Rachel Loeb. Image Credit: NYC EDC
Outgoing EDC President James Patchett returns to the private sector while Acting EDC President Rachel Loeb is appointed and works to help NYC recover, rebuild, and reemerge in the wake of the COVID-19 pandemic. On Monday, March 8, 2021, Rachel Loeb assumed the position of Acting President of the New York City Economic Development Corporation (EDC) after being appointed by Mayor Bill de Blasio. Loeb succeeds James Patchett, who worked for the City for seven years. Patchett is returning to the private sector.
Before assuming the position of Acting President, Loeb served as EDC’s Executive Vice President and Chief Operating Officer. As Chief Operating Officer, Loeb oversaw and directed the EDC’s priorities in real estate, asset management, and neighborhood planning. Since joining the EDC in 2018, Loeb’s work included advancing plans to activate the South Brooklyn Marine Terminal as a staging, installation, and maintenance site for the growing offshore wind industry. Also, Loeb negotiated with a Brooklyn-based soundstage operator, Steiner Studios, to develop a new film and television hub in Sunset Park, Brooklyn which will support 2,200 jobs and fund local workforce development to diversify the film and television industry. Loeb also played an “instrumental” part in the EDC’s response to the COVID-19 pandemic and the EDC’s plan for the city’s economic recovery.
Acting President Loeb will oversee EDC’s projects on life sciences, land use, investments in infrastructure, and innovation.
Commenting on Loeb’s appointment to Acting EDC President, Mayor de Blasio stated, “From sourcing essential PPE, to building the first-of-its-kind Pandemic Response Lab, to helping make New York City a global life sciences leader, EDC has done extraordinary work in leading this city’s fight against COVID-19. I know Rachel will build on that work and serve as a fearless, creative advocate for this city’s recovery…I’m grateful for James Patchett’s service to his fellow New Yorkers, and I can’t wait to work closely with Rachel to build a recovery for all of us.”
Acting EDC President Rachel Loeb stated, “I am honored Mayor de Blasio and Deputy Mayor Been have asked me to serve as Acting President…I look forward to working with them. It is my pleasure to continue to work with my excellent colleagues at EDC to build on the vision James Patchett set for us. Together we will help NYC recover, rebuild, and reemerge as we reignite our economy in the wake of the COVID-19 pandemic.”
By: Sarah Cobble (Sarah is the CityLaw intern and a New York Law School student, Class of 2022.)