These neighborhoods are the epicenter of New York's tech boom.

New York is seeing a record number of tech workers flock to the city, drawing a talented workforce to its downtown and Brooklyn neighborhoods.

According to an analysis of LinkedIn data by the venture firm SignalFire, 14.3% of all tech workers who relocated within the United States last year were in the New York City metropolitan area, more than any other city.

“Technology is about human talent,” Kevin Ryan, co-founder of MongoDB, Gilt Group and Zola and known as the “godfather of New York tech,” told the Post. “New York is just a good city… talented people want to be here.”

“New York has more tech talent than it's ever had before,” says David Ulevich, a partner at Andreessen Horowitz, “and it's arguably the best city to live in for ambitious people.”

New York City attracted more tech worker relocations than any other U.S. city in 2023, according to data from venture firm SignalFire.

In fact, according to data from the New York State Comptroller's Office, New York City has 3.2 million college-educated workers — more than Los Angeles, San Francisco, Washington, DC, Boston, and Philadelphia combined.

Cathy Wilde, who runs the Partnership for New York, said nearly every region is seeing growth, adding that “our economy has become dramatically more diversified and much stronger since the pandemic.”

Here are some hotspots in the midst of the tech boom:

SoHo In recent years, major venture firms such as Jared Kushner's Thrive Capital and Andreessen Horowitz have expanded their footprints in SoHo. Google Maps

During the pandemic, pricey areas that already attracted established venture and tech companies suddenly became more affordable for startups looking for office space.

Startups such as Odeco, which makes software for cafes, and Titan, a sort of hedge fund for retail investors, join existing tenants such as ZocDoc, a healthcare booking software, and Percolate, a digital marketing company from MasterCard and Cisco.

David Urevich, a partner at Andreessen Horowitz (a16z), told the New York Post that he believes there is more tech talent in the city than ever before. Emmy Park, New York Post

“SoHo has become the tech hub of Manhattan since the pandemic,” said Jessica Schafer, managing partner at technology consulting firm Capital V. “I got the best space in SoHo for $50 a square foot on a five-year lease.” Space in SoHo typically trades for closer to $90 a square foot.

At the same time, venture capitalists flocked to the neighborhood.

Jessica Schafer told The Post that the fall in commercial real estate prices due to the coronavirus has made it easier for smaller startups to secure office space in trendy areas like SoHo.

“VCs find hot spots and they move there. We want to meet as many founders as possible,” Jan Simi, a venture capitalist at Partec, told The Post. “Founders want to put down roots in places where they can attract other team members.”

In recent years, major venture firms such as Andreessen Horowitz and Josh Kushner's Thrive Capital have expanded their footprints in SoHo.

Union Square and Flatiron Ramp are located in Flatiron. Both Flatiron and Union Square were New York's original high-tech hotspots, earning the nickname “Silicon Alley” during the dot-com boom of the 1990s. Google Maps

The Flatiron District and nearby Union Square were New York's original tech hotspots, earning the nickname “Silicon Alley” during the dot-com boom of the '90s.

Though some of the startups from that era have gone bust, the area remains home to some of New York's biggest venture capitalists and an array of new companies.

“From 23rd Street onwards, there are startups everywhere you look,” Urevtic said.

Julie Samuel, who runs Tech:NYC, helped organize the so-called Tech Week that brought together thousands of founders, investors and other key leaders in the tech ecosystem earlier this month. Tech:NYC/Octavius ​​Moore

Lux Capital founder Josh Wolf told The Post that the Flatiron area is “experiencing a surge in tech buzz and growth, particularly for AI-focused companies like RunwayAI and AlphaSense.”

There are still more established players, including DropBox, Yelp and telemedicine company Ro.

In addition to Lux, other nearby VC firms include Union Square Ventures and Kevin Ryan's Alleycorp.

Navy Yard NewLab is an incubator or startup support organization based at the Navy Yard with resources that have helped hundreds of startups. Emmy Park, NY Post

The Brooklyn Navy Yard, which began as a shipyard in 1802, is seeing a resurgence in manufacturing, especially among companies that produce physical technology.

