Congresswoman Carolyn Maloney (my rep by the way), with all the talk of economic stimulus via infrastructure bouncing off the halls of Congress, has decided to get in the game. The massive project underway in her district is none other than the infamous 2nd Ave. subway and guess what, it needs money. Maloney took the time to spout off some facts about how it helps the local economy, but forgets about how it hurts in the short-term.
From The Gothamist:
Yesterday, Representative Carolyn Maloney released a report detailing how construction for the Second Avenue Subway, as well as the East Side Access plan, have helped out the economy. According to the findings, the Second Ave Subway has created 16,00 jobs, generated $842 million in wages, and produced $2.87 billion in economic activity, while East Side Access has created 22,000 jobs, generated $1.176 billion in wages, and produced $4 billion in economic activity. And by the endShe said, “The stock market may be slumping, but these two transit megaprojects are delivering a very healthy return on the federal and state investments in them... While these projects won’t cure everything that ails our economy, they are a huge help in getting us back on track.” Read the report (PDF). Last month, NY1 focused on 2nd Avenue businesses that have taken a hit since the dig—Second Avenue Business Association says, "Within the first six months of the construction process commencing, business declined between 15 and 20 percent."The jobs and wages are great, the impact on local businesses is not so great, but the long-term impact of having a second subway line on the eastside is essential for NYC. Back when the project was initially started in 1929, the city was so eager for it that they tore down the El lines in anticipation of the underground route. Of course as we know now, eighty years later and we still do not have a working T train. So basically I feel for those suffering businesses, but then again thinking long-term is key here.
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