Coney Island, Brighton Beach See Economic Boom
NEW YORK (CBSNewYork/AP) -- What recession?
A state report finds that Coney Island and Brighton Beach communities are bouncing back quickly from the economic downturn.
Comptroller Thomas P. DiNapoli says the areas' businesses are growing, home prices are rebounding and beaches are attracting more people.
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Businesses in the area are hiring like nowhere else in the city and job growth is double the rate than the rest of Brooklyn.
In 2010, the area gained 27,530 private-sector jobs in such areas as transportation, education, retail and health care. That's a 7.1 percent gain, compared to just 0.9 percent for the rest of New York City.
From 2000 to 2008, the number of businesses in the area grew by 21.4 percent, compared to 5.5 percent for the rest of the city.
Pamela Harris, who runs a youth organization and has lived in the area her whole life, says she has noticed the progress.
"There are more jobs, finally," Harris said. "I'm also a homeowner so I've seen the growth in my property value."
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"What I see among the year-round residents is that there's hope, they see things coming, they see attention to the community," Judy Orlando, who heads a development group, said.
Coney Island and Brighton Beach have the seventh-highest concentration of immigrants in New York City.
DiNapoli says more than 50 countries are represented in the area, including a large population from Ukraine and Russia.
The city's renewal plan for the Coney Island amusement district is contributing to the boom.
The opening in 2010 of Luna Park created nearly 240 jobs. And this summer another 400 jobs were created by the new thrill ride Scream Zone and other boardwalk attractions.
"Six Flags, Dorney Park, fuhgeddaboudit," Borough President Marty Markowitz said. "Coney Island is the original."
Eddie Mark, with the local community board, also credits infrastructure investments like a subway station overhaul.
The area's largest employer is the health care sector.
How's the economy in your neighborhood? Let us know below...
(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
