J JOYCE PURNICK/Metro Matters
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%s, New York Will Prosper Again, but It Needs More Than O
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I HE mayor says New York City will sure of where anything is right now,” Mr.
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o be better than ever. And some day Schumer said.
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cn it surely will be, because New York Neither is New York City. Although it is Repairing New York Moral Support CT
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ro never stays down for the count — never. planning the remarkable reopening of the
But before the city and the region recover stock market today, it cannot confidently will be costly in more "0
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from last week’s terrorist assault, they are predict its income and does not know how 03
destined to go through a tough time. much adrenaline it will get from the $20 ways than one. be an enormous economic jolt,” said Ms. O
Terrorism not only seeds pain and cha billion in federal money for New York that Townsend, now publisher of Crain’s New o
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os, it spreads fear, paralyzes ordinary life Mr. Schumer and Senator Hillary Rodham York Business. c
and business. Though New York’s leaders, Clinton got from President Bush (and an 3
years after the stock market’s downturn in “The mayor, 1 suspect, will have to look o
intent on building confidence, don’t want to other $20 billion for security nationwide). 1987, when offices went begging for tenants for cuts everywhere,” she said, but on re
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talk about it in detail yet, the city’s econ Officials are fighting to keep businesses and there were more taxis than passen flection predicted that the cuts would be
omy is shaky after a period of prosperity from fleeing the city or to lure them back. gers. concentrated because the city cannot pos
so long that young people never knew And that, too, will cost money. The city The country i.s supportive, but moral sibly touch police, fire and sanitation serv
tough times, cannot imagine a city that is cannot possibly raise taxes, or predict the support will not make people want to re ices now. Some city officials predict a
fearful, that is not forever shining like the psychological impact of the attacks. “The
lights of Times Square. city is not perceived as safe,” said one build or set up shop in New York or help a budget deficit growing to as much as $5 bil
“My daughter is a little metaphor,” Sen elected official who would not speak for at small business without the resources of a lion over the next few months.
ator Charles E. Schumer said yesterday. tribution because he feared sounding “like multinational company to find new offices. There are optimistic developments, too.
“She’s been going to this beautiful school, adoomsayer.” Nor will it make up for lost revenues, cost Carl Weisbrod, president of the Alliance
Stuyvesant. Everything’s been great.” But Public officials and economists are qui ly needs or understandable fears — espe for Downtown New York, pointed out yes
the high school, not far from the site of the etly saying that no matter how spectacu cially since Mr. Giuliani, his staff and most terday that a few businesses forced to relo
suicide attacks, is now part of the rescue larly Mayor Rudolph W. Giuliani rallies of the rest of city government leave in cate had found space and are buying new
effort, and its students have to commute to New York — and the mayor has earned the three months because of term limits. equipment and furniture. “And if there is a
Brooklyn Technical High School. "She’s respect of even his harshest critics — the The timing even fueled a buzz about hav ray of sunshine, the city is not the enemy of
not sure where her records are, she’s not city is in for a period as had as the shaky ing the State Legislature find a way to ex- the rest of the country any more,” he said.
That might help, that and the long view.
tend Mr. Giuliani’s term, but since that Enzo Panebianco, a hansom cabby since
would give terrorists the power to upset a the late 197O’s, Is not worried. “There are
democratic election, the idea has seemed good times and there are bad in New
to fade. That leaves two mayors — this one York.” he said yesterday in Central Park.
and the next — to help New Yorkers come “It will be O.K. People want to forget.”
back from unspeakable heartache, and to
rebuild more than the physical city.
HE numbers are daunting.
There were at least 50,000 jobs in
qlnloi the World Trade Center complex
alone, and as many as 50,000 additional
jobs in surrounding buildings. Workers in
related businesses are affected, too, for
now*— accountants and lawyers who
worked for the financial companies in the
trade center complex, restaurant workers,
taxi drivers.
Revenues from personal income taxes,
real estate and other business taxes will in
evitably drop. So will the economic bene
fits of jobs lost throughout the region as the
airlines industry cuts back — and income
lost from fewer tourists.
Alair A. Townsend, a former city budget
director, is concerned. “I think there will
OCR can misread numbers and units. Confirm readings against the page image before using them.