Why The Tech Industry Loves New York

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A lot of industries, including the automobile, fashion, and even the New York therapy industry, have been eyeing on doing developments in the city that never sleeps. And so is the tech industry, which is planning on making expansions in New York. This move, according to experts, can be a highlight of the city’s reign as the main technology hub and the dominion of its colossal talent pool.

There are two major companies that are head to head on this technology buildup. Google is one. According to the Wall Street Journal, it is planning on strengthening its presence in great Manhattan. Amazon.com is the second huge company that might be closing a deal with New York’s leaders to establish another headquarters to Long Island City, as reported by the New York Times. Businessmen and policy experts say that these companies are eager to be part of the city’s diverse workforce and manpower, which has transformed it over the years into a vital tech fortress and magnifying the industry’s mark past the coastal regions.

Executives from Tech NYC, a group representing New-York based technology firms, say that it is the expertise, education, and the city’s access to money and customers is what makes New York a thriving environment. These huge companies and their workforce are drawn to the city’s indispensable features in culture, arts, restaurants, bars, cafes, and neighborhoods linked through various types of public transportation.

New York’s tech trade recently employs more than 300,000 people. That’s according to Karen Bhatia, vice president at the New York City Economic Development Corporation. Also, the city officials have spent money preparing its youth to add and join the ranks. The 120 colleges and universities produce nearly 5,000 computer technology graduates every year. Bhatia believes that New York can be the melting pot for infrastructure.

 

Google And Amazon

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Amazon.com has not given sufficient information on the job listings for the planned headquarters, although it has disclosed that it will be opening high-paying jobs. Most likely, it will be looking for computer engineering positions and paying them six figures. The demand for tech experts has also allowed workers to ask for higher salaries. This is why tech companies are fighting to acquire the best workers, even boosting the cost of living in NYC.

Both Google and Amazon are expanding their workforce in New York. Amazon employs over 2000 individuals in the city. This gigantic online company could very well manage to bring in more than 20,000 workers to the area the minute it opens its second headquarters. Google, on the other hand, is responsible for employing 7,000 people in NYC out of its over 90,000 workers across the globe. Per the Journal report, Google plans to employ an additional 12,000 more workers. Unfortunately, both companies refused to comment on these matters.

 

New York – The City Of Success

Tech entrepreneurs and investors say that some people belittle the city’s accomplishment as a tech hub because it still hasn’t generated a super huge company that levels with Facebook. Additionally, its tech department is masked by various first-class industries that are local to the area, including advertising and finance. But year after year, investments in the technology field have grown significantly and at a relatively faster pace. In fact, according to NYCEDC, tech start-ups increased to 40% from 2016 to the present, reaching a $12 billion increase in venture capital.

Undeniably, the city of New York rules the East Coast and is projected to rule and grow continually, primarily because of the never-ending supply of human talent. Says Kevin Ryan, chairman of Alley Corp, a group of start-ups, “It is the people that make up the tech companies. Unlike the other industries, people are vital in making the technology field succeed.”

What makes New York City outdo the other states is that technology is one of the top ten most essential fields, next to publishing, fashion, music, and finance. Technology has a large space to expand, and people can do great things with it, but still, no one finds out easily about someone at a party. That is the beauty of New York. Privacy still exists despite technological growth.

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While it is true that New York is known for its expensive way of life and its crowded public transit system, the tech section has not brought the disrespect of its critics who consider the Bay Area’s housing problem, Silicon Valley’s limited nature, and the particular focus on technology.

 

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