More than 100,000 jobs and an average annual salary of $118,000 is in the high-tech industry, according to a report released by New York State’s Comptroller Thomas P. DiNapoli. The industry is growing four times faster than the rate of job growth in the rest of the city’s economy.
High-tech firms such as Google and Facebook have created 25,000 jobs over the last four years alone and have also created high-paying jobs for New Yorkers. New York City is attracting tech firms due to its high quality of life, its large creative workforce, its investment opportunities, and its public commitment to fostering a tech training ground through education and university partnerships.
“Investments in the New York City tech sector, like the New York State Common Retirement Fund’s, help create jobs across industries in all five boroughs. New York City has emerged as a global center for innovation and my administration is committed to leveraging all of our resources effectively so that technology companies start and thrive here,” said Mayor Bill de Blasio.
New York City is home to nearly 7,000 high-tech companies that design, manufacture, develop or maintain new technologies. These firms provided more than 103,000 jobs by the third quarter of 2013. Because of the high-tech industry creating well-paying jobs in a city where other traditional industries are not growing as quickly, the city’s economy has become diversified and has helped reduce the economic dependence on Wall Street. The high-tech industry also creates employment opportunities for those without a technical background.