The Private Jewelry Exchange Ltd

Investor Summary For Private Placement Memorandum Dated February 5, 2014

Prepared By:
The Capital Resource Group, Ltd. 40 Wall Street, Suite 2800 NEW YORK, NY, 10005

Attn: Jack Griffin 212-208-0050 ext 101 jg@thecapitalresourcegroup.com

The Private Jewelry Exchange, Ltd. Investor Summary

This Summary is provided to potential investors as an aid in the review of the formal Confidential Private Offering Memorandum (the Memorandum) dated February 5, 2014. The purpose of this Summary is to assist prospective investors in locating key information in the Memorandum and is not intended as a substitute for the information contained in the Memorandum. The Offer and Sale of the 12% Senior Secured Debentures can only be made by the Memorandum. In any subscription for Units of the Debentures, subscribers must warrant that (i) they received and read the Memorandum; (ii) they were given an opportunity to ask questions of Management regarding the Memorandum and received answers to such questions; (iii) they were provided with any further information requested which was available to the Company or could be obtained without undue expense or delay. Prospective investors must not rely solely upon the information contained in this Summary in making an investment decision.The following information is cross-referenced to the appropriate Section and Page in the Memorandum where a prospective investor can locate the full text of the information referenced. The Offering: The Company is offering to qualified investors up to $2,000,000 of its 12% Senior Secured Debentures in Units of $10,000 face amount of such Debentures. The Offering is made on a 30 Unit Minimum, 200 Unit Maximum basis until the close of business on June 30, 2014, subject to a further extension by the Company (the Termination Date). The minimum subscription is 1 Unit although the Company may accept subscriptions for less than 1 Unit in its discretion. See, Plan of Distribution on page 58. Nature of The Debentures: The principal of and interest on the Debentures shall be senior to all other debts of the Company and will be secured by a first priority lien on all the assets of the Company including the Notes and Pledged Collateral (in the form of jewelry, diamond and/or other precious gems) underlying the collateral loans the Company will be making in the course of its business operations. The Debentures shall be further secured by all proceeds received from the repayment of any loans issued by
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the Company; sale or disposition of any forfeited collateral from such loans; the sale or disposition from any jewelry, diamonds or precious gems purchased or acquired by any other means by the Company. Interest on the Debentures, at the rate of ONE (1%) PER CENT Per Month, will be paid to Debenture holders beginning 30 days following the Closing of the Minimum Offering and continuing monthly thereafter during the terms of such Debentures. The Debentures mature 1 Year after the date of their issuance at which time the full principal amount of such Debentures will be due and payable to the Debenture Holder. However, each Debenture Holder has the absolute right to renew his Debentures upon the same terms and conditions for an additional period of 1-year from the Maturity Date hereof. See Description of Securities Being Offered on page 59. Escrow of Subscriptions: All subscriptions will be held in Escrow by Marcial & Associates, LLC, attorneys at law, until the Minimum Offering is sold or the Termination Date. See Escrow of Subscription Proceeds page 12. Investor Suitability: This Offering is being made pursuant to Rule 506 promulgated under Regulation D of the Securities Act of 1933, and similar provisions of various State Securities Acts, to accredited investors and not more than 35 non-accredited investors. See Investor Suitability Standards on page 13. Business of The Company: The Company is a New York corporation, incorporated in June 2013, headquartered in the New York Diamond District in New York City, with its executive offices presently located at 36 West 47th Street, New York, NY 10036 in the heart of New York Citys diamond district. It is a specialty financial services enterprise principally engaged in establishing and operating a business that lends against and or acquires jewelry, diamonds, and other precious gemstones (i.e. rubies, emeralds, sapphires, etc.) through a collateralized, nonrecourse small loan business. Essentially, our business plan calls for the Company to operate as a collateral loan broker and make loans to customers to help them meet shortterm cash needs on the security of pledged tangible personal property (in this model, jewelry and precious gemstones). The pledged tangible personal property provides security for the repayment of the amount advanced plus interest and accrued service charges and related fees. As a result of its direct purchase and default function the Company acquire jewelry, diamonds and other precious stones at approximately 16 20 percent of Actual Wholesale Price of the items thought the opportunity of direct purchase from customers and through the customer defaults on their loans. Since it purchase at such a low cost it can then more easily sell the items on both a retail and or a wholesale basis to waiting buyers. As a special benefit to its investors, including purchasers in this Offering, a special Private Vault portion of the Companys website will offer for the first 15 days all available items at a specially discounted prices that we anticipate will be slightly below wholesale price,
