ECONOMIC IMPACT OF NYS PARKS NOW RIVALS AGRICULTURE

New report finds every $1m invested in NYS parks results in $10m in sales

NEW YORK, Oct. 21, 2024 /PRNewswire/ -- A new report by Parks & Trails New York (PTNY), The Political Economy Research Institute (PERI), and The National Heritage Trust finds that the annual GDP of New York State Parks and Historic Sites amounted to $3.7 billion in 2021. This economic impact rivals the state's agricultural sector, which generated $3.3 billion the same year (U.S. Bureau of Economic Analysis).

The report, using data from Jan. 2021 through Dec. 2021, finds that 78 million park visits generated $5.8 billion in sales and $2.5 billion in labor income. This information proves the economic value of New York's State Park System and need for ongoing investment.

View the full report and news release: https://www.ptny.org/newsandmedia/e-news-1/2024/10/economic-impact-nys-parks-now-rivals-agriculture

"This report confirms what we at REI Co-op have long known to be true: Investing in our outdoor places and the ability for everyone to enjoy them is not just a necessity for our health and wellbeing, it serves as a powerful economic driver for communities of all kinds," said Alicia Harvie, Head of Community & Government Affairs at REI Co-op.

"We are so fortunate in Saratoga County to have three amazing State Parks, in Moreau, Waterford, and Saratoga Springs. Each of these parks helps us to attract visitors year-round to Saratoga County where they spend money and help our local businesses to succeed, grow, and thrive" said Todd Shimkus, President, Saratoga County Chamber of Commerce.

"PTNY's report demonstrates why policymakers and elected officials should invest in parks and trails across New York now more than ever. Parks like Walkway Over the Hudson not only generate jobs and business opportunity but also play a critical role in improving quality of life for our communities," said Lori Robertson, Executive Director, Walkway Over The Hudson.

Data was sourced from the Office of Parks, Recreation and Historic Preservation, I Love NY/Empire State Development, and comparable studies on the impact of tourism and outdoor recreation on localized economies. PERI utilized Input-Output Models via the IMPLAN service to provide a comprehensive overview of the economy.

Parks & Trails New York is the state's leading advocate for parks and trails, dedicated to improving our health, economy, and quality of life through the enjoyment of green space.

View original content:https://www.prnewswire.com/news-releases/economic-impact-of-nys-parks-now-rivals-agriculture-302281751.html

SOURCE Parks & Trails New York