New York, NY

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New York, NY

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City Description

New York City is the most populous city in the United States. It exerts a significant impact upon commerce, finance, media, art, fashion, research, technology, education and entertainment. It is home to the United Nations and is an important center for international diplomacy. Situated on one of the world's largest natural harbors, New York City consists of five boroughs, each of which is a separate county of New York State.

The 2014 census-estimated population of New York City was 8,491,079 people distributed over a land area of approximately 305 square miles. As many as 800 languages are spoken in the city. In 2013, the New York's Metropolitan Statistical Area is estimated to have produced a gross metropolitan product (GMP) of approximately USD $1.39 trillion.

This section was filled in by the OppSites team using information source: Wikipedia: New York City

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Key Reasons for Investment

Over the last decade, the City has rapidly become one of the most innovative technology centers in the world. New York City companies received $4.6 billion in venture capital funding in 2014, up from $2.4 billion in 2011—a 91% increase that has contributed to the growth of the City’s $125 billion technology economy. The innovation economy is comprised of a variety of fast growing industry sectors, such as engineering, advertising and design, that have greatly outpaced more traditional sectors in employment.

The City has played an active role in efforts to foster the growth of the innovation economy. Since launching in 2009, the City’s incubator network has provided over 170,000 square feet of affordable real estate to approximately 1,000 startup businesses, which in turn have raised more than $180 million in venture funding. In that same time period, venture capital (“VC”) investments in City based startups have received over $8 billion in over 1,205 transactions. Across the United States, the City is the only major geographic hub that grew its share of VC funded deals to technology startups over the past three years.

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