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extending what we expect will be the lowest prices available anywhere in the diamond district. All items sold come with a written appraisal for insurance purposes. See Business of The Company on page 16. The Market According to the both authoritative Rapaport Report (www.diamond.net) and the Diamond Dealers Club or DDC (www.nyddc.com ). A year-long study measuring the economic impact of New Yorks diamond and jewelry industries upon the city and state economies confirms that the New York Diamond District is the world's largest shopping district for all sizes and shapes of diamonds and fine jewelry. The Diamond District stretches for one block along 47th Street between Fifth Avenue and Sixth Avenue in midtown Manhattan and is home to more than 4,000 diamond-related businesses, which give the area its nickname as the Diamond District. Considering the United States is the world's largest consumer market for diamonds, it is notable that over 90% of the diamonds that enter the US pass through New York City and most of those pass through the Diamond District. Another advantage of being in the heart of the Diamond District is that when someone thinks of selling, buying or using jewelry or gems to secure a collateral loan, the Diamond District is where they go first. Our location places us in the heart of the largest city with the highest concentration of wealth in the United States. Management believes that the potential for our business model is greater here than anyplace else in the United States based on demographics alone providing us more potential customers in the greater NY region than anywhere else in the country. Based upon statistics reported by the Rapaport Report, the definitive industry authority in the Diamond trade in the US, New York's diamond industry accounts for an annual economic impact of $24 Billion and employs more than 32,000 people. To put this in proper context, this one square block in New York is responsible for more employment than the largest employer in the entire city of Philadelphia. Richard N. Gottfried, a New York State Assemblyman representing parts of midtown Manhattan, has been quoted as stating, ''Diamonds are also the number
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one product the state exports. While everyone knows about 47th Street, I dont think people have a clue as to how much business takes place here.'' A report released on the fifteenth anniversary of the founding of the 47th Street Business Improvement District, stated that the diamonds cut and processed in New York City continue to be the state's number one foreign export by value. According to the report New York State exported $9.1 billion worth of diamonds in 2010. See "Business Strategy" on page 19 and attached articles. Forecasted Financial Information: The projections included in the Memorandum illustrate that this business is not only highly profitable but also provides superior security for the Debentures being offered. From the very first month of operation, the cash plus asset value on hand, all of which secures the repayment of the Debentures, is in excess of 100% of the total outstanding Debentures; by month 3 the security is more than double the amount of Debentures outstanding and never falls below that level. Additionally, the Company will establish a sinking fund for the repayment of Debentures at their maturity and contribute one-third of the Companys net profit to this fund. At the end of the first 12 months, in addition to the collateral available to secure the Debentures, a Sinking Funds will be available for repayment of any Debentures that are not extended for a second year by investors. Additionally, the debt service on the Debentures will be paid to investors on a monthly basis so that they will receive a return of 1% of their investment every month. See Forecasted Financial Information on page 32. Management Mr. Afkari, the Companys Founder and Chief Executive Officer, who has over 30 years of experience in the wholesale and retail jewelry business in the New York City Diamond District, and who comes from a family with over 120 years of experience in this industry since the mid 1880s. Mr. Afkari is a GIA (Gemological Institute of America) trained gemologist and during his extensive career in the industry has established his reputation as a leader in the Jewelry Industry in New York and has accumulated a wide-reaching network of customers and contacts throughout the world. As the anchor of New York's Diamond District, the New York Diamond Dealers Club is the largest and oldest
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organization active in U.S. diamond trade, and the most important diamond exchange in the United States. For more information regarding the Diamond Dealers Club see their website at http://www.nyddc.com/ . See "Management" on page 54. Mr. Afkari is a highly regarded expert in both clear diamonds and colored gems.

