New York City Economic Development Corporation
New York, NY · NTD ID 22930 · 2024 report year
New York City Economic Development Corporation carries 7.2 million passenger trips a year across two modes — ferryboat and bus — making it the 88th-busiest transit operator in the United States. It is based in New York, NY.
It spends $86.7 million a year running that service, or $12.04 per trip. Its ferryboat service, the largest of its modes, costs $11.98 per rider — 38% below the $19.42 median for the 39 US agencies reporting ferryboat.
Over the 10 years reported, ridership is 23% above its 2019 level, the last full year before the pandemic, and up 8% on 2023. Fares cover 27% of operating cost.
Service by mode, 2024
| Mode | Annual trips | Operating expense | Cost per rider | vs national median | Farebox | Vehicles |
|---|---|---|---|---|---|---|
| Ferryboat#3 of 39 nationally | 7,116,129 | $85.3 million | $11.98 | -38% | 27% | 26 |
| Bus#675 of 1,162 nationally | 88,228 | $1.4 million | $16.42 | +18% | — | 4 |
Ridership, 2015–2024
| Year | Annual trips | Operating expense (2024 $) | Cost per rider (2024 $) |
|---|---|---|---|
| 2024 | 7,204,357 | $86.7 million | $12.04 |
| 2023 | 6,687,168 | $72.3 million | $10.81 |
| 2022 | 5,454,172 | $69.0 million | $12.64 |
| 2021 | 3,843,892 | $55.5 million | $14.43 |
| 2020 | 5,117,345 | $93.3 million | $18.23 |
| 2019 | 5,842,233 | $97.9 million | $16.75 |
| 2018 | 4,101,874 | $77.3 million | $18.83 |
| 2017 | 1,819,118 | $27.1 million | $14.92 |
| 2016 | 1,557,128 | $12.5 million | $8.04 |
| 2015 | 1,360,389 | $11.3 million | $8.31 |
Where New York City Economic Development Corporation ranks
- Highest-Ridership Ferry Systems #3 of 39
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These are the headline figures. Ask NTD answers the rest in plain English — by mode, by year, against any other agency.
Ask NTD about New York City Economic Development Corporation →Source & method. Figures are from the Federal Transit Administration's National Transit Database (NTD) annual reporting for 2024, the most recent published report year. Cost per rider is operating expense divided by unlinked passenger trips. Farebox recovery is fare revenue divided by operating expense. Ten-year trends are adjusted for inflation to 2024 dollars; single-year figures are as reported. Agencies self-report to the NTD, and reporting practice varies, so figures are best read as comparable in magnitude rather than to the cent.