Mayor Eric Adams and Israeli leaders sign the New York City Israel Economic Council agreement to promote economic cooperation.
Mayor Eric Adams has signed a business engagement agreement with Israel to strengthen economic ties, establishing the New York City-Israel Economic Council. The council aims to assist Israeli companies in expanding into New York, focusing on sectors like artificial intelligence, life sciences, and environmental innovation. Amid rising pressure for sanctions against Israel, Adams emphasized the importance of preserving business relationships while combating antisemitism. This new initiative is seen as a pivotal step in enhancing cooperation and fostering economic growth between the two regions.
New York City – Mayor Eric Adams signed a business engagement agreement with Israel on Monday, aimed at strengthening economic ties between New York City and the Israeli government. The signing took place during The Jerusalem Post conference in Manhattan, where Adams was joined by Israeli Economy Minister Nir Barkat.
This new partnership establishes the New York City-Israel Economic Council, which will focus on enhancing cooperation between New York and Israeli businesses. The council is tasked with assisting Israeli companies seeking to expand into the New York market, particularly in sectors defined as critical, including artificial intelligence, life sciences, and environmental innovation.
The announcement of this economic agreement comes in the midst of rising international pressure for sanctions against Israel, driven by its ongoing military campaign in Gaza. Progressive politicians in New York, including mayoral candidate Zohran Mamdani, have voiced support for divesting from Israel, highlighting a growing divide in local political sentiment regarding support for the country.
In contrast, during the agreement signing, Adams opposed the calls for divestment. He emphasized his commitment to preserving business relationships with Israel and underlined the importance of these ties for the city’s economy. Adams referred to Barkat in endearing terms, reflecting their mutual respect and support.
Adams’s endorsement of the partnership further solidifies his strategy to garner backing from the influential Jewish Orthodox community in New York City. After deciding to run for reelection as an independent, post exiting the Democratic primary, he has emphasized combating antisemitism and enhancing support for Jewish communities as part of his campaign platform.
In line with his commitment, Adams recently established a new Office to Combat Antisemitism, aimed at monitoring and addressing antisemitic actions and rhetoric within the city. This office will also focus on reallocating city funding from organizations identified as antisemitic, reinforcing his stance on the importance of maintaining positive relationships with Jewish communities worldwide.
The ongoing efforts encapsulated in this agreement illustrate how the New York City-Israel Economic Council will work to match Israeli companies with local city agencies, fostering greater collaboration on various projects that could benefit both economies. The agreement also acknowledges New York’s role as a critical hub for Israeli businesses, providing access to U.S. financial markets and a platform to attract potential investors.
A recent report from the United States-Israel Business Alliance highlighted that 30 Israeli-founded unicorns are currently based in New York State, contributing significantly to the local economy and generating over 14,000 jobs. This partnership is seen as an opportunity to leverage the innovative spirit of both Israel and New York City, fostering further economic development and job creation.
Through this dedicated initiative, Adams reiterated his commitment to ensuring that New York continues to invest in Israel, regardless of growing calls for divestment from progressive factions within the city. The establishment of the New York City-Israel Economic Council represents a pivotal moment in reinforcing collaborative ties and enhancing economic opportunities across borders.
New York City Launches Economic Council with Israel
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