Valuing Central Park's Contributions to New York City's ... - Appleseed

20
Outside New York State
22 employees
7%
Rest of New York State
127 employees
39%
New York City
179 employees
54%
Fig. 2. Central Park Conservancy employees by
location of residence, Winter 2006
Outside NY State
$7,923,510
46%
Rest of NY State
$2,608,340
15%
New York City
$6,706,381
39%
Fig. 3. Central Park Conservancy purchases by
location of vendor, FY 2007
year 2006 totaled $14.7 million. Of the Conservancy’s 328 employees, 54 percent lived within New
York City; and 40 percent lived elsewhere in New York State. The distribution of Conservancy
employees by place of residence is shown in Figure 2.
Purchasing and construction
In addition to its role as an employer, the Conservancy contributes to New York City’s economy
through its purchases of goods and services. During fiscal year 2007, the Conservancy purchased
$17.2 million worth of goods and services. Of this amount, $6.7 million was paid to businesses
located in New York City, and $2.6 million to businesses located elsewhere in New York State.
Overall, we estimate that the $6.7 million paid to New York City businesses directly supported
46 full-time equivalent jobs. Table 1 lists categories in which the Conservancy spent more than
$300,000 on purchases from New York City vendors during fiscal year 2007.
The Central Park Conservancy also spent $8.1 million on construction and renovation projects during
fiscal year 2007. Major projects completed or under way during the year included:
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Renovation of the Heckscher Ballfields and the Heckscher Playground building;
Restoration of shoreline areas along the Lake;
Restoration and renovation work at Bethesda Terrace; and
Major capital improvements at the Ancient (East 84th Street), West 100th Street and West 110th
Street playgrounds.
More than 80 percent of the $8.1 million the Conservancy spent on construction in fiscal year 2007
– or $6.5 million – was paid to firms located in New York City. We estimate this spending directly
supported 21 full-time equivalent jobs with New York City contractors.
While the Conservancy’s construction spending each year provides opportunities for local contractors
and their employees, in the long run the real value of the Conservancy’s investments is their
cumulative impact on the preservation and continuing improvement of the Park. Since its founding,
the Conservancy has spent $175 million on capital construction and renovation projects in the Park
– 57 percent of which was funded by private sources.