05 05 15 Citi Suggested Metrics

Below is the “LMI” criteria that Citi Community Development is bound to:

An individual is considered “low-to-moderate income” (LMI) if his or her household income is $55,113 or below ,which is less than 80% of the New York-Jersey City-White Plains, NY-NJ Metropolitan Statistical Areas (MSA code 35614) Federal Financial Institutions Examination Council (FFIEC) estimated 2014 Median Family Income of $68,900.
A small business meets the “economic development” criteria if it earns $1 million or less in annual gross revenue AND one of the following two criteria is also true:

· the business supports permanent job creation/retention/improvement for low-to- moderate (LMI) income individuals

· the business is located in a low-to-moderate (LMI) income census tract, or in a government-targeted redevelopment area.

Of these last two criteria, the latter is much clearer to implement than the former.

This is the page within FFEIC’s site that we use to check specific addresses against census tract classifications.

With regard to what I think we’d want to see in a first-pass prototype, I’d like to propose the following: (Claire, please weigh in here)

For each borough, zip code, census tract and neighborhood (seems like CUSP already knows how to geo code the “neighborhoods”?):

Number of businesses with fewer than 20, fewer than 50, fewer than 100 employees, 100+ employees (FTE? PTES? Both?)
Number of businesses in operation < 2 yrs, < 5 yrs, < 10 yrs, 10+ yrs
Number of businesses by sector (some reasonable roll-up of NAICS/SIC codes – retail, restaurant, personal services, professional services, manufacturing, etc.)
Number of businesses by annual revenue (< $100K, $100K -< $500K, $500K - < $1m, $1m+) – make sure the cut at the $1M mark is consistent with the “LMI” definition above
Number of businesses by ethnicity of owner
Number of businesses by gender of owner
Number of business who own vs. rent their space
Number of home-based businesses (is this knowable?)
Number of “LMI” businesses

district level data tool that Citi sent: http://www.mydistrictdata.com/

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