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TH E M ONTHLYBUSINESS SECTIONOF THE PH O ENIXNEW SPAPERPublished by Serif Press, Inc.395 Atlantic AvenueBrooklyn, NY 11217Telephone 718-643-1400P u b lis h e rD. B. A rm s tro n g. E d ito r-in - C h ie fM ic h a e l A . A rm s tro n g%u2014 %u2014 Edi t orT racy G a rritysssjssssSSsS ve rtisin gB in n i Ip c a rS ydney Sue S e lonick. %u2022 . Gener al \\ 1 onagerG eorge F ia la^X%u00abvvvr^\\^\\%\\%v%s\\w%v.S'.-.sv.N W S |f^cto fM ic h a e l M o la n p h yThe Phoenixand Its SpecialBusiness SectionsWere Honoredby theNew York PressAssociationasBest in New YorkState for Coverageof Business andEconomic Newsin 1985The Phoenix and its Brooklyn, Inc Business Section welcome free lance contributions on Brooklyn business subjects. Send material to: Editor,395 Atlantic Avenue, Brooklyn 11217.For return of material and photographs, be sure to include a stamped, self-addressed envelope.D eadlines f o r the N e x tB ro o k ly n , In c . Business S e ction:Editorial, November 2QAdvertising, November 18P j/f t /s V '/i/m n ril/j/%u00bb /i%u00bb in A /ii* CF#r Advertising InformationCall (718) 643-1400E D ITO R IA L Brooklyn,____ incBrooklyn Needs A Baseball IdentityIn the midst of the celebration of the NY Mets WorldSeries success, one is reminded of their ancestralforbears, the old Brooklyn Dodgers. In the years beforetheir departure, they provided many thrills and heartbreaks and most important, a sense of identity and prideto the denizens of our fair borough.Brooklyn has gone through its hard times, and theresurgence we feel in both our economic and culturallives here brings us to the point where a revival in oursporting heritage seems a logical next step.Mayors of cities much smaller than our borough acrossthe country seize on the success of their professionalteams as a springboard for civic pride and accomplishment. The time is right for Brooklyn to once again havethat opportunity.A sports complex for use by college, semi-professionaland professional sports as encouraged by our Chamber ofCommerce is a good first step. Minor league franchisesare a second. And as our image and economic base continues to grow, perhaps major league teams will follow.BUSINESS VIEWS B ro o k ly nCity M ust Continue To M ake Industrial Space A vailable In BrooklynBY ROB TAYLORWith the recent spurt of jobs, investmentand downtown development in Brooklyn,the directors of three of the borough%u2019slargest industrial development projects arewarning that the City of New York needs toidentify more space for industry to assurecontinued prosperity.Describing the outlook for Brooklyn industrial real estate as %u201cexcellent,%u201d IraPress, vice-president of Industry CityAssociates at Bush Terminal, remindedmore than 60 real estate brokers, consultants and landlords attending an Oct. 28morning conference on industrial realestate at Long Island University that thereis no new industrial space being built inNew York City today. %u201cEverything isalready there,\concurred with his outlook.Press spoke from his experience as leasing director of the huge Industry City complex on the Sunset Park waterfront. At onetime, the complex supported 60,000 jobs.Press says that he is working toward thatgoal again, and is presently leasing space tocompanies hiring about 12,000 employees.Press predicts that Industry City, whichplans to be turned into one of the state%u2019sfirst industrial condominiums, will be fullwithin a few years and that the City andState governments need to more activelytry to lure industry to the metropolitanarea. In order to provide more space forthat industry, he says, that City-owned vacant property should be turned over toprivate developers for industrial use.Agreeing with Press%u2019 assessment,Dominick Massa, chairman of theSouthwest Brooklyn Industrial DevelopmentCorporation, says that the City and thedevelopment corporations are making iteasy to %u201cdo business in New York.%u201d His corporation has been actively marketing thepiers along the Brooklyn waterfront as industrial space. One of the largest pieces ofproperty the non-profit group has beenWe certainly do not need to workon marketing industrial spaceright now. The emphasis has tobe to aggressively identifymore space.pushing is the Brooklyn Army Terminal.The City%u2019s Public Development Corporationhas invested nearly $33 million to upgradethe facility that at one time had about 50,000workers. The Terminal has about onemillion square feet of industrial space thatis nearly ready for new occupants. %u201cI seethe whole Army Terminal leased out in thefuture,%u201d Massa says. %u201cThe problem, I think,is the creation of more space.