High-profile purchases, leasing deals and hiring have seen technology companies threaten to upend Wall Street’s historic role as New York’s dominant industry.
of data centers across the world — making its Manhattan holdings a relative drop in the bucket.
While the tech industry was born in Silicon Valley, New York’s focus on the sector kicked into gear in the 2000s under Mayor Michael Bloomberg, whose eponymous data and financial intelligence company was the city’s largest tech tenant at the time. Bloomberg vowed to wrestle away New York’s reliance on the finance sector, launched initiatives and in 2011 spearheaded the $2 billion development ofThe bet has had a strong effect on both the tech and finance industries.
However, the information sector is closing in on financial services as New York’s biggest producer of economic output, according to figures provided toby the Partnership for New York. Citing data from labor market data company Emsi, the organization found that from 2015 to 2020, the information sector’s share of New York’s Gross City Product grew from 10% to 13%, while the financial services industry only rose from 18% to 19%.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cash-Rich Tech Companies Are Remaking Post-Pandemic ManhattanHigh-profile purchases, leasing deals and hiring have seen technology companies threaten to upend Wall Street’s historic role as New York’s dominant industry.
Read more »
Cash-Rich Tech Companies Are Remaking Post-Pandemic ManhattanHigh-profile purchases, leasing deals and hiring have seen technology companies threaten to upend Wall Street’s historic role as New York’s dominant industry.
Read more »
Rapper Young Thug sues over swiped bag that had cash, songsAtlanta rapper Young Thug says that an apartment concierge let an unknown person take his Louis Vuitton bag holding jewelry, money and about 200 unreleased songs. The performer sued the company that manages the apartment complex and its concierge company.
Read more »
Would You Rent Your Favorite Bag for Serious Cash?Violet Gross is turning your wardrobe into a revenue stream with Tulerie.
Read more »
Young Thug Sues Over Stolen Bag That Included Jewelry, Cash & SongsAtlanta rapper Young Thug said an apartment concierge let an unknown person take his Louis Vuitton bag holding about 200 unreleased songs and more than $100,000 worth of jewelry and cash.
Read more »
Truth Social could provide Trump with infusion of cash -- but critics are concerned about its contentDonald Trump's new social media app, Truth Social, could provide him with an infusion of cash -- but critics warn it could further the spread of misinformation.
Read more »