Economic Recovery News

Long Island City: NYC's Post-COVID Comeback Leader

Long Island City in Queens, New York, is leading the post-COVID economic recovery of New York City, challenging the notion that Manhattan's business districts are the sole indicators of the city's strength. While foot traffic in Manhattan remains down, Long Island City has seen a 5% increase in foot traffic and a 35% jump in retail spending. The neighborhood's mixed-use zoning and ample vacant land have attracted residential and commercial development, with thousands of new residential units, retail spaces, and hotels under construction. Other emerging employment hubs in the outerboroughs were also identified in a recent report.