MONICA CARAFFA, has been associated with the Company since its inception and will serve as Vice President of Marketing and a Director. Ms. Caraffa brings to the Company over 30 years of experience in strategic marketing, advertising, public and community relations within four metropolitan markets including New York City, Northern New Jersey, Nassau County and the Philadelphia/Southern New Jersey region. See "Management" on page 55.

JOHN EDWARDS, G.G., A.J.P., Professor of Gemology at the GIA Institute in New York has been associated with the Company since its inception and will initially serve as its Secretary and as a Staff Gemologist assisting Mr. Afkari in the evaluation and appraisal of jewelry, diamond and precious gems. Mr. Edwards was certified as a Graduate Gemologist by the Gemological Institute of America (GIA) in New York in May of 2005, having worked at the GIA since 2000 while studying for his degree. Mr. Edwards has devoted his entire career to his work at the GIA, having served in various capacities in the field of evaluating, grading and appraisal of diamond and colored gemstones while currently working as a Professor of Gemology at the GIA Institute in New York. Mr. Edwards has served as consultant and mentor to the diamond trade in New York for a number of years teaching the fundamental skills and expertise required by the diamond trade. He is highly regarded as an expert in the evaluation, grading and appraisal of diamonds, colored diamonds and colored gemstones and his opinions regarding evaluation of gemstones is highly sought after in the trade. See "Management" on page 56.

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THOMAS GELB, serves as advisor to the board of directors, he is an award winning colored diamond expert who combines an unmatched knowledge of colored diamonds and their grading with a keen business acumen and exceptional business education and experience. Since 2009 he has been the principal of his own firm, Gelb Gemological Consulting, a private firm that provides gemological consulting to the jewelry trade in New York City. Prior to forming his own consulting firm (from 2008-2009) Mr. Gelb was Manager of Gemstone Grading for Harry Winston, Inc., a New York City based high-end jewelry retailer with 20 international locations. While at Harry Winstons Mr. Gelb managed a staff of 6 who evaluated the quality of all gemstones used in any piece of Harry Winston jewelry, and evaluated approximately 75,000 pieces with an estimated value in excess of $50 Million. Prior thereto, from 1993-2008, Mr. Gelb worked at the Gemological Institute of America (GIA) in New York City, an internationally recognized gemological authority, providing the industry standard reports to the trade and public. He served as Supervisor of Colored Diamond Services from 2005-2008. In that capacity he supervised the flow of all colored diamonds through the East Coast Laboratory and supervised all colored diamond color graders and colored diamond origin staff, consisting of 30 people in all. From 1998 until assuming the duties of Supervisor, Colored Diamond Services, he was a staff gemologist with the GIA Identification Laboratory in which position he was responsible for evaluating the origin of color determination of colored diamonds, identification of diamond treatments and identification of pearls. During 1993 and 1994 he was engaged as a Preliminary Diamond grader at the GIA. Since 1994 Mr. Gelb has been recognized as Colored Diamond Color Grader, giving the first, then second, third and final opinions of Colored Diamonds. Among the many colored diamonds he has graded, of notable mention are the Hope Diamond (1996), the Heart of Eternity Diamond (1999), Agra (1997), Idols Eye (1996), Steinmetz Pink (2001), the Pumpkin Diamond (1998) and the Ocean Dream diamond (2003). Mr. Gelb received his Bachelor of Arts Degree in Economics from the University of Massachusetts, Amherst, MA in 1992, his Graduate Gemologist Degree from the Gemological Institute of America, New York in 1995 and his Masters of Business Administration from Columbia University, New York, in 2009. Among his many notable accomplishments are having co-authored the Second Place winner of Best Article of 2005 Gems & Gemology, Characterization and Grading of Natural Color Yellow Diamonds in the Summer of 2005; having co-authored the Second Place winner of Best
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Article of 2002 Gems & Gemology, Characterization and Grading of Natural Color Pink Diamonds, in the Summer of 2002; and having written 12 Lab Notes in Gems & Gemology dating from 1995 on topics including clarity and color treatments, along with unusual characteristics. Mr. Gelb has agreed to serve as a Special Advisor to the Company and its Management in cases where his exceptional expertise are needed in the evaluation and appraisal of unusual pieces of jewelry containing colored diamonds and in other matters where his expertise is requested. See "Management" on page 57. Risk Factors: There are substantial significant risks associated with an investment in the Company and the Debentures. Although the Debentures being offered are not equity securities, carry a guaranteed rate of interest and will be fully collateralized by all the assets of the Company, investors must carefully consider the risk factors relating to the Company and its business in conjunction with the other information contained in the Memorandum, before making an investment. The risks described in the Memorandum are not the only ones the Company will face but do represent those risks that are believed to be material. Additional risks not presently known or that are not currently deem immaterial may also harm the Company. See Risk Factors page 46. The foregoing Summary only touches upon that information which we believe is of greatest interest to a potential investor in helping him or her to make an informed investment decision. Prospective Investors are strongly urged to read the entire Memorandum and to ask questions of Management of the Company with respect to any matter on which they seek clarification. Contact Information All matters relating to the Company and its business should be directed to the Company as discussed in this Memorandum through their executive offices presently located at 36 West 47th Street, New York, NY 10036. The Company has engaged the services of The Capital Resource Group, Inc. (CRG) to assist it in various aspects of its business development and in connection with the preparation of this Offering Memorandum. Any questions concerning the contents of this Memorandum Summary or Memorandum may also be directed to CRG at jg@thecapitalresourcegroup.com or 212-208-0050 extension 101, attention Jack Griffin.

