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MTA’s Capital Plan Could Pump $60B into State’s Economy
The Metropolitan Transportation Authority’s capital investment strategy for 2020-2024 is projected to generate $60 billion in statewide economic output on the $44 billion MTA plans to spend. That’s the top-line conclusion of a report prepared by EY and issued Monday by the Partnership for New York City (PFNYC).
“This analysis demonstrates the tremendous return that will be realized statewide as a result of adequately funding the MTA capital program,” said Kathryn Wylde, president & CEO of the PFNYC, which commissioned the study.
The capital investment strategy is expected to include major purchases of key equipment from manufacturers in New York, and will rely on the expertise and services of New York-based construction and engineering firms, PFNYC says.
Lawmakers and civic leaders lauded the MTA’s capital plan. “When New York invests in our infrastructure, we invest in our people,” said Gary LaBarbera, president, Building and Construction Trades Council of Greater New York.
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