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...Read More
Launching the Digital Health Marketplace and Breakthrough Network
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...Read More
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.Read More
Rising to the Challenge: 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...Read More
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...Read More
December Economic Snapshot: Charitable Giving in NYC
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...Read More
November Economic Snapshot: New York City Commercial Office Forecast 2025
By Kristina Pecorelli, Assistant Vice President, Economic Research & Analysis
Firms in the city’s flourishing tech, creative, and innovation sectors are looking for flexible, creative, wired space.
And they are increasingly looking to boroughs outside of Manhattan to find it.Read More
NYC-Paris Business Exchange
By Amir Beshay, Project Manager, International Desk, Center for Economic Transformation
Paris is famous for being one of the world's top destinations for cuisine, art, and culture.
As the home of the Louvre, Eiffel Tower, and over 75 Michelin Star restaurants, the City of Lights certainly ranks near the top of destination-worthy spots.
In addition to its beauty, Paris also touts a vibrant economy, a growing tech ecosystem, and an entrepreneurial community that is among the best in Europe and the world.Read More
Thinking Ahead: How Reducing Energy In Buildings Is Good For The Environment And Your Wallet
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.
Zach Aarons is co-founder and advisor of MetaProp NYC, a real estate technology accelerator that brings together the brightest minds in real estate and technology to help quickly build our industry’s most promising young companies.
This week, NYCEDC has partnered with MetaProp NYC...Read More
Rising to the Challenge: Go Electric
Go Electric has developed a system of round-the-clock power supply monitoring to eliminate surprise power interruptions.
Superstorm Sandy highlighted the vulnerability of New York City’s energy infrastructure, leaving millions without power and bringing the city to a grinding halt.
Without power, small businesses suffered greatly: servers went down, refrigeration systems turned off, and fuel station pumps were rendered useless. In the aftermath, it became clear that in order to increase energy resilience, small businesses needed to decrease their reliance on the grid.Read More