In its first month, Lower Manhattan's economy has seen a substantial boost of nearly $1 billion due to congestion pricing, according to MTA reports. Retail sales in the area rose by $900 million compared to last year, while restaurant reservations increased by 7%. MTA Chairman Janno Lieber highlighted that predictions of economic downturn due to congestion pricing have been unfounded, with notable increases in public transit usage. Subway ridership in the congestion zone reached 75% of pre-pandemic levels, demonstrating a robust recovery and positive economic impact within the pricing zone.
For all of the Chicken Littles out there, the economy in the congestion zone has been humming.
And now we're showing positive signs for the economy and that means prosperity for everybody.
Roughly 2.8 million fewer cars have entered the congestion relief zone since the toll began.
Subway ridership at the stations in the congestion relief zone was at 75 percent of pre-pandemic ridership in January.
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