NYC 9/11 Public Portal Document
Economic Restitution for New York City and State
The destruction in lower Manhattan disrupted or eliminated revenue sources that support the
day-to-day functions of the City and the State. The financial services industry, which were most
directly and profoundly impacted by the attacks, is by far the most important industry to the State
and the City in terms of generating taxable incomes for both individuals and corporations, and is one
of the primary engines for the national economy.
The City and the State could experience revenue losses of as much as $12 billion -- $3 billion
for the City and $9 billion for the State -- during the next 18 months and both will require
unrestricted Federal aid to maintain vital public services. A combination of unrestricted aid in
conjunction with changes in Federal formula allocations that benefit the State, are options that
should also be considered.
It is the intent of the City and the State to maintain the level of vital public services that
existed prior to September 11th as required under State and City statutes, while also addressing the
extraordinary needs in the wake of the terrorist attacks.
NYS HOMELAND SECURITY EFFORTS — AT LEAST $100 MILLION:
As a result of the direct attacks on New York City and New York State, we must be fully
vigilant in the protection of the State's important facilities and infrastructure. Additional resources
will be required to protect New York's water supplies, sewers, transportation and communications
structures, utilities and other sensitive locations.
New York State has already acted to protect its facilities in the wake of the attacks and is
prepared to use the New York State Police, National Guard and Department of Correctional Services
Staff to assist in these homeland security activities. This personnel would be used in conjunction
with local security forces and would be deployed in both fixed posts and directed patrols. While a
full "New York Homeland Security Plan" is currently under development, current cost estimates are
expected to far exceed $100 million.
Please Note: Additional documents outlining the proposal are available on the internet at
www.state.ny.us/dob
NYC-WTC 000136686
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