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Financial Feature Summary

This section is a summary of the core financial features/benefits that are offered through the purchase of single or multiple units in this offering. In this section the core financial features of this investment are identified, followed by a brief description, and comparative analysis relative to alternative investment vehicles. Financial Feature Description
12% Annual Interest paid monthly to the Investor.

Benefits
The 12% yield is significantly higher than average yields of alternative first position secured investments available today, including government bonds, preferred stocks and income annuities. Additionally, the monthly payment of interest provides more immediate access to your money than most other investments which pay quarterly or semi-annually (see discussion in Item 2 below as well as the Comparative Yield and Hold Analysis later in this Summary.) The interest is paid monthly (1% per month) for the entire 12 month term. At the end of the term the inventor is repaid the principal in full. The high yield is far superior to the average income annuity rates while still protecting and repaying the principal in full at the end of the term. For example for every $100,000 invested the interest payment will be $1,000 per month for the term of the security. After the final months payment the entire principle will be repaid to the investor in full. The benefits of this are self-evident in that there is a continuously expanding pool of assets (cash, borrower notes and collateral and diamonds and gems) that secures the repayment of the principal amount of the Debentures. Although we believe that most investors will elect to renew the Debentures for a second year, we have established a sinking fund of segregated cash to accommodate those who elect to be repaid at the end of the first year. Under any circumstance, we believe that the immediate cash value of the security provided will always greatly exceed the outstanding amount of Debentures.

High Interest Yield

High Yield Regular Monthly Interest Payments

Interest payments are made by check directly to the investor on a monthly basis.

