property and manages approximately $6 billion in construction investment.

Sources

T1
Mamdani taps Lina Khan and Tony Shorris for key New York economic postsThe Guardian

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