In a city like New York, a constant round of Business planning and development is the rule, rather than the exception. New York City is comprised of five boroughs, each of which competes for market share of technology business initiatives to increase employment, as well as to create a solid business base.
The Boom in New York City Tech Initiatives
One of former Mayor Bloomberg’s major initiatives was to create greater competition with Silicon Valley by providing funding for hi tech industries in New York City. Mayor di Blasio has continued this trend to New York City’s advantage. New York City has continued to extend tax breaks to attract technology companies, with Buzzfeed being granted a four million dollar tax credit at the end of Decemeber, 2014, for its new 194, 000 sq/ft headquarters. Another company to benefit from a tax break was Etsy, with a five million dollar tax break and 200, 000 sq/ft of office space in Brooklyn.
More than $1.7 billion has been acquired through venture capital investments, according to PricewaterhouseCoopers and the National Venture Capital Association, a rise of 138 percent. Evidently, tech initiatives and media disciplines are aiming to help New York City achieve goals competitive with the rest of the world.
Business Initiatives in NYC
Part of any well-structured business initiative in New York City is the ability to provide employees with advanced skills and talents to fill jobs in a wide range of New York industries. Advertising and graphic arts design are two of the most valued types of employment skills that are required to promote business initiatives. One of the best sources in New York City is the NYC Tech Talent Pipeline, an initiative that mainly promotes the city’s tech ecosystem and is a recognized source for providing top talent for tech companies. NYC Tech Talent integrates their interface with some of NY City’s most prominent industries to form a cohesive resource that reinforces the city’s planning and development of a competitive hi-tech base. With advantages that include excellent accessibility to transportation and a wealth of information resources, it is hoped these business initiatives will have the potential to make New York City an even more highly developed tech hub.
Business Initiatives in Progress in NY City
Another resource for business initiatives in NY City is the NYC Business Acceleration (NYCBA). NYCBA is dedicated to assisting food and beverage, retail and industrial businesses in startups and to help with smoother, faster business operations. In the wake of Hurricane Sandy, the NYCBA also provides assistance to businesses recovering from disaster. NYCBA assists businesses from conception and client management, to execution, planning and review, consultations, and inspections from various City agencies. The basic intent of the NYCBA is to help create distinct, unique neighborhoods throughout the five boroughs. For small businesses, NY City business initiatives include assistance from the Department of Small Business Services (SBS). Small businesses owners will find this is a great resource for planning, finances, study courses, funding for training and hiring, as well as Minority/Women-owned Business Enterprise Certification, incentives and navigating government requirements.
Other NYC Business Initiatives
In addition to the SBS for small businesses, there is also the SBS Neighborhood Development Division (NDD). This program helps ensure successful commercial districts throughout the five boroughs. The NDD works with organizations to invest in “streetscape” improvements, business attractions and property development. The goal of the NDD is to ensure vitality of commercial districts through creation of opportunities for small businesses and each community served.
The efforts of the NY City government, entrepreneurs and commercial enterprises work together to continue to create a city of enviable tech talent, with the hopes of even more technology companies and innovators gravitating to New York City.