NYC-WT
3
PRELIMINARY
Setting the Baseline
Framework to Develop Strategy for Revitalizing the NYC Economy
TBD
TBD
Description
Direct costs
Actual losses
incurred:
• Human
• Property
Approach
Use insurance
claim
estimates as
proxy
Indirect costs
Negative impact on
output, spending, and
productivity
• Decrease in
tourism,
and retail
spending
• Short-term
productivity impact
from work stoppage
and talent/data loss
Quantify revenue
losses by industry
using previous disaster
comparables as input
baseline
Secondary effects
Impact of event on
long-term GDP
growth rates
• Business
confidence
shaken
resulting in
business
migration from
city:
• Softening real
estate value
Estimate percentage
decline in GDP due
to WTC disaster
long-term effect
Total
Revitalize and
stimulate the
NYC economy by
focusing on
industries that
bear the greatest
indirect costs
NYC 9/11 Public Portal Document
OCR can misread numbers and units. Confirm readings against the page image before using them.
NYC-WTC_000136396Source: NYC Law Department, mirrored locally
Comprehensive FAQ addressing downtown building access, reopening areas, property manager contact procedures, and building damage status in lower Manhattan.