NY ranked second in a recent nationwide report by CBRE on technology sector job growth. Though the 22% job growth and 17% rental growth came in lower than San Francisco’s 41% and 44% respectively, NY did come out higher than Silicon Valley’s 18% and 26% respectively. In an interview with The Epoch Times, co-author of the report, Colin Yasukochi, credited the strength to the intersection between media, entertainment and technology.
The growth is demonstrated through the increase in New York Tech Meetup memberships as well as the increased number of accelerators, which help fund NY startups. Erik Grimmelmann, Vice Chairman of the New York Technology Council said Silicon Valley and San Francisco have higher growth rates than NY due to their head start. Larger companies such as Facebook, Google, and Twitter expanded in California before recently coming to NY.