The Success of Stands.2

After almost two years of recession there are still signs of financial stress within New York City. However, in the lower East Village, many residents have become familiar with Artichoke Pizza, located on 14th street between 1st and 2nd avenue. Known for its pizza and for its late operating hours, there is likely to be a line trailing out of the small shop, even at two in the morning. On January 14th, owners Francis Garcia and Sal Basille opened a dessert stand, Led Zeppole, located only two doors down from their successful pizza shop.

While Garcia discussed that he had prior ideas for a dessert themed restaurant, Led Zeppole was a still a bit unexpected. When the space suddenly became available about a year ago, Garcia explained that originally he had no interest in investing. It was only until other food businesses began to look at the empty space that he became serious in expanding, as he would only lose money by allowing in possible competition.

In the face of the nation’s economic crisis, business has remained unaffected.

“Pizza’s recession proof,” Garcia said. “No matter how bad things are people still have five dollars for a slice and a soda.”

Garcia explained that the business received during the late nights and early mornings have also helped them stay afloat.

“The late night crowd is great. It’s an alternative to a diner.” Garcia says. “ There are only a handful of places that have good food for cheap prices that are open late.”

In a report released by the RNCOS, a leading market research and information analysis company, the restaurant industry remains a keystone of the nations economy, employing an estimated 13 million people, or 9 percent of the total US workforce. The food industry, while suffering from some amount of economic repercussions, it is still considered a “safe haven” in the larger sense, everyone still has to eat.

Despite the food industry’s stability during the nations economic crisis, it is difficult to disregard the negative impact the economy has had on others. According to a news release published by the Bureau of Labor and Statistics, 27 states reported unemployment rate increases. The report indicated that the 14.9 million unemployed within the US went fundamentally unchanged from January.

Even in New York, the state’s unemployment rate has increased from 8.8 percent to 8.9 percent. Peter A. Neenan, director of the department’s research division, is quoted as saying: “Our newly revised jobs data indicate that the impact of the national recession on New York state’s economy was deeper than first estimated.”

However, there remains optimism amongst many economists, as there is suggestion that the country has overcome the recession and is now dealing with recovery. In an interview with David Gregory, host of the MSNBC show “Meet the Press,” Christina Romer, a chair on President Obama’s Council of Economic Advisors had said:

“You know, there’s the official definition, and that talks about just when do you turn the corner, when do you go from plummeting to, to finally starting to go back up? And I think we have, at least in terms of GDP, reached that point. But I think the president’s always said, and what I firmly believe, you’re not recovered until all those people that want to work are back to work.”

Whatever the case may be, for Garcia and Basille things have never been better, especially as business is expected to increase due to the summer season. With there recent opening of Led Zeppole, a new meat sandwich shop This Little Piggy Had Roast Beef, and the development of a second Artichoke Pizza – one that would offer seating and a side slice shop – it is hard to imagine we are still suffering from an economic crisis.

“We’ve been blessed,” Garcia says. “We really haven’t had any down time. After the first two weeks [Artichoke] business just exploded.”