Estimated read time: 1-2 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
UNITED NATIONS (AP) — The New York mayor's office is touting the benefits of hosting the United Nations headquarters with a new report examining the world body's economic impact on the city.
Penny Abeywardena, NYC Commissioner for International Affairs, said Tuesday that the U.N. Community generated $3.69 billion in total economic output resulting in approximately $56 million in net fiscal benefits to the city.
"While the U.N. is much more than the sum of its economic impact, this study is an important reminder of the very real and tangible benefits the U.N. community makes in our global city," Abeywardena said.
Approximately 25,000 full- and part-time jobs are created by the U.N., which directly employs 16,000 people, she said.
The report estimates that the U.N. community generates a total of $110 million in fiscal revenue and costs the city some $54 million including costs for security and schooling, leaving some $56 million in revenue.
Peter Yeo, President of the Better World Campaign and the Vice President of Public Policy and Advocacy at the United Nations Foundation, said that the U.N.'s impact is felt beyond New York City with over a billion dollars in contracts being awarded to U.S. companies in more than 30 states over past two years.
"The positive economic impact of hosting the United Nations is like hosting seven Super Bowls a year in this city," Yeo said.
He said the report was especially timely as it could help the incoming U.S. administration to better understand the U.N.'s importance.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
