3/25/2019 - Impact of MTA Capital Plan
CHAMBER POINTS TO NORTH COUNTRY IMPACT OF MTA CAPITAL PLAN FOR NEW YORK CITY - -
The North Country Chamber of Commerce is welcoming the release of a study by Ernst & Young documenting the statewide economic impact of major capital investments in the New York City transit systems, including a significant positive impact on the North Country. The study was released by the Partnership for New York City and analyses the Metropolitan Transportation Authority's proposed 2020-2024 $44 billion Capital Investment Strategy.
"The production of 21st century transit equipment, both rail and road, is a major part of the business the North Country is in," states Garry Douglas, President of the North Country Chamber of Commerce. "There are now more than fifty transportation equipment manufacturers in our region employing some 9,000 people, ready to meet the equipment needs of transit authorities and customers across the country and internationally. Many of our area component makers are supplying not only our main companies such as Nova Bus and Bombardier but other major producers elsewhere as well. This sector depends on contracts to compete for which is why our regional representatives in Washington and Albany understand that capital investments by such major equipment customers as the MTA are essential to the North Country."
The Ernest and Young study shows that the proposed five year capital strategy for the MTA would directly generate $62 billion of statewide economic impact supporting an estimated 57,400 jobs, with one in four of the projected jobs being generated outside of New York City. The report estimates an $80 million direct impact on the North Country with $46 million in labor income. Douglas calls the regional estimates "substantial but actually conservative given the actual size of our transportation equipment cluster and all of its connections and capacity. But the bottom line is that capital investments in the MTA, as well as in other state transit authorities, come upstate and certainly to the North Country which is why our State Legislators have historically supported MTA capital funding."
The North Country Chamber of Commerce is the largest business and economic development organization in northern New York, linking more then 4,000 employers across Clinton, Essex, Franklin, Hamilton and northern Warren Counties and Akwesasne. It is also home of the North American Center of Excellence for Transportation Equipment, serving the North Country's growing cluster of transportation equipment companies.