Fortress Investment Group is New York’s largest hedge fund and private equity company. Recently, Fortress has been looking for a partner to help them expand their business in New York City. They have partnered with New York Mayor Bill de Blasio and Governor Andrew Cuomo to find a new partner through the cities’ Economic Development Corporation (NYEDC).
The hope is that this expansion will create jobs for New Yorkers who seek work or need assistance finding employment. In the City alone, there are currently over 200 residents who have been out of work for six months or more. Fortress has partnered with Mayor de Blasio and Governor Cuomo to find a partner that can help these New Yorkers find jobs.
This partnership is also important because the city’s unemployment rate is at its lowest point in years; however, New Yorkers are still out of work. Fortress Investment Group is a company that prides itself on its diversity and brings together people from all backgrounds to come up with creative solutions for their clients.
They have worked with New York City before, having helped them manage the city’s pension fund in 2006. In this new partnership, Fortress Investment Group hope to find a partner to help the City’s economy thrive.
The company is looking to help New Yorkers stay in the City and not be pushed out by rising rents or housing costs. New Yorkers are also seeking better job opportunities through this partnership, especially for minority communities who continue to face challenges when it comes to employment.
The best way for Fortress Investment Group to expand its business would be through workforce development programs. New Yorkers require additional training and skills for workforce development, especially for minorities who have been left out from Fortress’s current investment group. The company should make a point to include these residents with this new partnership program through the NYEDC. Go Here for related Information.