First Position Secured Investment

Investment is senior debt secured by the assets of the company including cash, purchased diamond and gems and notes and collateral posted by borrowers. At no time during their term does the Debenture principal amount exceed the pledged security. Furthermore, the pledged assets continue to grow from the first month forward. By the 3rd month the security is more than double the total of the outstanding Debentures and continues to rapidly grow In each successive month. Additionally, we have established a sinking fund that segregates available cash to provide an immediate funds for repayment of Debentures that are renewed by investors after the first year. Interest payments are made on a monthly basis beginning 30 days after the Debentures are issued. The initial term of the Debentures is only 1 year, renewable for an additional year at the sole option of the investor thereby allowing you to lock in this high rate of return for up to two years at your option. Investors have the sole option to extend the investment for an additional year at the same high rate of interest regardless of whether lower interest loans become available to the Company. Investor will be offered an exclusive first right to purchase jewelry, diamond and other precious gems that are acquired by the Company and offered for sale at prices expected to be slightly below wholesale. Items will be offered to Company investors exclusively for a period of 2 weeks before being offered for sale to the public or to industry buyers at higher prices.

Short Term Advantage

Investors are afforded a dependable monthly revenue stream to help meet current needs and are required to lock up their principal for only 1 year.

Investor Option to extend.

Unlike many high yield investments, the Debentures are not based on indexing which could reduce the interest yield if market factors change. This permits investors to lock in a 12% yield for up to 2 years at their sole option. This right affords investors access to jewelry, diamond and precious gems at prices far below retail allowing them an exclusive and unparalleled opportunity to purchase either for investment, gifts or their own personal enjoyment. To our knowledge, no other similar opportunity exists in the jewelry industry.

Right to Purchase Diamonds, Gems and Jewelry below 47th New York wholesale price.

Comparative Yield and Hold Analysis of Investment This section provides a comparative analysis of the various financial features of this investment vs. other potential investments based on both their historical numbers and contractual limitations.

Investment Criteria

Private Jewelry Exchange Corporate Debenture

Guaranteed yield of 12%.

Preferred Stocks

Common Stocks

Bonds

Income Annuities

Yield

Guaranteed yield, but yield can change based on a mathematical indexing formula tied to prime rate or other benchmarks Average yield is 6%7%

Most common stock do not pay dividends and have no guaranteed yields. Even where common stock does pay dividends, the yield is much lower. According to the Dalbar Report The average investor returns over the past 10 years is 3.49%, before Inflation. No Monthly Payments whatsoever. Even where dividends are paid, they are almost universally paid quarterly.

Guaranteed Yield but, like preferred stocks, the yield can vary based on a number of factors including indexing. According to the Dalbar Report The average bond fund investors annualized was less than 1% Nowhere near inflation.

Guaranteed Yield, but yield can change based on a mathematical indexing formula Annuity returns currently range between 2.3 and 7.3 annualized.

Monthly Interest Payments

Yes Guaranteed Interest Payment on a monthly basis.

Generally interest is paid quarterly or semi-annually although a few are starting to offer monthly payments as an option usually in exchange for paying a lower yield.

Most bonds will pay quarterly or semisannually and those few that may offer a monthly payment have a reduced yield.

A few have monthly payment of interest in exchange for a reduced yield.

First Position Security

Yes, Principal is senior debt secured by all Company assets including cash, purchased diamond and gems and notes and collateral posted by borrowers. None Neither the rate nor the principal is effected by the stock market

No, second position behind all senior debt and taxes of the Company.

No Security. Common Stock is subordinate to all senior debt, taxes and preferred stock of a Company.

Yes, typically the principal is secured by specific assets or revenues, followed by the general assets of a Company.

Yes, however the assets of an annuity are investments in other entities so the quality of the security for annuity holders is dependent upon the underlying assets.

Market Volatility

Yes depending upon how the rate is calculated or indexed, it could fall with market conditions. Also, the principal will be affected by movements in the market.

Very High the value of common stock is determined by the market and is constantly changing.

Low volatility although many bonds do trade and the prices attainable prior to the maturity will fluctuate and could result in losses to investors should they not be able to hold the bonds to maturity.

