Why New York

There has never been a better time to live and work in New York City. Residents of this vibrant city enjoy easy access to global markets, a diverse and international population, and some of the highest quality of life in the United States.

NYC welcomed a record 60 million visitors in 2016

Market Info

With a market boasting 8.6 million potential customers – and more than 25 million in the metro area – the economic opportunities in NYC are endless.  With its strong economy and infrastructure, global workforce, and cross-industry innovation, it’s no wonder that NYC is considered the business center of the world.

  • NYC is the #1 city in the U.S. for fast-growing businesses.
  • 50% of NYC businesses are owned by foreign-born New Yorkers.
  • NYC tech firms raised over $4.5 billion in venture capital in a single year.
  • NYC is ranked as the best city in the world for women entrepreneurs.
  • NYC has a Gross Annual City Product of $678 billion.
  • NYC has more Fortune 500 companies than anywhere else in the world.
  • Tech companies like Samsung, Google, Facebook, and Amazon are expanding their presence in NYC at an unprecedented pace.

Leading Industries

  • NYC is a world leader in finance, insurance, fashion, media, real estate, creative industries, and food.
  • In addition, NYC has seen significant growth in the following sectors, and is investing even further in strengthening these areas of NYC:


  • NYC is the fastest-growing tech hub in the United States.
  • NYC’s tech ecostystem accounts for over 291,000 jobs and over $124.7 billion in economic output.
  • NYC’s tech firms raised over $4.5 billion in venture funding in 2014, second only to Silicon Valley.
  • The NYC tech sector has grown quickly over the last ten years, and has a number of intersections with other industries that are strong in NYC. This is sometimes referred to as the “hyphen-tech” strength of NYC.
  • NYC has a network of over 17 City-supported incubators that offer low-cost space, shared resources, and connections for tech companies covering a range of tech sectors.  There are also dozens of fantastic privately-run incubators and accelerators serving every industry.
  • The City also runs a digital hub that helps companies in the tech/startup world find each other, find funders, and find all the resources they need to succeed!

Smart Cities and Clean Tech

NYC is helping to solve the most pressing sustainability challenges facing our city and other cities globally.  With the United States’ largest municipal market in energy, waste, water, and transit, NYC offers a living lab for urban technology companies and entrepreneurs. From deploying resiliency technology, to hosting demonstration pilot projects, to supporting entrepreneurs with office space and shared resources, we’re making NYC into the world’s model for a smart, sustainable, and resilient city.

NYC has the world’s largest concentration of academic institutions

Life Sciences

NYC provides world-renowned research, talent, and resources in the Life Sciences industry.

  • Scientific talent: the New York metropolitan area has the largest bioscience workforce in the country, according to a battelle study.
  • Research: $1.4 billion in National Institutes of Health awards – NYC is ranked #2 in the United States.
  • City of Science: NYC has the world’s largest concentration of academic institutions, with nine major academic medical icenters including Columbia University, Weill Cornell Medical College, NYU, Albert Enistein College of Medicine, and The Rockefeller University.
  • Existing Life Sciences Cluster: Over 120 life sciences companies already call NYC their home.

LifeSci NYC

NYC recently launced LifeSci NYC, a $500 million investment to vault NYC to the forefront of research and innovation. The funding includes real estate development opportunities, incentives, incubators, matching funds for early stage companies, and a new campus.

Focus industries

New York is a major center for Fashion & Apparel, Financial & Insurance Services, Food & Beverages, Metals, Machinery & Engineering and Life Sciences.

Learn about our Focus industries.