%u201dMassa adds that there is a real lack ofone-story buildings currently available andthat New York City is losing to New Jerseyindustrial parks a lot of the clients lookingfor this type of space. %u201cNew Jersey is putting us to shame,%u201d Massa says and suggeststhat the City investigate the construction ofone-story industrial complexes inneighborhoods like East New York.This outlook is confirmed by Mary Wolf,vice-president of the City%u2019s Public Development Corporation. %u201cWe certainly do notneed to work on marketing industrial spaceright now,%u201d she says. %u201cThe emphasis has tobe to aggressively identify more space.%u201dCurrently, the City has about 27 industrialsites available. Wolf thinks that by nextyear there will only be seven to ten sitesopen for development.%u201cRight now, we can provide almostanything a company wants,%u201d she says. %u201cButnext year it might be more difficult.%u201dFrom his experience as chairman of theBrooklyn Navy Yard Development Corporation, David Lenefsky says that the Cityneeds to go after any industrial space it canget. Although changes in the operation ofCoastal Dry Dock Corp. have opened up400,000 square feet of additional space at theNavy Yard, Lenefsky says that at the fairmarket rate of $3.50 for ground-floor space,he thinks he will be able to find new tenantsto move in to the vacant site.From his perspective, Lenefsky says thatthe City should concentrate their effortstoward small and medium-sized industry.%u201cThe really large companies can take careof themselves,%u201d he says.B USINESS TRENDS ~Projections Look Good For Job Growth In Borough Through 1990Brooklyn%u2019s local economy should enjoy aperiod of modest overall growth through1990 with job gains in five of its six majorsectors, according to an economic forecastprepared by the Municipal Research Institute.The 1986-1990 forecast is contained in anew 200-page publication issued in Octoberentitled %u201cBrooklyn Economic Profile andBusiness Outlook 1986.%u201d The projections arebased upon a statistical analysis of currenteconomic trends, says Daniel McCarthy, theinstitute%u2019s executive director.Total private sector employment in theborough will register a net increase of 3.8%or 14,000 jobs in the 1986 to 1990 period. Theprojected loss of 6,000 Manufacturing jobswill be more than offset by combined gainsof 20,000 jobs in the Finance, Services,Trade, Construction and Public Utilitiessectors.Here is a summary of the 1986-1990forecast:MANUFACTURING SECTOR - The longterm decline in manufacturing jobs willcontinue through 1990 %u2014 but at a muchslower rate in comparison to the 1980-1985period. The aggregate loss of factory jobswill total 6,000 over the next five years.CONSTRUCTION SECTOR - Fueled byrecord public investment in local infrastructure renewal, construction employment willcontinue its recent expansion, with 2,500new jobs added by 1990.FINANCE SECTOR - The finance, insurance and real estate sector of theborough%u2019s economy will register the fastestrate of growth through 1990 as 5,000 jobs areadded in Downtown Brooklyn %u2014 chiefly innew back office development for thesecurities and banking industries.TRADE SECTOR - The influx of higher income residents combined with therevitalization of local commercial stripswill sustain the recent turnaround inBrooklyn retail trade employment through1990. New trade sector jobs will total 4,000over the next five years.PUBLIC UTILITIES SECTOR - Thedownward trend since 1977 in total employment in the transportation, communicationand public utilities sector will give way tooverall stability in the 1986-1990 period. Avery small increase of 500 jobs Is projectedby 1990 in the sector.SERVICES SECTOR - The rapid rate of jobexpansion in the services sector will slowover the next five years due to reducedgrowth in government spending for healthcare and other non-profit services inBrooklyn. A total of 8,000 new private jobsin services will be added to Brooklyn%u2019seconomy by 1990 %u2014 more than any othersingle sector.The complete 200-page publication isavailable by mail order for $25 plus $2.06sales tax. Please make checks payable tothe Municipal Research Institute and sendto 5 Beekman Street, NYC 10038. For information call (212) 732-0067.BOROUGH OF BROOKLYN TOTAL PRIVATE SECTOR EMPLOYMENT1977 and 19858 0 ,8 0 01 2 4 ,6 0 09 3 ,2 0 0 9 2 ,9 0 02 9 ,3 0 0S S J 2 4 ,5 0 09 0 ,9 0 0B S S M %u00b0 %u00b0%u00b0 S S & M S S S H l%u25a0 ' a n a f i %u00bb2 5,80022,000MMANUFACTURING CONSTRUCTION TRANSPORTATION TRADEA U T IL I T I E SFINANCE SERVICES1977 TOTAL EMPLOYMENT 1985 TOTAL EMPLOYMENT