Tech Boom Going Strong in New York
New Yorkers are going to see a lot more tech offices in their area, thanks to the ongoing tech boom and funding amounting to millions, as TechCrunch reports. New York City at the moment is enjoying the exploding tech scene. The city is fast turning a center of the tech universe and is sure to be the birthplace of many startups. The Silicon Alley hype in the city is on a steady rise, and the tide of the city's tech is riding high on a confluence of forces behind. New York has always been favoring business incentives and had several incentives running to attract tech in the onset of the financial crisis and jobs exodus.
New York City is built on the bedrock industries of media, marketing, finance and fashion as well as commerce. The technology can be seen running innovations behind different industries such as finance, manufacturing, and even fashion, as Allwebsolutions reports. The city is fast turning a hub of tech services that can make the digital economy easily accessible to all New Yorkers. New York City, just like San Francisco, has extended tax breaks so as to attract more tech. For example, Buzzfeed has bene given a $4 million tax credit and for its new 194,000 square foot and Etsy follows with a $5 million tax break for a new 200,000 square foot space in Brooklyn.
According to inc.com, the economic impact can be seen in the entire technology sector and with thousands of jobs getting generated. The Economics have risen to the talks of billions, and this is no small change. The tech job growth here is exceeding Silicon Valley's and the employment in technology has grown roughly 40 percent. Although the size of Silicon Valley's workforce is still way ahead than New York, the growth in New York has certainly been faster and higher.
