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May Economic Snapshot: Consumer Expenditures

 |  NYCEDC

How much are New Yorkers spending each year?

$58,658, on average, according to the Consumer Expenditure Survey from the U.S. Bureau of Labor Statistics (BLS). This is 6.2% higher than households in the Northeast and 14% higher for the United States as a whole.

Our May Economic Snapshot reveals where New Yorkers are spending the most money and how we compare to other metro areas. Some of the findings may surprise you. 

may econ snapshot chart 2

Highlights:

  • Housing: In the past decade, housing's share...
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New York City's Design Economy

 |  NYCEDC

From May 9th to May 20th, NYC celebrates its many creative assets during NYCxDesign, the city’s 2nd annual Design Week. The 12-day celebration coincides with a report released last week by the Center for an Urban Future that states that NYC leads the nation in the number of design firms. With 65% more designers than any other metro area in the U.S., and employment at city design firms increasing by almost 10% since the 2008 recession, NYC’s status as a design capital is rising.

NYCEDC is honored to support...

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Design

Meet the Industrial Growth Initiative Program 2014 Finalists

 |  NYCEDC

We are proud to announce the 2014 finalists for the Industrial Growth Initiative Program.

The program, developed and run in partnership with Next Street Financial, provides small industrial businesses the opportunity to learn specialized growth and development strategies from industry experts in New York City. 

The Industrial Growth Initiative is comprised of two phases of workshops which precede the business plan competition. In the first phase, NYCEDC partnered with Next Street to lead business growth workshops across the five...

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Making It Here: An Exploration of Manufacturing in New York City

 |  NYCEDC

American manufacturing is experiencing a revival, and U.S. cities are at the center of it.

To highlight the progress New York City has made as a manufacturing hub, we are thrilled to announce the launch of Making It Here, a yearlong series of programs organized in partnership with Open House New York (OHNY) that explores manufacturing in the city today.

Through tours, talks, and other programs, New Yorkers will have a chance to visit and learn about how older industrial buildings are being revitalized to support new modes of manufacturing, as well as how some legacy manufacturers have been able to stay in place over time and thrive . 

As the OHNY blog reports,

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Made in NYC: Lua

 |  NYCEDC

Lua is a Made in NY startup with communication at the center of its mission. A classic startup story, the mobile communications company was established in 2010 by three friends in a Manhattan basement. The name, Lua, derives from an ancient Hawaiian martial art that emphasizes silent but effective communication. It's this philosophy that drives Lua's modern mobile enterprise with the goal of helping modern workforces coordinate and operate efficiently as one single unit.

We spoke with co...

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Spring Break Game Jamming With NYC Generation Tech

 |  NYCEDC

We all play games, but how many of us can make them?

Thanks to NYC GenTech's Spring Break Game Jam, 68 NYC high schoolers can now add "mobile game creator" to their resumes. 

Hosted in partnership with the Network for Teaching Entrepreneurship (NFTE) and

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Q1 2014 Venture Capital Data Preview

 |  NYCEDC

tech trends and insights

By Andrea Moore, Senior Project Manager, Economic Research and Analysis

The first quarter of 2014 was New York State’s best first quarter for venture capital since 2001, according to newly released data. New York’s deals and dollars were down slightly from the record-breaking Q4 2013, which was New York’s best overall quarter since 2000, but the first quarter of the year often shows a dip. New York finished second behind California in number of deals and third behind California and Massachusetts in overall dollars invested in the quarter.

               Venture Capital Trends in New...

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HYPOTHEkids: Nurturing The Next Generation Of Scientists

 |  NYCEDC

erika teaching

Background

Studies report that America's interest in STEM (science, technology, engineering, and math) subjects is waning. In fact, the President’s Council of Advisors on Science and Technology states that roughly 40% of college students who major in engineering and science switch majors before graduation. 

Enter

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Harlem Biospace, STEM

A Taste of Essex Street Market: Nordic Preserves

 |  NYCEDC

A historic culinary destination on the Lower East Side, Essex Street Market is home to more than 20 independent merchants. Over the next few months, we will feature the characters that make up the bustling corner of Delancey and Essex Street.

Name a Scandinavian pantry staple and you'll likely find it at Nordic Fish Preserves. From pickled herring to cardamom cake to grapefruit marmalade, this Essex Street Market business manages to stock a wide assortment of items, all under the watchful eye of Vern, the shop's famous caribou. Owner Annika Sunduik shares the history behind her Scandinavian stall.

...

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Astoria: An International Culinary Destination

 |  NYCEDC

By Kristina Pecorelli, Economics Research and Analysis Project Manager

This week, NYCEDC released the latest Neighborhood Trends & Insights report that explores the evolving neighborhood of Astoria, Queens. 

Astoria, a neighborhood in northwest Queens, is home to a wide array of residents from all over the world. In 2009, National Geographic’s ...

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