Borough President Ruben Diaz Jr. announced Friday that $1 million in capital funding will go toward renovating a historical retail market on Arthur Avenue. 

The announcement was made at the state comptroller's event at the market, where state comptroller Thomas DiNapoli released a positive economic report on the Bronx, crediting the successful numbers to immigrants.

Nearly half of the workforce in the Bronx is made up of immigrants and 60 percent are self-employed entrepreneurs. 

The president of the market says the money will go toward updating the building's structure. He says the roof will be renovated first, following the bathroom upstairs and the drainage system in the basement.

The $1 million will be supplemented with $108,000 from Councilman Ritchie Torres.