- Nationally, the apartment industry and its residents contributed $1.1 trillion to the economy in 2011, or more than $3 billion every day. This combined spending supported 25.4 million total jobs.
- Within the New York City metro area, the apartment industry spent $1.1 billion on new apartment construction, creating a total economic contribution of $2.1 billion supporting 16,000 local jobs.
- The apartment industry spent $9.4 billion operating the metro's 2.2 million apartment homes, generating a total economic contribution of $17.6 billion supporting 135,000 local jobs – more than eight times the impact of apartment construction.
- Within New York State, apartment construction contributed $1.8 billion to the state economy supporting 12,000 jobs in 2011.
- Operating the state's 2.2 million apartment homes created a total economic impact of $15.1 billion to New York State supporting 192,000 jobs.
- New York State's 4.4 million apartment residents spent $53.6 billion on goods and services within the state in 2011, creating a total economic impact of $112.5 billion supporting 2.9 million jobs.
- Neighboring state New Jersey received a $37.5 billion economic contribution supporting 881,000 total jobs from the combined apartment construction, operations and resident spending.
Study: Apartment Construction And Operations Contributed $19.8 Billion To New York City Economy
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