‘Latest act of the greatest showman,’ expert says of new Mamdani business advisory panel

New York City Mayor Zohran Mamdani has established a 15-member Business Advisory Council, including prominent Jewish real estate figures like Scott Rechler and Douglas Steiner, to help shape the city's economic growth. The council, announced Thursday, will meet quarterly with the mayor and deputy mayor for economic justice Julie Su. Mamdani stated, "The doors of City Hall are always open to New York’s business leaders, and I look forward to welcoming their experience and strategic guidance."

• Critics, such as Santiago Vidal Calvo of the Manhattan Institute, view the council as a "publicity stunt," suggesting Mamdani is attempting to mend strained relationships with the business community after previously advocating against billionaires and proposing a "pied-à-terre tax."
• Some business leaders express concerns about New York City's attractiveness for investment, citing high corporate taxes and tenant-friendly state laws.
• Despite predictions of a corporate exodus, some investments are still being made, though firms like Bernstein Investment Research and Management have relocated headquarters to states with lower tax rates.
• The mayor's plan to open discounted grocery stores has also drawn criticism, with some small business owners reporting increased sanitation fines after opposing the initiative.