New York’s tourism sector is approaching a complete recovery as visitor spending and related tax revenue have surpassed pre-pandemic levels, according to a new report from New York State Comptroller Thomas P. DiNapoli. The city estimates it will exceed pre-pandemic levels and welcome a record 68 million visitors by 2025.
New York City’s tourism sector is approaching a complete recovery as visitor spending and related tax revenue have surpassed pre-pandemic levels. The City now estimates it will exceed pre-pandemic levels and welcome a record 68 million visitors by 2025. The number of visitors had reached a previous record of 66.6 million in 2019 before the COVID-19 pandemic devastated this thriving industry, resulting in a 66.5% decline in visitors to 22.3 million in 2020.
New York's local Industrial Development Agencies (IDAs) reported 4,320 active projects with a record high total value of $132 billion in 2022, an increase of $5 billion (3.9%), from 2021, according to State Comptroller Thomas P. DiNapoli’s annual report.
New York State Comptroller Thomas P. DiNapoli and Ulster County District Attorney Emmanuel C. Nneji announced that Gina Bradshaw, an office manager for numerous doctors’ offices in Manhattan, has pleaded guilty to defrauding the New York State Insurance Plan (NYSHIP) out of more than $12,000 by submitting phony medical claims for reimbursement.
New York State Comptroller Thomas P. DiNapoli today announced the following local government audits were issued.
The estimated $237 billion Enacted Budget for State Fiscal Year (SFY) 2024-25 increases spending for vital state services like Medicaid and school aid and includes new funding and policy changes to spur the creation of much needed housing, but the state’s financial outlook includes several risks, according to a report by State Comptroller Thomas P. DiNapoli.
The estimated $237 billion Enacted Budget for State Fiscal Year 2024-25 increases spending for vital state services like Medicaid and school aid and includes new funding and policy changes to spur the creation of much needed housing, but the State’s financial outlook includes several risks. At the State level, certain revenue streams that have been critical to maintaining budget balance are either scheduled to expire or be depleted in the years ahead, meaning current spending levels will be difficult to sustain.
Nearly one in five New York children live in poverty, and rates are significantly higher in some of New York's largest cities. With the 2021 Child Poverty Reduction Act, New York has set a goal to reduce child poverty by 50% by 2031 and has taken action in recent State budgets. The State and federal government have the solutions to lift more children out of poverty, and policymakers should act with urgency to use them.
New York State Comptroller Thomas P. DiNapoli announced today the following audits have been issued.
Local sales tax collections in New York state increased by 1.5% in April compared to the same month in 2023. Overall, local collections totaled $1.76 billion, up $26.1 million from the same time last year.
