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NYC Business Climate
For International Businesses
INTERNATIONAL BUSINESS IN NYC
International Business in NYC
 
International Flags in Rockefeller Center
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Inside International Business in NYC:
Overview
Why NYC?
Who’s Here
Success Stories
Recent Press
Additional Resources
Contact Information
OVERVIEW


There is going to be a whole new dynamic in that [Lower Manhattan] area. I wouldn’t be surprised if it changes the way that people think about the financial district. We wanted to be at the forefront.
 
Robert Chaves, CEO, Hermès, USA
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New York City is the Premier International Center for Global Business. New York City’s markets, business services, diversity, cultural venues, and quality of life attract companies from around the world.

There are more than 3,100 foreign organizations located in NYC (Source: "2005-2006 International Business in NYC Directory" published by the Office of the Mayor, NYC Commission for the UN, Consular Corps and Protocol). 

New York City is also home to 45 Fortune 500 companies, twice as many as any other U.S. city (Source: Fortune Magazine, April 2007).

NEW YORK CITY IS A CENTER OF GLOBAL BUSINESS
New York City is home to an impressive collection of Fortune Global 500 companies.

Fortune Global 500 Companies in NYC
Accenture Lehman Brothers
Alcoa Loews
Altria Group Merrill Lynch
American Express MetLife
American Intl. Group Morgan Stanley
Bristol-Myers Squibb New York Life Insurance
CBS News Corporation
Cendant Pfizer
Citigroup Schlumberger
Goldman Sachs Group TIAA-CREF
Hess Time Warner
J.P. Morgan Chase Verizon Communications

(Source: Fortune Magazine, July 2006)

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WHY NYC?

New York City offers a compelling value proposition (PDF 1.79 MB) also available in Spanish (PDF 750 KB), Italian (PDF 2.41 MB) and Chinese (PDF 582 KB) for international businesses, including vast business networks and market opportunities, an educated and talented workforce, and diverse and affordable real estate.

The NYC Metro Region's economy is larger than most countries:
  • If NYC Metro Region were a country, its GDP would be $901B and ranked number 10 in the world
  • Its GDP would be less than Italy ($1,710B), Canada ($1,035B), and Spain ($1,019B)
  • Its GDP would exceed South Korea (number 11), Russia (number 12), and India (number 13)

(Source: US Council of Mayors 2005, CIA World Factbook 2005)

REAL ESTATE

With 390 million sq. feet  (or 36 million m2), Manhattan alone has substantially more office space than any other city in the world:

INTERNATIONAL TALENT
New York City attracts a large number of foreign-born persons, with 36% of it population born outside the U.S.
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WHO’S HERE

Below is a sample list of international companies with offices in New York City, organized by country.

Country Companies
France Société Générale, BNP Paribas, AXA Group, Calyon, L'Oreal, France Telecom, Publicis, Havas Euro RSCG, JC Decaux, Vivendi Universal, Redcats PPR, Hermes, Air France KLM, Dexia, Lafarge, Accor, Sodexho
Germany Deutsche Bank, Bertelsmann, Deutsche Telekom, Siemens, E-On, Altana, HypoVereinsBank, Allianz, NordLB, WestLB, DresdnerBank, Hugo Boss
Switzerland UBS, Credit Suisse First Boston , Caran d'Ache, Richemont, Riri, Rolex, Sulzer, Vendome, Novartis, PubliGroup, Winterthur, Egon Zehnder, Zurich Financial Services, Lombard Odier, Swiss Air Lines, Bally, Compagnie Financiere Tradition
The Netherlands ING, ABN Amro , Euronext, KPN, KLM, Fortis, VNU, Reed Elsevier, Rabobank, Wolters Kluwer
Italy Assicurazioni Generali, Unicredito, Ferragamo
Japan Nippon Life Insurance, Nomura Holding, Mitsubishi, Konica Minolta, Mitsui & Co., Mizuho Corporate Bank, Shiseido Cosmetics, Sony Corporation
Scotland Royal Bank of Scotland
Sweden H&M
United Kingdom HSBC Holding PLC, Reuters, Thomson Financial
Israel Traiana Technologies
Spain Vital Dent
China Bank of China, Haier America
Hong Kong Mandarin Oriental Hotel Group
Korea Samsung, Bank of Korea
Taiwan Cathay Financial Corp
Singapore United Overseas Bank

(Source: “2005-2006 International Business in NYC” directory published by the Office of the Mayor, NYC Commission for the UN, Consular Corps and Protocol)

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SUCCESS STORIES
AGATHA RUIZ DE LA PRADA
Agatha Ruiz de la Prada felt it was also time to establish a presence in the U.S. market. She considered many U.S. locations and eventually chose New York City as her primary location.
Read more >
MEXICANA AIRLINES
Mexicana Airlines sought to strengthen its connection to its customers, so the company chose to relocate its operations from Newark Airport to JFK International.
Read more >
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RECENT PRESS
View our Press Releases to learn more about NYCEDC’s work to develop business in New York City.
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ADDITIONAL RESOURCES
NYCEDC RESOURCES

We have compiled NYC Business Resources and NYC Culture & Living Resources to provide more informatoin about NYC. To learn about individual industries, visit our Industry Overviews.

We offer a variety of informative newletters including Economic Snapshot, NYCVISION, Energy & Telecom, and Bioscience Bulletin. Visit our newsletter sign-up to subscribe. 

OTHER RESOURCES

There are also a number of resources designed to guide you through the process of establishing a business in NYC.

EasyStart Business Guide in New York City (PDF 539 KBP)
Developed by NYC Business Solutions (an initiative of the NYC Department of Small Business Services), this guide covers most aspects of starting a business in New York City. It includes contact information for the agencies you will need to work with throughout the establishing process.

New York State Employer’s Guide (PDF 315 KB)
Employer's Guide to Unemployment Insurance, Wage Reporting, and Withholding Tax. Links to other resources pertaining to Visas and employee-related matters.

Citizen and Immigration Resources
US Citizen and Immigration Services website.

BUSINESS INCENTIVES
NYCEDC also offers information about a variety of New York City business incentives designed to help businesses thrive. Visit our Financing & Incentives section.
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CONTACT INFORMATION

NYCEDC's international team will help you navigate all aspects of NYC business. For more information, please contact:

Ann Li
Vice President, Financial Services
ali@nycedc.com

Yuet-fung Ho
Vice President, International Business Development - Northern Asia
yho@nycedc.com

 
RELATED LINKS

Incentive Finder
Use this simple tool to discover which NYC incentives may be applicable to your business.

The Five Boroughs
Get highlights about what NYCEDC is doing in each borough.

NYC Energy Policy
Learn more about NYCEDC’s role in developing energy policies and programs.

 
PUBLICATIONS

NYCVISION
View this newsletter outlining NYC economic development initiatives.

Economic Snapshot
Read our newsletter highlighting NYC employment, consumer spending, real estate and more.

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