Crowd Based Capitalism – Thinking Ahead with Prof. Arun Sundararajan


By Maria Surilas, Research Assistant, Economic Research and Analysis

Airbnb, Uber, TaskRabbit and Lyft. These companies are just a few examples of what has been called the “sharing economy.” On Friday, February 26th, as part of its Thinking Ahead speaker series, NYCEDC hosted Prof. Arun Sundararajan of the Stern School at NYU to discuss the evolution and impact of the sharing economy. An authority on what he calls the “Crowd Based Capitalism”, the title of a forthcoming book, Prof. Sundararajan has advised the National Economic Council, the Federal Reserve Bank, the White House, and the Federal Trade Commission on the explosion of...

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NYC Venture Fellows Visit with Next Jump


Members of the 2016 NYC Venture Fellows class gathered at the headquarters of e-commerce company Next Jump for an afternoon of workshops focused on fostering a productive company culture.

Labelled “The Most Successful Company You’ve Never Heard Of” by Inc. in 2014, Next Jump provides employee rewards programs for nearly 60% of Fortune 500 companies and more than 100 million Americans. But beyond maintaining a thriving business, Next Jump aims to “change the world by changing...

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B&B Carousell Added to the National Register of Historic Places


B&B Carousell added to the National Register of Historic Places

We’re excited that B&B Carousell was just added to the National Register of Historic Places! NYCEDC played a key role in the preservation of this historic Coney Island gem, managing the meticulous 6 year restoration. You can watch a short documentary that showcases the restoration process.

History of the B&B Carousell

The period between 1880 and the early 1930s has been labeled as the golden age of carousel production, with between 2,000 and 3,000 carousels produced in Brooklyn during this time...

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Coney Island

February Economic Snapshot: Small Businesses in NYC


By Kimberly A. Grauer, Project Manager, Economic and Research Analysis 

Small businesses are a hugely important part of the economy.

The Small Business Administration recently cited that over 99.7 % of all employers are small firms across the United States. Small businesses are especially important in NYC, employing approximately 1.7 million individuals as of Q4 2014. Recently, the Center on Urban Future, a NYC think tank, found that just over 90% of all NYC businesses actually had fewer than 20 employees. According to their research, this is a higher percentage than all but one of the 363 metro areas...

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Launching the Digital Health Marketplace and Breakthrough Network


pilot day group

At the third annual Pilot Day, 200 leaders from tech and healthcare came together at the Alexandria Center for Life Science – NYC to celebrate a major event in healthcare innovation.

Speaking to the assembled crowd, NYCEDC’s Kathleen Warner, Executive Vice President and Managing Director of the Center for Economic Transformation, unveiled ten promising health tech pilots and announced a major expansion of our efforts to drive collaboration between the City’s tech sector and its hospitals, payers, and community clinics. 

In order for these partners to navigate the...

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Introducing Futureworks NYC!



New Yorkers are creators. 

From industrial warehouses to modern 3D printing facilities, look around and you'll find a wellspring of creative innovation emerging from New York City’s vast manufacturing ecosystem. Yet manufacturing, which already provides good jobs to over 75,000 New Yorkers, is hitting a critical turning point.

About Futureworks NYC

Last November, Mayor Bill de Blasio unveiled an action plan to grow 21st-century industrial and manufacturing jobs in NYC.

A hallmark initiative of the action plan is 

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Futureworks NYC

Rising to the Challenge: New America


new america

New America has a vision: to promote vibrant and resilient communities through equitable access to broadband.

In 2012, just months before Sandy, New America - a Washington DC-based public policy think tank and civic enterprise - worked closely with a local community group, Red Hook Initiative, to pilot a mesh network in Red Hook, Brooklyn. Accompanying this was a digital skills training program for local residents called “Digital Stewards.”

The pilot was intended to provide essential services in a community with lower broadband adoption rates than...

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A Closer Look At Bitcoin


By Kimberly Grauer, Project Manager, Economic Research and Analysis

You may have heard of Bitcoin, the entirely digital currency that was founded in 2009 by an unknown programmer operating under the pseudonym Satoshi Nakatomo.  

Unlike traditional government-backed fiat currencies, Bitcoin is decentralized and regulated through advanced encryption techniques. With a history of marked volatility and an infamous role in marketplaces for illicit goods such as Silk Road, people have questioned the legitimacy and safety of using Bitcoins.

Yet the value of Bitcoins in circulation has grown...

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December Economic Snapshot: Charitable Giving in NYC


dec 2015

By Matt Gordon, Project Manager, Economic and Research Analysis 

‘Tis the season for fundraisers, galas, and giving!

Some surveys indicate that as much as 40% of all charitable donations occur in December. This month’s economic snapshot looks at the data on charitable donations to shed some light on the giving economy in NYC.

As the headquarters for many of the world’s largest foundations, New York State ranks first in the nation in total giving. New York based foundations...

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Announcing Innovate NYC: The Shared Resource Challenge


innovate nyc

By Alysa Hannon, Senior Project Manager, Social Capital Desk, Center for Economic Transformation

On December 7, NYCEDC's Social Capital Desk celebrated the launch of Innovate NYC.

Twenty student-social entrepreneurs, selected from across 10 institutions of higher education in New York City, were announced as the first cohort of this new landmark program. Created and implemented...

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