First issue of 'The Downtown Report' out.The Alliance for Downtown New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of has released the first edition of The Downtown Report, which will be issued periodically to detail economic and business conditions in Lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North . The initial Downtown Report emphasizes the need to attract and retain companies Downtown. "Economic conditions in Lower Manhattan affect the entire region," said Shirley Jaffe Shirley Jaffe, abstract painter and sculptor, was born in New Jersey, USA, in 1925 and educated at Cooper Union in New York City. She moved to Paris in 1949 as a young painter and has carried on her career primarily in France, although she returns regularly to the United States , vice president of economic development for the Downtown Alliance. "The Downtown Report provides an up-to-date perspective on these conditions to help shape the dialogue on Lower Manhattan's future." The first Downtown Report includes feature articles covering economic trends affecting Lower Manhattan and the need for enhanced transportation. The report also offers a host of market indicators on housing and commercial occupancy rates, subway ridership, visitor statistics and hotel occupancy Noun 1. hotel occupancy - occupancy rate for hotels occupancy rate - the percentage of all rental units (as in hotels) are occupied or rented at a given time rates. In addition, the report explores Lower Manhattan's impact on the regional economy. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the report, prior to Sept. 11, 2001, the financial, insurance and real estate sector, or FIRE, in Lower Manhattan generated 26% of the city's $440 billion in economic output, 14% of the city's tax revenue, and accounted for $20 billion in salaries and 190,000 jobs. Immediately following the terrorist attacks, only 9% of the 50 largest commercial tenants in and around the World Trade Center remained Downtown. More than a year later, 54% of those companies have returned--or committed to return--to Lower Manhattan. Unfortunately, according to a recent Downtown Alliance survey of Lower Manhattan commercial tenants, 45% are not sure that they will renew their leases, primarily due to transportation-related concerns. The impact of these lost leases will not be limited to Lower Manhattan. The FIRE sector does not just sustain Downtown New York, it is vital to the continued economic viability of Downtown Brooklyn Downtown Brooklyn is the third largest central business district in New York City (following Midtown Manhattan and Lower Manhattan), and is located in the , the outer boroughs and the New Jersey waterfront. The survey revealed that 25% of companies that do not intend to renew their current Downtown leases plan to leave New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. altogether, and 50% of Downtown companies that leased additional space outside of Lower Manhattan after Sept. 11 leased that additional space outside of New York State. |
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