The rate of interest paid by annuities is almost always indexed or tied to the performance of an underlying portfolio of securities which may to varying degrees be affected by market movements.

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Diamond District businesses lauded, urged to sell more aggressively | Capital New York
BANNER ART BY TOM MCGEVERAN

Diamond District businesses lauded, urged to sell more aggressively

BY DAN ROSENBLUM 5:23 pm Aug. 1, 2011

On Monday morning, the business improvement district representing Midtowns Diamond District unveiled a study highlighting the economics behind the dense, jostling row of jewelers along 47th Street.
Those numbers showed more than 4,100 businesses employing more than 32,000 people while the district provides the city $4.2 billion in wages, profits and indirect taxes. The businesses provided an economic impact of $24.2 billion dollars in cost of materials, services, wages, rent and profits. The study also found that jewelry, diamonds and gold were three of New York States top four exports.
John Liu, Michael Grumet and Scott Stringer.
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One of its conclusions was that Diamond District businesses needed to do more to promote themselves, attracting tourists and potential customers. The study, funded by the Empire State Development Corporation and the 47th Street Business Improvement District, was conducted by the Pratt Center for Community Development. Obviously we need a strong Wall Street economy and certainly we need to diversify the kinds of people who will be employed here in the next 20-30 years, said Manhattan Borough President Scott Stringer. But if you want a model that has sustained itself for decades and

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Diamond District businesses lauded, urged to sell more aggressively | Capital New York

decades, you have to think about the diamond district. You have to think about the great potential thats unleashed so many entrepreneurs in the city. The press conference came before the annual meeting of the business improvement district. Board membersmostly property owners and retailersmet on the tenth floor of the Diamond Dealers Club and picked over trays of bagels, whitefish, smoked salmon and lavish plates of fruit. Seth Pinsky, the head of the city Economic Development Corporation, and Stringer sat next to each other and complemented the success of the neighborhoods jewelry trade. Comptroller John Liu sat next to Stringer, occasionally flipping through the BIDs magazine, Diamond District Monthly. It is exactly the kind of industry we want to support here in New York, said Pinsky. Its global, its export-oriented, its vertically integrated, it provides thousands and thousands of jobs to people of all different backgrounds. Pinsky said the district gives high-paying jobs to workers, many of whom are immigrants or lack a formal education. I can say this, especially from personal experience having just gotten married, Im very well aware of just how the diamond district works, Pinsky said. Its a very efficient marketplace and Id like to thank everyone in the industry for helping to make my marriage a success. Liu also played up the diamond centers importance, but started with a message for Pinsky. First congratulations, Seth, on your marriage and your successful purchase, he said. I wont say how many carats. As my grandmother in Taiwan would say, mazel tov. Liu stayed on that theme when he talked about the district. This is a place where people from all over the world come to for visiting, for tourism, but also to purchase what is surely their most important asset in their entire lives, Liu said. And that would be the wedding ring that brings a couple, and keeps a couple together. Roughly a block long, Midtowns Diamond District is a complex thicket of businesses and trading centers hiding behind display windows of

A note to Capital readers By Josh Benson and Tom McGeveran

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Diamond District businesses lauded, urged to sell more aggressively | Capital New York
period. Estimates a total of $5.9M incl expected match, approaching max. #nyc2013 delcecato: The Yeshiva World NYC: Bill De Blasio Slams Financial Firms Buying Up On Gun Stocks After Newton http://t.co/YwIvIXBGSh via @ywn

