The New Business Acceleration Team is a two-year-old initiative that shortens  the process of opening a new restaurant, reducing the processing period from six months to four. The city boasted that as of December, about 550 restaurants were opened as a result of the initiative, creating over 6,000 jobs.

Formed in March 2010, the New Business Acceleration Team works to facilitate inspections from City agencies, including the Fire Department, Health Department and Department of Buildings, among other relevant agencies, and works to reduce the time needed to obtain permits. Under the new program, every application for a new restaurant is assigned a case manager who guides the restaurant owner through the entire process.

Mayor Bloomberg explained that “by streamlining the process and making it easier to work with City government, we’re encouraging businesses to open, create jobs and generate additional economic activity in all five boroughs.”

The New Business Acceleration Team’s accelerated openings have generated $9 million in additional tax revenue and $50 million in additional sales revenue.

Currently, all new restaurants in Manhattan are required to participate, but the program remains optional for those opening businesses in Brooklyn, Queens, Staten Island and the Bronx. The City also created the NYC Business Express online portal, which offers business owners and entrepreneurs the information they need to open and operate a business as well as the opportunity to apply for permits, licenses and certifications and to check violation statuses online.