Bloomberg.com: The High Line = Good Economics

The High Line last fall, as landscaping crews began plantingThe High Line last fall, as landscaping crews began planting
 

All eyes were on our nation's capital today as President Obama signed the stimulus bill (or, properly, the American Recovery and Reinvestment Act) into law. Before the $787 billion economic recovery package was finally approved, debate raged over how the funds should be distributed.

On that note, James S. Russell, Bloomberg's architecture critic, argued a point we couldn't agree with more: "If you want bang for taxpayer's buck, build parks and fund the arts."

His recently published article on Bloomberg.com asserts that the arts spur economic development, citing the High Line as a prime example: "From an economic standpoint, starving the arts is suicidal. Consider the case of the High Line, the park in the Meatpacking District. The City of New York invested $170 million in the project, which directly inspired as many as 50 major residential projects worth as much as $5 billion."

Click here to read the full article on Bloomberg.com.

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