NY continues to rise in the charts in terms of IT in the United States. According to Techi, NY is bested only by Boston in terms of this ranking, while Silicon Valley still remains the main IT hub. Big companies, such as Google, have gained more and more interest in opening an office in NYC. The city has also managed to increase tech related jobs by 28.7%, and has formed 486 digital startups since 2007, in spite of the recession.
Venture Capitalism in NY has also seen a 32% increase, while the rest of the U.S. and other industries have seen a decline. This increase in the fashion, finance, and media industries may be due to an upswing in social media marketing. Jobs in IT have increased eight times faster than jobs in the private sector in NYC.