State Comptroller: NYC’s Tech Sector Growing Quickly, Pays Well Above City Average
NEW YORK (CBSNewYork/AP) – New York City’s so-called “Silicon Alley” is booming, according to a new report from the state’s comptroller.
Comptroller Thomas DiNapoli said high-technology jobs have been growing four times faster than the rest of the city’s economy the past four years and paid an average 2012 salary of $118,000, about 50 percent higher than the citywide average.
DiNapoli said high-tech firms, ranging from small startups to global giants like Google, created 25,000 city jobs from 2009 to 2013. He added that “Silicon Alley” now stretches from Manhattan into Brooklyn and Queens.
“We counted just over 100,000 jobs and 7,000 companies citywide. That’s 25,000 more jobs than this core high-tech industry had four years ago,” said DiNapoli. “That’s a 33 percent rate of growth and that’s four times faster than the 8 percent rate of job growth in the rest of the city’s economy.”
The comptroller’s report focuses on companies that design, manufacture, develop or maintain new technologies, finding the city was home to nearly 7,000 such firms by the third quarter of last year providing more than 103,000 jobs.
WEB EXTRA: Read The Report (pdf)
He said venture capital firms invested $1.3 billion in 222 of them last year.
Mayor Bill de Blasio, who describes himself as pretty minimalist when it comes to tech, also sang the sector’s praises.
“We as a city fit this sector and it fits us so well because we are a global capital of creativity, innovation, communication,” said the mayor.
You May Also Be Interested In These Stories
- Police: Man Robs 3 Women, Including Mother Pushing Stroller, In The Bronx
- Macy’s To Pay $650,000 To Settle Racial Profiling Allegations
- De Blasio Pushes Bill To Raise School Bus Driver Pay
- Police: Suspects Sought In Westchester Mall Smash And Grab Robbery
(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)