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Brooklyn ranks first in New York counties with more investments in the local economy

Brooklyn Paper
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The county of Kings ranked first in a recently released study by SmartAsset.com on the greatest number of investments in New York county’s local economies.

The study scored each New York county on their growth in four categories: local businesses, GDP (Gross Domestic Product), building permits and federal funds received per capita. Taking all four of these factors into consideration, the study combined the scores of every county and created a final ranking for each county.

King’s County ranked first, having the highest percentage of business growth (8.3 percent), and the highest total in the incoming investment index category (48.10).

Regarding investment and development in the local residential real estate market, the study found that King’s County had 5.9 new building permits for every 1,000 homes and that the county was receiving $77 per capita in federal funding.

Of the other New York City counties included in the study, Bronx, Queens, and New York County followed suit in second, third, and fourth place, respectively.

Reach deputy editor Ruth Brown at rbrown@cnglocal.com or by calling (718) 260–8309. Follow her at twitter.com/rbbrown.
Updated 1:18 pm, June 10, 2019
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