Brooklyn Tech BROOKLYN-USA.ORG
Study shows Brooklyn is second only to
San Francisco in growth of tech startups
The New Lab at Brooklyn Navy Yard showcases the recent spike in tech growth. Rachel Wolfe
A recent report revealed that
Brooklyn is emerging as one of
the nation’s fastest growing tech
hubs, surpassing Manhattan and
ranking second to San Francisco.
The study shows that Brooklyn
has experienced a 365 percent increase,
outperforming all but one of
the nation’s 17 major tech hubs.
The report was researched and
produced by the Center for an Urban
Future, who collaborated with
Downtown Brooklyn Partnership,
Dumbo Improvement District,
Brooklyn Navy Yard Development
Corporation, and Industry City.
“Brooklyn is quickly becoming
the innovation capital of New
York,” said Brooklyn Borough President
Eric L. Adams. “My administration
has made a concerted effort
to ensure that our borough attracts
cutting-edge companies. That’s why
we helped found a Brooklyn STEAM
8 ONE BROOKLYN | SUMMER 2019
Center in the Brooklyn Navy Yard
and invested millions in capital
funding toward equipping students
with skills for the modern economy.
This report by Center for an Urban
Future shows those investments are
paying off.”
Data from the report also shows
that Kings County has seen a 155
percent growth in creative industry’s
within the last decade.
Brooklyn has experienced job
loss in the traditional manufacturing
sense, but because of net job
gains in areas like jewelry and electrical
equipment manufacturing,
Brooklyn managed to increase its
numbers.
In the New York City area, Brooklyn
has 9.2 percent of New York
City’s tech start-ups, compared to
6.3 percent in 2000, according to the
data.
“At the cross section of arts and
tech, Brooklyn has become a hub for
innovation and growth, outperforming
the rest of the city in attracting
and growing companies at the cutting
edge of their industries,” said
Regina Myer, president of the Downtown
Brooklyn Partnership. “And
with a population set to eclipse Chicago’s
by 2020, the borough serves as
a model for cities around the world.
This report clearly demonstrates
that New York City is no longer a
synonym for Manhattan — Brooklyn
is on the map.”
In the area of start-ups, Brooklyn
had 1,205 tech start-ups in 2018, up
from 264 in 2008. The growth that
Brooklyn has recently witnessed
can be attributed to the abundance
of industries that are fueled by invention,
creativity and technology
due to the nation’s recent interest in
these fields.
The report also provides new data
about the size and reach of Brooklyn’s
economy. The data breaks
down the scope, along with providing
information about the sub-fields
that have been growing the fastest
in Brooklyn. While many believe
Manhattan has more start-ups than
any borough, data revealed that
Brooklyn has as many start-ups as
Queens, the Bronx, Manhattan and
Staten Island combined.
“The innovation economy has become
a vital new engine of growth
for Brooklyn,” said Jonathan
Bowles, executive director of the
Center for an Urban Future. “Innovation
industries have added thousands
of well-paying jobs across
Brooklyn, helped diversify the borough’s
economy, and given Brooklyn
an important competitive advantage
in a part of the economy that is expected
to grow significantly in the
years ahead.”
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