Tech Boom in New York

Interesting piece in a recent Wall Street Journal article:

“New York has the nation’s fastest-growing tech sector, and has surpassed Boston as the No. 2 hub, behind Silicon Valley, for internet and mobile technologies,” according to a report by the Center for an Urban Future.

In the last 5 years, information-technology jobs in the city have increased by 29% to 52,900 from 41,100.

 

The article explains that New York is drawing tech companies because much of the innovation happening now is connected to industries that are centered in New York:  advertising, fashion, financial services and media.  Another big draw:  Google’s 2010 purchase of a former freight warehouse in Chelsea; a move that signaled the tech world was taking New York seriously and has acted as a magnet, pulling other digital companies to the city.

To read the piece, written by Jennifer Maloney, in its entirety, click here.

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In Market Conditions