The industry accounts for almost 19% of the region's $800 billion economy and roughly 680,000 jobs, the study said.
Ad Tax Coalition
The Advertising Tax Coalition's economic impact study, which was released on the third day of Advertising Week in New York City, an event designed to increase the industry's profile, takes a broad view of the advertising business' effects. It accounts for direct spending on and jobs created by advertising, as well as spending by direct and third-tier suppliers.
Sales and suppliers
The projected impact of $151 billion includes spending on advertising by New York City businesses, its impact on sales and the impact on direct and indirect suppliers.
The study was conducted by the economic and financial research firm Global Insight. The coalition is comprised of groups that include the Association of National Advertisers, the American Advertising Federation and others.