As crews begin dismantling Olafur Eliasson's four arboricidal waterfall scaffolds, the mayor's office has released a report asserting that the economic impact of the installation was better than expected. When the waterfalls were turned on back in June, Bloomberg predicted the city would see some $55 million in revenue from the exhibition. A study commissioned by the city’s Economic Development Corporation says that the NYC Waterfalls generated an estimated $69 million for the city. According to City Room, that figure breaks down like so: more ›

Mayor Bloomberg and other city officials joined artist Olafur Eliasson and Susan K. Freedman of the Public Art Fund at a press conference this morning at the South Street Seaport, where all four of Eliasson's waterfalls can be seen at once. An aide to the mayor noted that there was more press attending this event than when he announced he was switching his party to become independent. more ›

Governor Paterson joined Mayor Bloomberg at Manhattan Community College this morning to kick off the 7th annual Tribeca Film Festival, which is expected to attract at least 500,000 visitors and $125 million. Paterson used the appearance to announced an expanded state film tax credit, intended to stop the loss of movie money “to our neighbors, like Canada, Connecticut and Massachusetts.” The governor’s office say these “neighbors” have cut into the state’s film revenue to the tune of $750 million. more ›