Industry Expansion & Cultivation
New York City has seen very strong economic growth over the past five years. We must catalyze future growth through a more diversified economy with increased employment across a broader set of industries.
Challenges & Opportunities
New York City’s anchor industries like finance and insurance account for 30% of the city’s payroll, but they are only 9% of total employment. Supporting the growth of innovation industries will diversify our economy, create opportunities for growth, and reduce our city’s economic risk.
To grow a diversified economy that offers quality jobs to all New Yorkers, the City must unlock the potential for businesses—in traditional industries, the innovation economy, and small businesses—to grow and innovate.