Mar
14
On our blog, NYCEDC Chief Economist Michael Moynihan weighs in on NYC’s tech boom: Exits are important not only because they validate new technologies but also because they provide money to fund new rounds of investments. A roaring fourth quarter for New York State led to the highest growth rates in the nation in both VC funding and deals, ahead of growth in California and Massachusetts. Both the number of deals in the fourth quarter, 97, and their value, $572 million, represented a 24% increase over third-quarter figures. The number of deals was also approximately evenly distributed between Seed, Series A and later rounds, suggesting that financing is available at each stage of the fundraising process. Check out our infographic for more NYC Tech facts and stats.

On our blog, NYCEDC Chief Economist Michael Moynihan weighs in on NYC’s tech boom:

Exits are important not only because they validate new technologies but also because they provide money to fund new rounds of investments. A roaring fourth quarter for New York State led to the highest growth rates in the nation in both VC funding and deals, ahead of growth in California and Massachusetts. Both the number of deals in the fourth quarter, 97, and their value, $572 million, represented a 24% increase over third-quarter figures. The number of deals was also approximately evenly distributed between Seed, Series A and later rounds, suggesting that financing is available at each stage of the fundraising process.

Check out our infographic for more NYC Tech facts and stats.

Mar
12

NYC Tech City By the Numbers

New York’s tech dominance is growing. Deal volume and investments are up, outpacing growth in Massachusetts and California. Dig deeper into NYC’s VC trends and tech acquisitions of 2012; then learn how NYCEDC is a driving force behind NYC’s tech economy at nycedc.com/tech. 

Nov
23
Thanksgiving in New York There is little that epitomizes Thanksgiving in New York more than the Macy’s Thanksgiving Day Parade. This year is the 85th and about three million people are expected to watch on the streets of Manhattan, as well as 50 million viewers watching on TV at home. This spectacle includes floats, marching bands, and nearly 40 balloons (including 15 giant balloons). While across the country the Thanksgiving tradition is for family to congregate for their dinner at one person’s house, New York City does things slightly differently. Since living space is at a premium and apartments are tiny, it can be difficult to fit family and friends. Not to mention that some ovens are not large enough to fit a turkey. However, many of the City’s 15,000 restaurants are open and put their own spin on Thanksgiving dinner. Be prepared to spend, as the high end pushes the $100 per person mark. Even if you are prepared to cook at home Thanksgiving, it will be more expensive this year than last. Nationally, the cost of frozen turkeys has risen faster than inflation in 2011. And while we have heard that Staten Island has a large and growing wild turkey population, please remember that it is illegal to capture any of these for personal consumption. Cost of Frozen Turkeys and Inflation (January 2000=100)Source: Bureau of Labor Statistics StatsBee strikes again! Statsbee is a column featuring interesting statistics about NYC, written by economists at the Economic Research & Analysis department within NYCEDC’s Center for Economic Transformation.

Thanksgiving in New York

There is little that epitomizes Thanksgiving in New York more than the Macy’s Thanksgiving Day Parade. This year is the 85th and about three million people are expected to watch on the streets of Manhattan, as well as 50 million viewers watching on TV at home. This spectacle includes floats, marching bands, and nearly 40 balloons (including 15 giant balloons).

While across the country the Thanksgiving tradition is for family to congregate for their dinner at one person’s house, New York City does things slightly differently. Since living space is at a premium and apartments are tiny, it can be difficult to fit family and friends. Not to mention that some ovens are not large enough to fit a turkey. However, many of the City’s 15,000 restaurants are open and put their own spin on Thanksgiving dinner. Be prepared to spend, as the high end pushes the $100 per person mark.

Even if you are prepared to cook at home Thanksgiving, it will be more expensive this year than last. Nationally, the cost of frozen turkeys has risen faster than inflation in 2011. And while we have heard that Staten Island has a large and growing wild turkey population, please remember that it is illegal to capture any of these for personal consumption.

Cost of Frozen Turkeys and Inflation (January 2000=100)
Source: Bureau of Labor Statistics

StatsBee strikes again! Statsbee is a column featuring interesting statistics about NYC, written by economists at the Economic Research & Analysis department within NYCEDC’s Center for Economic Transformation.

Aug
09

NYC At-A-Glance 2011 Update

Take a look at the latest New York City population, employment, real estate insights and more, all in one place! Skim our factoids below and download the full NYC At-A-Glance 2011 Update report (PDF).

DID YOU KNOW…

  • New York City is the most populated city in the U.S. with well over double the population of the country’s second largest city, Los Angeles.

  • New Yorkers rank among the most diverse people in the country with 35.7 percent of residents born outside of the U.S. in 2009.

  • New York has become an even safer city in recent years. The City experienced double digit percentage drops in most major crime categories between 2005 and 2010 — specifically, an 11.2% drop in violent crime.

  • The sectors contributing to the employment gains in the City in 2010 are shown in the accompanying chart: the Professional and Business Services sector was the largest gainer, followed by the Health Care and Social Assistance, Leisure and Hospitality, and Educational Services sectors. More details above.

  • Average private sector wages in New York City were $81,800 in 2010, the highest of any of the cities that were examined and 1.7 times higher than average wages in the U.S.

  • New York City draws more tourists than almost any other city in the country and, in 2010, many other tourism related indicators showed gains. About 48.7 million people visited the City in 2010, a 6.8% increase from 2009 and the largest number of visitors since at least 2000. These visitors spend an estimated $31.0 billion.

  • The New York City housing market was not as badly affected as the U.S. during the aftermath of the housing burst. From 2001 to 2007, median housing values in the City appreciated 91.6% to $562,300, more than the 30% increase for the nation.

  • There are over 1,700 parks in the City. The most famous is undoubtedly Manhattan’s Central Park, which is the most visited park in the country. It covers 843 acres and draws tens of millions of visitors every year.