shimmering trinkets. Much of the area is covered by security cameras. Some properties are Foreign Trade Zones, where many U.S. Customs rules are suspended. The Diamond Dealers Club, which bills itself as the largest diamond trade organization in the United States, is a visible sign of the citys role in the world economy. In the rooms next to the meeting, diamond dealers sat on tables with lamps and magnifying glasses for appraising gems. A television played CNBC. Clocks told the time in New York, Ramat Gan and Antwerp. All of us know about the districts contribution to New York, said BID head Michael Grumet. But we decided it was time to find out just exactly what that contribution was to the economy of the city and the state. Grumet said the last study of the district was done 20 years ago under former Manhattan borough president Ruth Messinger. During the meeting following the conference, members of the BID boasted that they were able to remove a newsstand, and they would be one of the first districts to get LED signposts. One business owner complained about taxes. Kenneth Adams, head of the states economic development agency pitched Andrew Cuomos recently formed regional councils that split the state into groups to compete for $1 billion in state funding. He said the BIDs study might make it easier to remind city and state leaders of its importance as an economic lever. The study is fundamental to our work in telling story, Adams said. This is all data-driven and we need the data. We need these numbers to tell the importance of this sector in New York, across the state, across the country, and literally, with some of our partners around the globe. After the press conference Avery Weinschneider, chair of the BIDs finance committee, ran through the budget and urged the group to help draw more customers to 47th Street. Everyone, please encourage your people in your exchanges on the ground floor, upstairs manufacturers, people who serve this industry, to take out ads, and to encourage them to be seen, he said. Because if you dont have an ad, youre not seen. And if youre not seen, of course, you cant get the business.

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Diamond District Leaders Work to Polish Its Image - WNYC

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Diamond District Leaders Work to Polish Its Image

Monday, August 01, 2011

By Matt Joseloff
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A report released Monday, the fifteenth anniversary of the founding of the 47th Street Business Improvement District, said the one block stretch between Fifth and Sixth Avenues known as the 'Diamond District' needs to develop a more cohesive look to continue attracting customers. The block is home to more than 4,000 diamond-related businesses, which give the block its nickname. The report was compiled by the Pratt Center for Community Development along with the 47th Street Business Improvement District and calls for "capital improvements to create a more cohesive and attractive look to the district."
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The district has secured a $100,000 grant from Manhattan Borough President Scott Stringer to install LED pedestrian lighting on the block, according to the Borough Presidents office. Capital improvements would help bring business back into storefronts as more diamond transactions occur online, suggested Adam Friedman, director of the Pratt Center and author of the report. The neighborhood does look a little downtrodden, Friedman said in an interview. It does look a little seedy, and when you think about what's going on in the block, it's not at all reflected in the character of the block. The diamonds cut and processed in New York City continue to be the state's number one foreign export by value, according to the report. The state exported $9.1 billion worth of diamonds in 2010. Paintings are the second-ranked export, other jewelry is the third.
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10/2/13

Diamonds.net - Economic Report Lauds Impact of NYs Diamond District

Polished Markets
Economic Report Lauds Impact of NYs Diamond District
Aug 1, 2011 3:26 PM By Ricci Dipshan
RAPAPORT... The 47th Street Business Improvement District (BID) in Manhattan,

which oversees the city's famed Diamond District, praised recent findings of an economic impact report that favored a unified street design to attract new businesses and more shoppers. New York's diamond industry accounts for an economic impact of $24 billion and it employs more than 32,000. The report also concluded that jewelry was the third-most exported product from New York state. The report was organized by the Pratt Institute and the Empire State Development Corporation and it outlined the districts growing economic significance. Michael Grumet, executive director for the 47th Street BID, commended the continued efforts to make the Diamond District a safe and viable place to do business. The group has obtained a Homeland Security grant to install security cameras and has made progress on redesigning the districts layout. We will soon be the first district in New York City with L.E.D. light poles, Grumet added. While the 47th Street BID was quick to point out that there are still challenges facing the area including the ongoing presence of solicitors and street hawkers it was optimistic that its efforts were producing real results. We have had a great year on all fronts, concluded Grumet. Richard N. Gottfried, a New York State Assemblyman representing parts of midtown Manhattan, said, ''Diamonds are also the number one product the state exports. While everyone knows about 47th Street, I dont think people have a clue as to how much business takes place here.''

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