The NYCEDC Economic Research & Analysis group just release its Neighborhood Trends and Insights report this July. Every issue, the Economic Research & Analysis group selects and highlights a local community within New York City that greatly contributes to the city’s economy and is showing signs of economic growth. This month’s focus was the NYC food industry in Hunts Point and Longwood, neighborhoods of the South Bronx.
In 2012, there were 1,901 businesses establishments in Hunts Point and Longwood, a significant 16.2% increase from 1,636 businesses in 2002. Retail trade was the top sector with 466, and other top establishments in the area include wholesale trade (specifically food wholesale), and health care and social assistance. The neighborhoodhas also shown dramatic increases in business development through their information sector, which increased by 85.7%, and their educational services which grew 108.3% from 12 to 25 establishments.
As mentioned before, Hunts Point’s wholesale trade is mainly comprised of the food industry. The Hunts Point markets is the central hub of food distribution in the New York City, supplying about 50% of the City’s meat and seafood, as well as 60% of its produce. Hunts Point hosts 209 food and beverage wholesale and manufacturing establishments, and the area’s close proximity to the NYC Food Distribution Center makes it the ideal location to position this business sector.
