NJ Transit strike has potential to cost businesses millions of dollars

NEW JERSEY (WABC) -- Getting to work in the event of a New Jersey Transit strike is a thought that has many commuters on edge as talks continue, but rail riders aren't the only ones who stand to suffer should rail service come to a halt.

Hundreds of business owners rely on straphangers passing by their shops and stands on a daily basis, and a strike could severely impact their bottom lines.

CLICK HERE FOR CONTINUING UPDATES ON NJTRANSIT CONTRACT TALKS

About 105,000 commuters use New Jersey Transit to get to their jobs in New York City, and whether they get in on their own or use another form of mass transit a strike could significantly delay the trip.

"There have already been delays over the past couple of days," commuter Khari Motayne said. "I can't imagine if there is a complete shutdown."

Partnership for New York City, whose members cover most all sectors, found that for every hour a worker is delayed, $5.9 million could be lost by employers.

"The projections for delays and tie-ups are significant for a short term period of time," the partnership's Kathryn Wylde said.

The health care industry is already making plans. At the Mount Sinai Health Care Complex, officials are encouraging the 4,000 workers from New Jersey to think how the possibility of a strike would affect them.

"Everybody is aware they need to get a little bit earlier and fight the traffic, or stand instead of sit on the train or bus," director of emergency management Dr. Kevin Chason said. "They know they are going to have to come to work."

Lenox Hill Hospital released a statement saying on-site accommodations will be available for impacted employees as needed.

Financial services on Wall Street could suffer the biggest losses, with the Partnership for New York City estimating that each hour delay would cost more than $1.9 million.

"That's who we depend on," Wylde said. "Forty percent of our economy is financial services and professional services."

Big retail businesses like Macy's, which have a large employee base relying on mass transit, released a statement saying, "Some options we are considering include working remotely or working from any one of our New Jersey store locations."

One thing is for certain as the deadline approaches, as everyone affected is hoping for a solution that avoids a strike entirely.

CLICK HERE FOR WHAT YOU NEED TO KNOW IF THERE IS A STRIKE