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New York City Industry Sector Dashboards

Arts, Entertainment and Recreation Sector

New York City has a world-renowned arts, entertainment and recreation sector, featuring celebrated performance venues, museums and sports teams as well as innovative artists and centers of creativity. The City’s status as a cultural powerhouse provides unparalleled offerings to foster new and established artists, making the sector vital to the City’s economy. The sector includes workers in the performing arts, spectator sports, museums, historic sites, amusement parks and arcades industries.

New York City Industry Sector Dashboards

Restaurant Sector

From small, family-owned restaurants and food carts to four-star world-famous establishments, New York City abounds with restaurants that offer cuisines from every corner of the globe. The restaurant subsector part of the accommodation and food services sector includes food and alcoholic beverage service establishments.

New York City Industry Sector Dashboards

New York City Industry Sector Dashboards

Office Sector

New York City has the world’s largest office property market by area, accounting for one third of private employment in the City. This sector includes the information, financial and real estate, and professional and business services industries. Accounting for one third of all jobs and two thirds of economic output, the sector is an essential driver of the City’s economy.

New York City Industry Sector Dashboards

Construction Sector

From the iconic buildings that comprise New York City’s famous skyline to its massive transit system and infrastructure, the construction sector is a vital element to keep the City’s economy running.

Local Sales Tax Collections Up 19% in 2021

Local government sales tax collections totaling $19.6 billion increased by 19.1%, or $3.1 billion, in 2021 compared to last year. This was the highest annual increase on record after a historic low in 2020 when local sales tax collections declined by 10%. Annual growth in 2019 was 4.7%.

Regional Table [.xlsx]

New York State Fiscal Year 2022-23 Executive Budget Review

Although the Division of the Budget forecasts in the State Fiscal Year 2022-23 Executive Budget that the budget will remain in balance for the next five years, the direction of the pandemic, inflation, and supply chain issues all remain risks to the state’s economic recovery and financial plan. The budget also proposes billions of dollars in spending that would bypass critical oversight if enacted.

Identifying Fiscal Cliffs in New York City’s Financial Plan

New York City’s published financial plan includes funding for some recurring spending initiatives for only a limited period, creating additional risks to already identified budget gaps. The Office of the State Comptroller has created a tool to identify sources and uses of funds for City programs that are not fully funded during the remaining years of the City’s financial plan, through Fiscal Year 2025