NYC Tech is Booming.
According to a new report issued by New York State Comptroller Thomas DiNapoli, NYC tech is experiencing phenomenal growth and is becoming the key driver for job growth in the city. Employment in NYC’s tech scene is growing three times faster than the rest of the private sector with an increase of 57% between 2010 and 2016 (46,900 jobs) with average salary increasing three times faster, reaching $147,300 in 2016.
These are stunning stats. In addition, HOF’s David Teten provides a thoughtful argument for “New York’s Advantage Over Silicon Alley” in an op-ed on Crain’s NY posted last week. He points out that one large driver of growth is that international founders have a big advantage growing their companies in NYC given their capital efficiency and exceptional determination, with Israeli entrepreneurs leading the way.
We at ICONYC couldn’t be more thrilled about the growth of NYC and Israeli tech, which we’ve experienced first hand since launching our platform in early 2015. As we’re heading into the last quarter of the year, we’re excited to see the great progress our companies have made since joining our program, and the fantastic and unconditional support of the NY tech community. Read more on our Newsletter