Council Member Morano credits administration but asks where money went
Frank Morano says he is often critical of the administration but credits it for capturing $2 billion despite no matches in New York City. He asks how much of that $2 billion actually went to independently owned New York City small businesses.
I wasn't going to rush you.
I thought you were great.
Thank you, Chair.
Thank you all for your testimony and for your work.
You know, I am the first person to be critical of the administration when warranted.
So I do think it's important for me to say, and for all of us, that the administration deserves a great deal of credit here.
The New York City didn't host a single World Cup match, yet according to the preliminary analysis released today, the city captured $2 billion in economic impact.
That's pretty significant.
So congratulations to all of you for that.
But while we have all of you here, all the people that made that happen, I'd like to get beyond the big number and kind of follow up with what some of my colleagues were touching upon, and that's where the money actually went.
So that headline is $2 billion in economic impact, and I appreciate, Mr.
Kramer, the differentiation.
between indirect activity and other types of economic activity.
If I'm a restaurant owner on Highland Boulevard, I can't necessarily deposit economic impact at the bank.
Of that $2 billion,
How much can we say actually went to independently owned New York City small businesses, not hotels generally, not induced economic activity, not national chains?
Do we know how many dollars actually went through the cash registers of New York City small businesses?