New York Closes in on Silicon Valley in Battle for Tech Gold


By Patrick Coffee Comment

NYC skyline

The last few months have seen more than your usual share of “New York vs. San Francisco” articles.

A recent survey by HR&A Advisors that won coverage in the New York Post¬†over the weekend gets at the why behind this latest sort-of trend: the Big Apple’s tech scene is quietly and consistently growing.

While New York may not play home base to headline-makers like Uber and the various social networks, the stats regarding our fair city’s tech business are impressive. E-commerce in particular looks to leave a Manhattan-sized footprint.

Some specifics below.

Tech is now one of the city’s largest employers:

  • The industry added 45,000 jobs over the past decade, growing nearly twice as fast as New York state’s general employment numbers
  • The average tech employee makes 49% than the average worker city-wide
  • The industry provides the city and state with a disproportionate amount of tax revenue

Tech also employs more people than New York’s second-best-known industry (media) and almost as many as its best-known industry (finance). Of course, the city also plays home to quite a few venture capitalists and others looking to sink their funds into the next Nest, Beats or Snapchat.

All good reasons to bring more tech companies into New York. Also:

“…the NYC tech ecosystem is larger than that of San Francisco and fell only 56,000 jobs short of Silicon Valley” in 2013.

This is hardly news to any NYC-based PRs with a bit of tech savvy, but it’s nice to remind the media that Silicon Valley and San Francisco do not host everything tech-related that’s worthy of coverage.

At any rate, it’s a good piece of research to cite in convincing potential clients that New York is not in any way averse to tech. S.F. may have most of the big names and more than the lion’s share of media coverage, but more and more companies both large and small now see New York as a good place to launch.

Seems we’re just one blockbuster startup away from making our own headlines.