MTA’s Proposed Capital Plan Estimated to Generate $106B of Economic Output
The Partnership for New York City (PFNYC) recently released a report providing the potential impact of the Metropolitan Transportation Authority’s proposed 2025-2029 Capital Plan. The analysis prepared by Ernst & Young Infrastructure Advisors, LLC (EY) concluded that the economic impact from construction and other spending activities from the Capital Plan’s direct expenditure of $68.4 billion will generate an estimated $106 billion of statewide economic output over five years, which includes $61.5 billion of direct economic output from in-state spending. In addition, it is estimated the $37.9 billion in New York State total labor income will be generated as well as $57.7 billion in statewide GDP (value added). Over the five-year period of the Capital Plan, an average of 72,700 jobs will be supported, with the majority of the employment impacts occurring in the New York City, Long Island, and Hudson Valley regions.