In recent weeks, Mayor Kasim Reed’s economic leadership has put Atlanta in the national spotlight. With appearances on Meet the Press and profiles in Roll Call and The Economist, Mayor Reed’s economic leadership has been recognized nationwide. Today, Mayor Reed will continue bringing national attention to Atlanta when he rings the closing bell for NASDAQ during a visit to New York. As Mayor Reed rings the closing bell at NASDAQ, snippets from his 2011 State of the City address will play simultaneously in Times Square on the NASDAQ screen.
Since taking office, Mayor Reed has hired more than 250 police officers, improved fire-rescue response times, re-opened all of the city’s recreation centers as safe havens for young people, and improved the service delivery of city departments such as Sanitation and Public Works. Within 18 months, he has increased the city’s reserves from $7.4 to more than $70 million dollars. Working with the Atlanta City Council and the city’s employee unions, he successfully initiated a series of sweeping reforms to address the city’s pension liability.
The comprehensive pension reform plan creates $22 million in savings the first year, reduces the city’s exposure to market risk and allows the city to pay off a $1.5 billion unfunded pension liability. The measure saves the city more than $270 million over the next 10 years, and more than $500 million over 30 years.
Mayor Kasim Reed – New Leadership for a New Direction.