Energy Consumption in New York City
In the July 2013 Economic Snapshot we looked at energy consumption in New York City. July happens to be historically the City’s hottest month on average, which results in greater energy use to power our air conditioners.
New York City is more efficient than the U.S. as a whole in terms of per capita energy use. New Yorkers consume less energy driving and more in buildings than Americans on average. Read the full report to learn more about NYC's energy...Read More
Venture Capital in New York, Q1 2013
By Andrea Moore, Project Manager, Economic Research & Analysis
Last week, the National Venture Capital Association (NVCA) and PricewaterhouseCoopers released their most recent quarterly MoneyTree report, which provides information on U.S. venture capital deals and investment dollars. StatsBee wanted to take a quick look and assess how New York State did during the first quarter of 2013.
New York posted another solid quarter of venture capital investment, especially...Read More
Women, Tech, and Work-Life Balance in NYC
By Fiona Peach, Assistant Vice President, and Andrea Moore, Project Manager, Economic Research and Analysis
New York City’s tech scene has been getting a lot of attention lately, including our most recent StatsBee post about NYC’s tech boom in 2012. A http://www.thegreenespace.org/events/thegreenespace/2013/mar/19/wnyc-pre......Read More
New York City's Tech Boom
By Michael Moynihan, Chief Economist & Senior Vice President for Research & Analysis
It’s no secret that the New York City technology scene is booming. Spurred by city initiatives combined with favorable global trends, the City has incubated some of the hottest startups around. Tumblr, Foursquare and Gilt Groupe are just three examples of the City’s ability to spawn new companies that leverage the City’s existing strengths in media, communications and fashion. While startups abound, many are still privately-held, making the precise value of the overall tech sector hard to quantify. However, confirmation of the economic value of the startup scene emerges from recently released figures that testify...Read More
Economic Impact of New York City's Cruise Industry
NYCruise has done it again! Mayor Bloomberg announced that New York City’s cruise industry generated a total economic impact of nearly $200 million in 2012! The 2012 Economic Impact Study detailed some of the highlights for the Cruise Industry here in NYC including:
- A 32% increase in passengers, up from 445,718 in 2009 to 587,727 in 2012
- A 40% increase in ship calls at the Manhattan and Brooklyn Cruise Terminals, up from 181 in 2009 to 251 in 2012
Coffee and Tea in New York City
By Andrea Moore, Project Manager, Economic Research and Analysis
The excitement of the holidays is now behind us and we have officially entered into winter in New York City. With hectic schedules and no shortage of things to do even in chillier temperatures, City residents and visitors alike often turn to a hot cup of coffee, tea, or cocoa for a...Read More
New York City Breaks Tourism Record in 2012 with 52 Million Visitors
Photo Credit: Sugar Daze via Flickr
New York City welcomed a record 52 million visitors in 2012, a new all-time high and a 2.1 percent increase over 2011. Visitors to the city generated an estimated $55.3 billion in economic impact to the city’s economy, with direct spending reaching $36.9 billion.
In addition, New York City sold a record 29 million hotel room nights and generated $504 million in hotel tax revenue. With increased visitation, New York City’s hotel room inventory continues to expand...Read More
A Closer Look at Retail Growth in New York City
In the August 2012 Economic Snapshot, we looked at the industries driving economic growth in New York City. One of the sectors that showed solid growth from 2010 to 2011 was Retail Trade.
While the number of Retail establishments grew at roughly the same pace as the overall private sector during the year, employment in Retail grew at a faster rate: 3.6 percent from 2010 to 2011, compared with private employment growth of 2.8 percent. When compared with the industry’s performance over the past decade, Retail’s recent boom is even more...Read More
2012 US Open Tennis Championships
Tennis fever will once again take over New York City next week, as the country’s largest tennis tournament returns to Queens! The US Open, which begins play on Monday, August 27, is the last of the four major tournaments of the tennis season. Nearly 713,000 people attended the US Open in 2010 (the latest year for which data are available) at the http://www.usta.com/About...Read More
Water Fountains in NYC
We drank out of this water fountain at Riverside Park. Photo by Kelly Ernst/NYCEDC
Summer officially arrived in the City on June 20, marked by high temperatures and lots of sun. While this time of year is great for outdoor activities, the heat and sunshine may put New Yorkers at risk for dehydration more so than any other time of the year. In 2011, the New York City Water Supply System provided about one billion gallons of drinking water per day to more than eight million residents in the City. At the height of this summer’s activities, it’s important for parched New Yorkers to know just where they can find water.
Using data...Read More