#United States #New York #Greater New York Automobile Dealers Association #economic impact report #Metro New York dealers

The Greater New York Automobile Dealers Association (GNYADA) has recently published its 2024 Economic Impact Report, shedding light on the essential contributions of franchised new car and truck dealerships in the Metropolitan New York area. The report highlights the importance of these dealerships not just as retail outlets for vehicles, but as vital components of the local economy that foster job creation, generate substantial tax revenue, and contribute significantly to various community initiatives.

In his statement, Mark Schienberg, President of GNYADA, articulated the broader role auto dealers play in their communities: "Metro New York's auto dealers are more than car dealers; they are an integral part of the communities they serve, supporting local economies, creating jobs, and making meaningful contributions to a wide range of charitable causes." This sentiment underscores the notion that the automobile industry transcends the sales floor, reaching into the heart of the community and impacting numerous lives across the region.

Key Economic Highlights

The report outlines several significant findings regarding the economic impact of local dealerships:

• - Job Creation: There are approximately 67,300 jobs supported by local franchised dealerships in the region. This includes 37,200 direct jobs and an additional 30,100 indirect jobs, showcasing the extensive employment opportunities that the sector creates.
• - Payroll Impact: Collectively, these employees earn an impressive total of $6.3 billion annually, reflecting the substantial payroll that contributes to the local economy.
• - Tax Contributions: The dealerships generate $2.9 billion in state and local taxes, which play a crucial role in funding essential public services such as education, infrastructure, and healthcare.
• - Overall Economic Activity: The total economic impact from these franchised dealerships reaches a staggering $67.6 billion, emphasizing their pivotal role in the economic landscape of Metro New York.

Community Involvement

Beyond their economic contributions, local dealerships are also heavily involved in philanthropic efforts. They participate actively in charitable giving, supporting various organizations and initiatives aimed at benefiting the community. Schienberg further stated, "Their impact extends far beyond the showroom, touching countless lives across the region."

GNYADA represents 445 franchised dealerships across the New York metropolitan area, collectively generating significant vehicle sales and tax revenue while supporting over 67,000 jobs in the region. Established in 1910, GNYADA has been dedicated to advancing the interests of the automotive industry and the communities it serves. Additionally, the association is known for organizing the New York International Automobile Show, the largest auto show in North America, held annually at the Jacob Javits Convention Center in Manhattan.

For more detailed insights on the contributions and economic implications of local dealerships in Metro New York, interested parties can visit GNYADA's website. This report not only serves as an informative resource about the automotive industry’s local impact but also emphasizes the interconnectedness of business success and community welfare in New York State.