NEW YORK (CBSNewYork) – New York is known for being “the city that never sleeps,” and a recent study found nightlife is a growing part of the city’s economy.

As a $35 billion business creating 299,000 jobs, it brings in $697 million in local tax revenue.

Ariel Palitz, the senior executive director of NYC’s Office of Nightlife, joined CBSN New York to talk about why people come from all over the world to spend New Year’s Eve in New York, and afterward, how local communities at odds with clubs and other nighttime establishments can get along.

For more on the Office of Nightlife, see the department’s website at NYC.gov/nightlife.

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