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Industry Trends & Insights

Exploring New York City’s Economic Sectors

December 2015 — Financial Technology in New York City

  • 35,000 NYC tech ecosystem workers are employed in Finance
  • Finance and Insurance represented 30.9% share of total private sector payroll in 2014
  • OnDeck Capital’s December 2014 IPO valued the company at $1.32 billion
  • NYC FinTech companies received $464.3 million in funding in 2014

January 2015 — Education Technology in New York City

  • Average wage in Corporate and Computer Training is $92,500
  • NYC's EdTech market serves over 2 million K-12 and college students and nearly 350,000 teachers
  • NYC companies received $567 million in funding between 2008 and 2014
  • Wireless Generation acquired by News Corp. in 2010 for $360 million

November 2014 – Life Sciences in New York City

  • 84% of Life Sciences jobs in NYC are in Research and Development
  • The NYC MSA outranks all others for Life Sciences employment
  • Salaries averaged $77,000 in 2013, up 9.9% from 2003
  • In 2013, NYC public and private institutions received $1.4 billion from NIH

December 2013 ─ Retail in New York City

  • Retail employment in NYC grew 4.1% from 2011-2012
  • Discounters and E-commerce are NYC’s fastest growing retail subsectors
  • Retail rents reached a record $3,000/SF along Fifth Ave. in 2013
  • Retail accounts for 15% of all new private sector jobs added in NYC since the recession

December 2013 ─ Advertising in New York City

  • NYC has 20% of U.S. advertising employment
  • Employment growth averaged 2.8% in NYC from 2002 to 2012
  • Brooklyn is home to 7% of NYC’s advertising establishments
  • 14% of U.S. advertising revenues go to NYC
  • Google claims 41% of U.S. digital ad revenues

July 2013 ─ 3D Printing on the rise in New York City

  • NYC’s 3D printing cluster continues to expand
  • Employment has risen eight fold since 2010
  • $30 million in venture capital was raised last year
  • Design schools train 2,400 new students each year

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