Healthcare and Nonprofits Employ 1 in 7 Private Sector Workers in Lower Manhattan

Healthcare and Nonprofits Employ 1 in 7 Private Sector Workers in Lower Manhattan

Today, there are more than 1,000 nonprofit and healthcare companies in Lower Manhattan including some of the most well known names such as NewYork-Presbyterian Lower Manhattan Hospital (the only major hospital in Manhattan south of 14th Street) and American Civil Liberties Union, according to the Alliance for Downtown New York's Healthcare and Nonprofits in Lower Manhattan report.  

Since the 2008 recession, healthcare and nonprofit companies relocating to the district have taken 1.6M square feet of space and accounted for 35 percent of new private sector jobs.  Today, one in seven Lower Manhattan private sector employees work in either the healthcare or nonprofit sector.

"Lower Manhattan has become a magnet for healthcare companies and nonprofits, said Jessica Lappin," said Jessica Lappin, President, Downtown Alliance.  "Being here offers more affordable space with unparalleled access to public transportation as well as close proximity to key partners, government offices and potential funders."

The report also points out that Lower Manhattan is home to three of the ten most generous public companies in the Fortune 500: Goldman Sachs (headquartered at 200 West Street), Bank of America (headquartered in Midtown with offices in 225 Liberty Street), and Citigroup (headquartered at 390 Greenwich Street). The neighborhood is also home to a number of major companies with notable charitable arms including American Express, Assurant, Moody’s Corporation, New York Mercantile Exchange, The New York Stock Exchange, Bank of New York Mellon and Verizon, among others.

Click here to read the full report.