Partnership on Comptroller’s Wall Street Report: Industry Generates over $15B in Tax Revenues

Today the Partnership released the following statement on the NYS Comptroller’s Wall Street Report.

“Once again, Comptroller DiNapoli’s Wall Street report demonstrates the critical contribution of the securities industry to New York state’s tax revenues,” said Kathryn Wylde, President and CEO of the Partnership for New York City. “In 2020, operating remotely, the industry generated $15.1 billion in state tax revenues and $3.9 billion in city tax revenues. While New York remains the leading global financial center, the steady decline in our share of U.S. securities jobs, including a loss of 3,600 jobs in 2020, is a great concern and could impact economic and fiscal recovery from COVID-19.”