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In the wake of Hurricane Sandy, we learned that New York City had to be more environmentally and economically resilient.
These elements came together seamlessly at the awards ceremony for RISE : NYC. Resiliency Innovations for a Stronger Economy (RISE) is a NYCEDC competition that was launched in early 2014 to seek out the world's most promising...Read More
The one constant in New York City is change.
Across the five boroughs, communities are constantly shifting, innovating, and evolving.
But our neighborhoods also ground us, providing foundations for New Yorkers to build their identity, heritage, and sense of place. The Lower East Side is one of these communities. It is home to more than 80,000 people from more than 80 countries and 3,000 businesses and cultural institutions. At the heart of this diverse neighborhood is Essex Street Market.
Established in 1939 by Mayor Fiorello La Guardia, Essex Street Market has been a...Read More
By Dean Simms-Elias, Media and Tech Intern in the Center for Economic Transformation
Know of a young innovator who will change the world?
NYCEDC is proud to partner with CE Week NY to present the “10 Under 20: Young Innovators to Watch” award. This award will recognize ten students between the ages of 13 and 19 years old who have displayed exceptional potential by developing an innovative project with a civic use that can...Read More
This post is part of NYCEDC’s Thinking Ahead series, which features editorials from New York City leaders and influencers across key sectors and neighborhoods to foster dialogue around the issues impacting our city.
The following was written by Nina Tandon, CEO and co-founder of EpiBone, the world's first company that grows living human bones from your own cells for skeletal...Read More
By Kristina Pecorelli, Senior Project Manager, Economic Research and Analysis
Global climate change is widely considered one of the greatest challenges of our time.
In a report released earlier this year, the New York City Panel on Climate Change (NPCC) predicted that NYC will experience rising temperatures and heavier rainfall over the coming decades. When coupled with...Read More
In just over a decade, Etsy took the artisan’s age-old desire to sell her wares and turned it into a $3.5 billion company that is revolutionizing how we think of commerce.
Today, when an artist or entrepreneur joins Etsy, they are immediately...Read More
By David Gilford, Vice President, and Jason Goode, Project Manager, Clean Technology & Energy
To help New York City's entrepreneurship ecosystem grow, NYCEDC is launching a new model of support for fast-growing companies that are solving our most pressing urban challenges
New York City has a vibrant and extensive early-stage startup ecosystem that includes NYCEDC’s network of 16 business incubators and co-working spaces. These facilities have helped over 1,000 companies and 1,500...Read More
By NYCEDC's Economic Research and Analysis Team
NYC's life sciences ecosystem is growing.
While the dense, urban space that characterizes New York City may be the bane of our rental rate woes, the geographic proximity it provides is an asset for research and development. Studies have found that the returns to R&D investment are high when academic research and commercial development are close enough to meet up for coffee.
In the March 2015 Economic Snapshot,...Read More
By Kyle Marks, Project Manager, Economic Research and Analysis
New York's Internet sector attracted the largest share of NYC's venture capital investment in 2014.
The latest figures from CB Insights and PricewaterhouseCoopers indicate continued growth of venture capital funding in New York in 2014.
New York’s total VC funding grew 53% year-on-year, while VC deals were up 7% compared to 2013. New York’s 92 deals and $1 billion in total funding for Q4 2014 were down from Q3’s 122 deals and $1.4 billion in funding.
Where would we be without MRIs or Lipitor?
These innovations revolutionized healthcare, enabling us to diagnose and treat illnesses and live healthier lives. Diagnostics technologies like diabetes tests, research facilities, and other medical devices and therapeutics (medicines) all make up a vast and vital industry known as Life Sciences.
It’s an industry that New York City is uniquely positioned to lead.
New York City is home to top pharmaceutical companies like Pfizer, Eli Lilly, and Roche. We have some of the best centers for...Read More