New York City’s Economic Development Corporation stands poised to hire a consulting firm to recommend ways to help the media industry grow in coming years. The government will seek to succeed where much of private media appears to be failing at the moment.

The New York Observer explains why this is a significant issue for the city:

The media industry is one of the largest in the city, accounting for more than 160,000 jobs and $15 billion in wages, and occupying more than 14 percent of Manhattan’s office space. EDC envisions the study as a yearlong effort that would include CEO round tables, workshops with industry professionals and suggested policy actions to bolster the industry.

(read the complete Observer article)