Maloney asks about city tax revenue return on $90M investment
Maloney asks what city tax revenue the $2 billion economic impact generated, noting the city investment was roughly $90 million. Maya Honda says the event stretched across agencies, government levels, and fiscal years, and the city is still evaluating costs and projected tax revenue.
So all up, I guess, what do you expect the city tax revenue generated by that $2 billion economic impact to be?
And as a refresher, while we're talking about that, the city investment was roughly $90 million, I believe.
So just trying to get at what the return was if we got our money back, so to say.
Absolutely.
So this was an event that stretched across multiple agencies, multiple levels of government, and multiple fiscal years.
So we're still evaluating both the total cost of the event as well as the projected tax revenue.
What we do know from today's analysis is that the World Cup brought around $2 billion to New York City's economy, supported 12,000 jobs, and reached across all five boroughs.