The Nightlife Economy | New York City

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The Nightlife Economy as Nexus to Regional
Development New York City a Case Study
Paper Proposal   Jesse Keyes Princeton
University  
Redevelopment of CBGB basement, 2010
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Introduction
The Nightlife Economy as Nexus to Regional
Development New York City a Case Study
No serious study on the size of the nightlife
economy and its role in New York regional
development Policy planning has had a
continuous and contentious history with respect
to nightlife establishments Hypothesis
Nightlife and its financial service investors is
a major underwriter to the development of the
cultural economy via the high pay it delivers
nightlife workers
Bartenders earning at the Boom Boom Room, 2012
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Size
This Study Aims to Develop Economic Understanding
of Nightlife Nightlife Plays a Big Role
While the New York City economy (and population)
flagged in the 70s and 80s, Nightlife continued
to grow (1) 100,000 Jobs (2) 400M in taxes
paid Definition Open only after 5PM and/or
establishments where a substantial portion of
revenue derive from alcohol and alcohol related
sales
9.6B
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NYC Population (1M)
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NYC Nightlife Size (1B)
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1900
1930
1960
2000
US Census and New York Nightlife Association
Why did Nightlife industry to continue to grow
while other economic activities waned?
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Nightlife source capital to arts
While a Continued Departure of Headquarters and
Manufacturing, Financial Services Stays and Grows
in New York city
Financial services and key source capital for
nightlife industry? Have increased prices of
nightlife products (food and alcohol) benefit
employees commensurately? Bohemians invest
heavily in cultivating and nurturing their own
creativity. (1)
Keith McNally behind Pastis, Balthazar, etc. with
two financial services backers
Financial services leads to development of human
capital through nightlife
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Place and network
The Nightlife Economy as Nexus to Regional
Development New York City a Case Study
Network Artistic networks, often enhanced
by new spaces for working and gathering, are
helping to spread entrepreneurial ideas and
practices both within and outside regions.
(Markusen and King, 3)
Place Place is the key economic and social
organizing unit of our time. It is place that
solves the chicken-and-egg problem, matching
people and jobs jobs and peoplePlaces provide
the ecosystems that harness human creativity and
turn it into economic value. (Florida, xix)
Nightlife as place for developing artistic
networks
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Relevance
Nightlife as Place for Formation of Cultural
Economy
The Creative Economy of the U.S. has grown
powerful and pervasive because it is supported by
a formidable infrastructureundergirded by a new
set of institutions that have emerged to do just
this. (florida) Nightlife provides both a
specific place and means of capital support for
the development of the artistic human
capital There is no reason why service sector
work has to be rote work and no reason why it
should not be compensated highly. Nightlife can
tender highly paid, highly stimulating service
sector work.
Bartenders earning at the Boom Boom Room, 2012
Perhaps, nightlife venues should join the list of
spaces accepted by communities and cities where
artistic networks come to flourish and push
progressive agendas
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