New tenants include Near Space Labs, which uses balloons to take high-quality images and collect real-time data; portable data storage maker Nanotronics; and SolarMelz, which is developing new ways to remove ice and snow from roads.

SolarMelz CEO Jared Day told The Washington Post that he initially moved to the Navy Yard last year because it had a small space the company could afford, but he stayed because of the built-in opportunities to collaborate with other companies and the support of NewLab, a tech incubator at the Navy Yard that offers startups strategic advice, talent support and even customer acquisition.

“It's Electric was founded by Nathan King and Tiya Gordon.” Emmy Park, NY Post

“For a hardware or advanced manufacturing startup, being surrounded by other manufacturers is essential — you never know when you might need to borrow the neighborhood forklift or 3D printer!” Day told the Post, adding that NewLab helped him vet employees, interns and consultants, and also introduced him to New York City government officials.

The 300 acres between Williamsburg and DUMBO are home to more than 70 startups, including eight biotech and medical technology companies, 51 hardware, software and design engineering firms and 13 power and energy companies.

Stephanie Baez, a spokeswoman for the Navy Yard, likened it to an “ecosystem,” saying, “Companies are thriving here, co-located, doing hardware testing, light manufacturing and assembly that harkens back to the Navy Yard's origins.”

Army Terminal The Brooklyn Navy Yard, which began as a shipyard in 1802, is experiencing a manufacturing revival.

Built in 1918 as a munitions storage site, the Brooklyn Army Terminal is now home to climate-focused technology companies, including Enertiv, which helps cities reduce their energy consumption, and Conservation Labsm, which uses AI to monitor water consumption.

Earlier this year, Mayor Eric Adams pledged $100 million to turn the Army Terminal, located on 95 acres of land in Brooklyn's Sunset Park, into a “climate innovation hub.”

The Army Terminal is home to about 50 tech companies, including Trakref, which is developing a new type of refrigerant to reduce HVAC inefficiencies, and itselectric, which has announced several public electric charging stations to be installed throughout the city over the next few years.

Jeff Holmes, the terminal's director of public policy, said the region is “poised to capitalize on the huge economic potential of a growing green economy by supporting the development of the next generation of clean tech innovation and climate start-ups.”

Dumbo Dumbo is home to the $8 billion e-commerce giant Etsy. In 2016, the company moved into a $475 million complex that was once the Watchtower Building. Elena – stock.adobe.com

Dumbo is home to more tech companies than any other New York City neighborhood, according to data from the Partnership for New York. $8 billion e-commerce giant Etsy is perhaps Dumbo's best-known neighborhood company. The company was founded in Brooklyn in 2005 and moved into the $475 million complex that was formerly the Watchtower Building in 2016.

But there are plenty of other companies worth keeping an eye on: Digital agency Huge works with companies like Google, McDonald's and Verizon to improve their websites; Credosimple develops healthcare software; and Red Antler creates marketing campaigns for companies like Hinge and Allbirds.

Dumbo is home to more tech companies than any other neighborhood, and along with Downtown Brooklyn and the Navy Yard, it makes up New York's so-called Tech Triangle. AFP via Getty Images

DUMBO is considered part of Brooklyn's so-called Tech Triangle, along with Downtown Brooklyn and the Navy Yard, and it's also the city's most expensive neighborhood, but investors and entrepreneurs say it's worth living in the vibrant, up-and-coming space.

“Dumbo has been a great hub for the tech sector for a long time. There are a lot of people in New York who live in Brooklyn and work in Dumbo. They don't even go to Manhattan,” Julie Samuels, president and CEO of Tech:NYC, an organization focused on bringing tech talent to New York, told the Post. “Dumbo has its own ecosystem. It's vibrant and thriving.”

This story is part of “NYNext,” a new editorial series showcasing innovations and those leading the way across industries in New York City.

Sources 1/ https://Google.com/ 2/ https://nypost.com/2024/06/14/tech/these-neighborhoods-are-the-epicenter-of-nycs-tech-boom/ The mention sources can contact us to remove/changing this article

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