Maloney: 2nd Ave Subway Construction Has Bright Side

Yesterday, Representative Carolyn Maloney released a report detailing how construction for the Second Avenue Subway, as well as the East Side Access plan, have helped out the economy. According to the findings, the Second Ave Subway has created 16,00 jobs, generated $842 million in wages, and produced $2.87 billion in economic activity, while East Side Access has created 22,000 jobs, generated $1.176 billion in wages, and produced $4 billion in economic activity. And by the endShe said, “The stock market may be slumping, but these two transit megaprojects are delivering a very healthy return on the federal and state investments in them... While these projects won’t cure everything that ails our economy, they are a huge help in getting us back on track.” Read the report (PDF). Last month, NY1 focused on 2nd Avenue businesses that have taken a hit since the dig—Second Avenue Business Association says, "Within the first six months of the construction process commencing, business declined between 15 and 20 percent."

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By Jen Chung in News on February 4, 2009 4:35 PM

Comments [rss]

KiljoyWasHere

"16,00"?

Think2wice

Here's hoping the MTA can get the Q train to new 72nd Street station at least.

EastRiver

How can something not yet finished have "very healthy returns"?

Not Your Sweetie

I hope I get to use it in my lifetime

longacre

Maybe, if you're 3.

nice job

Good, now KEEP DIGGING!

djwerdna

perfect example of why the US needs to invest in infrastructure

Bottomless Chips

Why?

Because it created "economic activity?"

That's not even a real, measurable term. If city hired people to paint things white, and then paint them black wouldn't that create economic activity, too? I mean you'd be paying these people and they would buy lunch and take taxis and buy staples at bodegas?

It's not the creation of anything other a newly painted building. Yes, that's not a bad thing. Yes, potholes will be fixed.

BUT: For every dollar the government uses to hire someone, it has to come from someone else. The federal government is broke. The MTA is insolvent, too. The money is going to come from a new tax, inflation (if federal), or a muni bond. All that does is: steal, steal through inflation, or deny credit to a productive business.

But hope! Change! Hope!