New York City Mayor Zohran Mamdani has kept business leaders waiting for his economic growth plan. This week, the city's business elite received an unexpected surprise when Mamdani named a new chair of the city's powerful Economic Development Corporation: Lina Khan, the 37-year-old who made her name crusading against the world's largest corporations as head of the Federal Trade Commission during the Biden administration.

Khan, viewed by some in corporate America as hostile to their interests, will work with another appointee they see as more of an ally. The appointment signals a potential shift in how the city approaches economic development, balancing progressive antitrust credentials with the need to attract and retain businesses.

Business groups are watching closely to see whether Khan's regulatory philosophy will translate to city-level economic policy or if she will adopt a more conciliatory approach toward the private sector. Her tenure at the FTC featured aggressive enforcement against major tech firms, raising questions about her stance on local corporate partnerships.