New York Is the Nation’s Fastest Growing Tech Hub

New York City has become the fastest growing tech sector in the country.  Thousands of tech jobs have been added in New York City over the past few years, according to a new report by the Center for an Urban Future.

Since 2007, tech-related jobs in New York have increased by 28.7 percent from 41,100 to 52,900. And it would grow even more if enough engineering talent were available.

The study finds that New York tech startups are now more focused on applying technology to traditional New York industries such as advertising, media, fashion and finance, as opposed to building new technology.

Wall Street plays a major role in the evolution of New York’s tech scene, but for a very strange reason. According to Vivek Wadhwa, a serial entrepreneur and columnist for Bloomberg Business Week, “The success of the tech sector is inversely proportional to success of the financial services sector. Whenever the financial services sector is booming, they start hiring up all the engineers, offering ridiculous salaries. It distorts the environment.”

That lack of engineering talent continues to be a drag on New York’s tech growth and has many in the tech community calling for a relaxation of visa rules so that more talented immigrants could come to help keep the current tech boom. “Perhaps no other city is impacted as much by the nation’s backwards immigration system as New York, which as the nation’s most global city has long been well-positioned to attract the best and brightest from around the world,” says the report.

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Comments

  1. BY Fred Bosick says:

    “That lack of engineering talent continues to be a drag on New York’s tech growth and has many in the tech community calling for a relaxation of visa rules so that more talented immigrants could come to help keep the current tech boom. “Perhaps no other city is impacted as much by the nation’s backwards immigration system as New York, which as the nation’s most global city has long been well-positioned to attract the best and brightest from around the world,” says the report.”

    The best and brightest in the world caused the Great Recession. NY, NY could not survive as an independent nation. It takes resources and people from around the country to help make New York as great as it is. That means New York must also give back by hiring citizens from the country that supports it. There never has been a talent shortage. Let’s not use immigration as a free subsidy to technically intensive corporations.

  2. BY James Green says:

    I have applied for a lot of positions in New York and I have not received a single call. These corporatios want cheap h1b visas holders. These companies need to hire lagacy programmers Americans and re-train them before we make changes to the worker visa programs.

  3. BY ConfusedCountry says:

    If there is such a tech shortage, how come our salaries and contracting rates aren’t going up like they did in 1999? I think it is because companies would rather bring in more h1-b visa’s instead of paying more. Visa’s are only needed to help keep the rates low. With all this “talent shortage” I don’t know any programmers whose rates are going up, do you ?

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