Various media sources report that New York City’s growing technology ecosystem has a broad impact on the city’s economy, generating more than half a million jobs, $50 billion in annual compensation, nearly $125 billion in annual output, and $5.6 billion in tax revenues. According to a report released by HR&A Advisors, about 291,000 people, or 7% of the city’s workforce, are employed in tech jobs. These include workers not just in the traditional tech industries, but also those in non-tech industries. The study also highlights developing tech company clusters such as the Brooklyn Tech Triangle, and recommends that the de Blasio Administration focus on supporting the tech industry, through education, workforce development, and infrastructure improvements. DBP President Tucker Reed has released a statement in support of the report’s recommendations.
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