New York

The 'Ports of Tomorrow ' event was carried out in partnership with the Port Authority of New York and New Jersey and the Regional Plan Association.

The total economic impact from the almost 292 million tourists visiting the Empire State last year was roughly $123 billion.

"Coupling the costs of a national crisis that has fallen onto New York City with COVID funding that is running out and reduced revenue growth, our city's financial future may be at risk if we do not act," Mayor Eric Adams said.

In the first half of the year, private-sector jobs in the Big Apple surpassed pre-pandemic levels as payroll gains outperformed the national growth rate. However, Mayor Adams says there is one big problem that "will destroy New York City."

Despite this, August saw the largest monthly volume of 2023, helped by several billion-dollar deals and multiple Texas school district deals.

The Port Authority of New York and New Jersey will bring affirmations of its AA-minus level ratings to its next bond deal, a refunding expected in September.

"The improved rating outlooks are critical for the Power Authority to ensure that we can continue leveraging the capital markets," said NYPA President and CEO Justin E. Driscoll.

New York deals dominated the top ranks of regional issuers in the first half of 2023 even as supply sank around the Northeast and around the country.

For the three-month period ending June 30, the fund's investments returned about 3.08%.

Despite looming economic and social challenges, New York City's economy has proven to be more resilient than projected, New York's comptrollers Brad Lander and Thomas DiNapoli say.