Estimated Fiscal Impact of the Atlantic Yards Project on the New York City and New York State Treasuries by Andrew Zimbalist Robert A. Woods Professor of Economics Smith College Northampton, Ma. May 1, 2004



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Spreadsheet Detailing Fiscal Impact of the Commercial Buildings





$ in thousands













Annuity

2005 NPV

Aggregate

INCOME TAX










State

$4,726

$68,683

$176,252

City

$2,136

$31,050

$79,680

Total Income Tax

$6,862

$99,733

$255,932

After Application of Multiplier

$10,293

$149,600

$383,898













SALES TAX










NY State Sales Tax

$1,699

$24,690

$63,359

MTA Sales Tax

$100

$1,452

$3,727

NY City Sales Tax

$1,154

$16,775

$43,047

Total Sales Tax

$2,953

$42,917

$110,132

After Application of Multiplier

$4,429

$64,376

$165,199













TOTAL REVENUES FROM INCOME AND SALES TAXES

$14,723

$213,976

$549,096



$ in thousands

















































2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

INCOME TAX














































State

$0

$0

$1,445

$1,488

$3,063

$3,154

$4,854

$4,999

$5,149

$5,304

$5,463

$5,627

$5,796

$5,970

$6,149

City

$0

$0

$653

$673

$1,385

$1,426

$2,194

$2,260

$2,328

$2,398

$2,470

$2,544

$2,620

$2,699

$2,780

Total Income Tax

$0

$0

$2,098

$2,161

$4,447

$4,581

$7,048

$7,260

$7,477

$7,702

$7,933

$8,171

$8,416

$8,668

$8,928

After Application of Multiplier

$0

$0

$3,147

$3,241

$6,671

$6,871

$10,572

$10,890

$11,216

$11,553

$11,899

$12,256

$12,624

$13,003

$13,393

















































SALES TAX














































NY State Sales Tax

$0

$0

$519

$535

$1,101

$1,134

$1,745

$1,797

$1,851

$1,907

$1,964

$2,023

$2,083

$2,146

$2,210

MTA Sales Tax

$0

$0

$31

$31

$65

$67

$103

$106

$109

$112

$116

$119

$123

$126

$130

NY City Sales Tax

$0

$0

$353

$363

$748

$770

$1,185

$1,221

$1,258

$1,295

$1,334

$1,374

$1,416

$1,458

$1,502

Total Sales Tax

$0

$0

$903

$930

$1,914

$1,971

$3,033

$3,124

$3,218

$3,314

$3,414

$3,516

$3,622

$3,730

$3,842

After Application of Multiplier

$0

$0

$1,354

$1,395

$2,871

$2,957

$4,549

$4,686

$4,827

$4,971

$5,120

$5,274

$5,432

$5,595

$5,763

















































TOTAL REVENUES FROM INCOME AND SALES TAXES

$0

$0

$4,501

$4,636

$9,541

$9,827

$15,122

$15,576

$16,043

$16,524

$17,020

$17,530

$18,056

$18,598

$19,156
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