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Times Square rolling in cash

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Times Square feeds about $55 billion a year into New York City’s economy, according to a study conducted by the Times Square Alliance. The study found that the Crossroads of the World indirectly generates another $35 billion in revenue a year. “Times Square is not just one of New York City’s most popular destinations; it in essence represents its own distinct and powerful economy within the city, pumping tens of billions of dollars into the local economy,” said Tim Tompkins, the alliance’s president. “In this way, Times Square is a vital organ to New York City, a critical element in the city’s financial landscape.” more [AP via AMNY]

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