The Museum of Modern Art generated $2 billion in economic activity in the three years following its reopening in 2004. These results come from a study conducted by ARA that estimated the Museum would contribute $50 million in tax revenues for New York City and and $43 million for New York State.
Read MoreThe study, releasesd by the Museum on July 25, 2006, projected that from mid-2004 to mid-2007, MoMA would support an annual average of 4,252 full-time jobs in New York City through its own institional spending combined with the expenditures of the proportion of its visitors whose primary reason for being in New York City was to visit the Museum.
In 1998, ARA had conducted an economic impact study to estimate the impact of the proposed expansion. The New York Times reported that, based on figures from the study conducted by ARA, MoMA received $65 million from the City’s capital budget, which represented about 10 percent of its $650 capital campaign.