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Document / 151 pages

World Trade Center records folder, 2001

Machine-extracted title · confidence 65%

Records folder index from Mayor's office covering World Trade Center administrative materials.

NYC-WTC_000136391–000136541

Folder label: “Folder 138

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Scanned page image, NYC-WTC_000136400
OCR text

OCR status: ok · source: pdftotext

NYC 9/11 Public Portal Document

Adopted Budget Forecast:

US GDP fell from 5% in 2000 to 1.7% in 2001

Corporate Profits fell from 12.5% growth in 2000 to a 6.1% decline in 2001

Securities Industry Profits fell from $21 billion in 2000 to $5.5 billion in 2001

Local Employment gains fell from nearly 100,000 in 2000 to 32,000 in 2001 and 7,400 in 2002

Wages fell 1.7% in FY2001, due primarily to declines in bonuses

Capital Gains Realizations fell 28% in 2001.

As a result of this forecast non-property taxes were forecast to fall $816 million below the FY2002 level (adjusted for tax law changes FY2002 was projected to fall $509 million below the FY2001 level, or 3.4%).

FY2001 FY2002 Non-property Taxes Before STAR & TFA $14,937 $14,121

The preliminary outlook which calls for steeper drops in GDP, corporate profits, jobs and capital gains could reduce revenue by another $1 billion.

NYC-WTC 000136400

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NYC-WTC_000136400Source: NYC Law Department, mirrored locally

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