New York City’s economy has traditionally been dominated by finance, real estate, and media. But tech may be taking hold as a staple of the private sector, according to a new report, "Building a Digital City: the Growth and Impact of New York City’s Tech / Information Sector," commissioned by Mayor Michael Bloomberg’s private foundation. The study gives some clues as to how New York pulled off what many other cities are desperately attempting to do: invent a tech startup scene.
Rapid job growth has made the city’s tech and information industry the second-largest contributor to the private sector economy by wages, according to the study. The tech sector is also booming in the outer boroughs of Brooklyn and Queens, while the...
