East Harlem’s economy soaring as private sector jobs hit record high, state controller says

Ken Lovett

New York Daily News

Dec 21, 2017

East Harlem’s economy the past decade has been booming, state Controller Thomas DiNapoli said in a report released Thursday.

The area, which remains “a center of Puerto Rican and Hispanic culture,” has seen private sector employment reach a record high while the number of businesses grew by 37%, the report found.

“East Harlem has undergone robust economic growth,” DiNapoli said. “This growth has sparked business and job creation, and has attracted new residents to this increasingly diverse neighborhood.”

DiNapoli found there were 1,750 businesses in East Harlem in 2016, with medical facilities, including Mount Sinai Hospital, representing the largest employment sector.

Most of the other employers were small businesses that have fewer than five employees.

DiNapoli said East Harlem’s population grew by 14% since 2010 and the private sector average salary of $71,700 grew 51% over the past decade — far surpassing the 16% citywide average.

More than eight in 10 East Harlem residents work elsewhere in Manhattan, while just 6% work in their local community.

But there is also reason for concern as the success has left long-term residents with limited means — particularly seniors — struggling, DiNapoli said.

Violent crime fell by nearly a third, and major felonies by about 25%, between 2000 and 2016, but crime remains a major neighborhood concern, he said.