Over $1 billion is being set aside by the city in order to help make new jobs for New Yorkers.

Mayor Eric Adams announced this investment on Thursday, calling it the city's first-ever "community hiring effort." The money is based in contracts that Adams says will create new job opportunities for those who need it most.

"It uses the city's purchasing power to create jobs. It's a smart, smart way of recycling our tax dollars," said Adams. "It drives new economic opportunities across the five boroughs, including our neighbors in NYCHA."

The focus of these contracts will be for positions including but not limited to security guards, field inspectors, and other safety-related jobs.

The city says that new hires will be given free training for these roles.