Biking is a burgeoning business in New York City, according to a recent report from the City’s Economic Development Corporation (EDC). The EDC’s June 2013 Economic Snapshot-which highlights selected economic trends in New York City-not only touted the growth in cycling ridership, but also a growth in cycling-related employment.

According to the Snapshot, the number of cyclists in New York City has grown by nearly 53 percent from 2008-2011, and cycling as a form of commuting has grown by roughly 24 percent during the same time period. Cycling related employment-like jobs in bike repair and maintenance shops-grew by 8 percent over the same time frame.

And this could just be the beginning of a bike employment boom. That’s because it appears this month’s Snapshot does not yet include the employment opportunities created by the launch of Citi Bike last month, nor does it take into account the economic benefits that bike-sharing programs have been shown to provide in other areas where they have been implemented.

The EDC report comes on the heels of findings from a New York City Department of Transportation (NYCDOT) study last fall, Measuring the Street, that also found bike related economic benefits. Measuring the Street found 49 percent higher retail sales in areas next to protected bicycle infrastructure, as well as increased retail sales in other areas where streets had been redesigned to increase pedestrian space.