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Explainer

NYC Is Talent

Apr 12 2021
NYC: A Global Talent Pool

New York City is a place like no other, defined by diversity, dynamism, ambition, and connectivity. It has evolved over time, across industries and disciplines, spurred by innovative thinking, creativity, and grit—but always remaining at the center of everything.

A Global Talent Pool

One way that the city has been able to remain a global economic hub for centuries—even in the face of economic change—is the depth and breadth of its talent. NYC is home to the nation’s largest talent pool, at over four million, with roughly 3.2 million New Yorkers holding a bachelor’s degree or higher—more than Los Angeles, San Francisco, Philadelphia, DC, and Boston combined.

And that makes a real difference for companies looking to gain a competitive advantage. In today’s truly globalized market, businesses need access to high-quality, diverse talent. And the breadth and diversity of talent on offer here is unparalleled:

  • The city’s workforce is 45 percent foreign-born, from over 150 countries.
  • There are over 200 languages spoken in NYC.
Cornell Tech, Photo by Iwan Baan
Cornell Tech

Commitment to Talent Through Education

The City is committed to nurturing and growing that diverse talent pool through its pioneering and innovative education system.

The City boasts the largest public school system in the country and was a national leader in establishing universal pre-K education. The City has built upon these successes with the CS4All (Computer Science for All) initiative—ensuring that all public school students learn computer science, with an emphasis on female, Black, and Latino students. CS4All gives students the opportunity to learn computational thinking, problem-solving, creativity, and critical thinking—skills that will be integral to student success in higher education, the 21st-century job market, and beyond.

At the collegiate level, NYC is home to the City University of New York (CUNY)—the nation’s largest public university system, serving 500,000 students of all ages and awarding 55,000 degrees each year. CUNY is also a cornerstone of the NYC economy, giving tens of thousands of New Yorkers the skills they need to compete in the 21st-century economy. The public university system is also an unmatched engine of upward economic mobility, helping New Yorkers ascend into the middle class.

NYC is also where some of the leading law, business, medical, engineering, maritime, design and fashion, and film schools in the country are, such as Columbia, NYU, and Jacobs Technion-Cornell Institute. With over 1 million college students across over 120 colleges and universities, NYC has an abundance of top talent, whatever your hiring needs.

A Diversified Economy

Lots of people think of NYC as a city dominated by finance, media, and real estate. But we’re much more than a one-industry town. In reality, the city is a thriving, interconnected ecosystem, with all the ingredients for business success across every sector, including cybersecurity, life sciences, urban tech, fashion, advanced manufacturing, healthcare, food production, and logistics.

The bottom line: Whatever industry you're in, whatever skillset you're looking for, you'll find the talent you need in NYC. As this graph shows, the city is home to a robust, diversified economy, with skilled talent across every sector:

NYC Employment Chart
Source: New York State Department of Labor

Some highlights of NYC’s diverse economy include:

  • A rapidly expanding life sciences sector—with NYC-based jobs in the industry expected to grow 11 percent by 2025—and the City planning to invest in 3 million square feet of additional life sciences space, 100 new startups, and thousands of new life sciences jobs
  • A rising film and media sector, highlighted by the planned Made in New York (MiNY) Campus in Sunset Park, Brooklyn—a 500K-square-foot film and television production hub that will bring an estimated 2,200 new jobs to Brooklyn, significant investments to advance diversity and equity in the NYC media and entertainment industry, and workforce development initiatives designed to empower local residents
  • A burgeoning off-shore wind industry, anchored by what will be one of the nation’s largest off-shore wind turbine assembly plants at South Brooklyn Marine Terminal, which will create over 1,000 local manufacturing jobs.

The venture capital world is taking notice of growth opportunities in the city, with NYC-based companies landing $7.6 billion in late-stage venture funding just in the first quarter of 2021—putting the city on track for a record-breaking haul. And with the development of a local tech eco-system rivalling silicon valley, it’s no surprise that the big players in tech—including Google, Facebook, Apple, and Amazon—have made major investments in NYC in 2020 and 2021.

NYCEDC: Your Front Door to the NYC Workforce

NYCEDC connects New Yorkers to the skill-building and training opportunities that enable them to succeed in the thriving NYC business ecosystem. And as the front door to the NYC workforce, we then help connect your business to the city’s unrivalled talent pool.

We do this by creating workforce development opportunities that help New Yorkers from all backgrounds succeed in 21st-century industries. Although tech has become a major driver of new job growth in the city, too few of those jobs are going to low-income New Yorkers or those from underserved communities. That’s why NYCEDC is making the investments to build a more inclusive workforce and position New Yorkers to succeed in jobs of the future through initiatives such as:

  • Commissioning research reports to explore innovative approaches to increase the training and hiring of underrepresented New Yorkers in tech and other in-demand sectors
  • Establishing a scholarship program that provides free tuition to the Fullstack Cyber Bootcamp, the official cybersecurity bootcamp of New York City, increasing access to cybersecurity skills training for low-income New Yorkers financially impacted by COVID-19
  • Investing in tech equity through the Union Square Tech Training Center, a $250 million project that will bring together best-in-class programs offering affordable digital skills training for New Yorkers seeking to join the 21st century economyall in wired, open, and accessible workspaces.

On top of that, the city is home to a vast network of workforce development programs, including 20+ accelerated tech training organizations across the five boroughs. And we at NYCEDC can leverage our expertise to connect you to these programs, including:

Explore our Workforce Development Guide to learn more about how NYCEDC can help you hit the ground running in NYC.

Make it Happen in NYC

No matter your company’s size or sector, NYC has the talent to meet your business needs.

Contact our business development team today for one-on-one assistance with your expansion or relocation plans.

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