“New York City’s $98.6 billion executive budget for FY 2022 and its financial plan for FY 2022–FY 2025 reflect a drastically improved short-term budget outlook, buoyed by more than $15 billion in federal relief since December and better-than-projected revenues.
The COVID-19 pandemic abruptly halted tourism in New York City, one of the world’s top tourist and business traveler destinations, during parts of 2020, resulting in a dramatic falloff in the number of visitors and creating a steep drop in economic activity, according to a report released today by New York State Comptroller Thomas P. DiNapoli.
The MTA’s capital program for 2020-2024 totals $54.8 billion, by far the largest program in its history. As of December 31, 2020, only 100 of 517 projects had been completed or begun, and most of the rest of the program had been indefinitely suspended.
New York State Comptroller Thomas P. DiNapoli’s annual report on the Metropolitan Transportation Authority’s debt levels found the MTA does not have the resources to fully fund its $54.8 billion 2020-2024 capital program, which is vital to improving riders’ experience and bringing them back to the transit system.
New York State’s hotel industry has experienced a decade of strong growth, driven by an increase in tourism. A record number of visitors (227.5 million) came to New York State in 2014, and a new record was likely set in 2015.
The average bonus paid to employees in New York City’s securities industry grew by 10 percent in 2020 to $184,000, in line with the city’s most recent 9.9 percent projection, likely allowing the city to meet or exceed its income tax revenue projections in FY2021.
The average bonus paid to employees in New York City’s securities industry grew by 10 percent in 2020 to $184,000, in line with the city’s most recent 9.9 percent projection, likely allowing the city to meet or exceed its income tax revenue projections in FY2021, according to annual estimates released today by New York State Comptroller Thomas P. DiNapoli.
Comptroller DiNapoli has launched an interactive online tool of subway ridership that details where straphangers are, and are not, returning to the subway system, alongside neighborhood and local demographics, employment and income.
New York State Comptroller Thomas P. DiNapoli announced today that he has launched an interactive online tool using subway ridership data that details where straphangers are, and are not, returning to the subway system, alongside neighborhood and local demographics, employment and income.
As of December 2020, arts, entertainment and recreation employment declined by 66 percent from one year earlier, the largest decline among the City’s economic sectors.
