Growing Innovation Sectors, Focusing on Equity

A scientist in a lab coat and blue gloves looks through a microscope in a laboratory. Shelves with equipment and another person working are visible in the background. The setting is bright and organized.

NYCEDC is committed to the success of industries critical to our city’s current and future economy.

We work to ensure that more good jobs in these priority industries are available and accessible to all New Yorkers, and that diverse entrepreneurs and minority-owned small businesses are thriving. We achieve this by:

Our focus on equity and innovation cuts across industries, but is central to three key sectors: life sciences, tech, and the green economy.

Life Sciences

NYCEDC’s commitment to investing in life sciences has made the sector a cornerstone of the NYC economy. Through the City’s $1B LifeSci NYC initiative, we’re driving innovation in this multi-disciplinary sector that unlocks modern therapeutics and life-saving medicines, vaccines, diagnostics, and devices—all for the advancement of humanity.

Milestone

$3.1B

Life sciences’ contribution to NYC’s gross metropolitan product

The life sciences community is launching dynamic new startups and leading scientific breakthroughs that are improving health outcomes and enhancing quality of life.

The industry now contributes $3.1B to the city's gross metropolitan product and has seen an average annual growth of 50+ companies since 2016.

Mayor Adams, Governor Hochul Unveil Plan for First-Of-Its-Kind Job and Education Hub for Growing Health Sector

Aerial rendering of SPARC Kips Bay. A modern New York City scape with tall glass skyscrapers reflecting sunlight. The buildings are surrounded by trees and busy streets filled with cars and people. Balconies with greenery are visible. The word SPARC is on one of the buildings.
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Scientists wearing lab coats and gloves work in a modern laboratory filled with equipment and tools. They are focused on various tasks at separate stations. Large windows in the background let in natural light.

LifeSci NYC

The City’s $1B initiative to cement NYC as the leader in life sciences innovation

The Vision:

  • Connecting research to industry

  • Unlocking life sciences space

  • Building a diverse pipeline of life sciences talent in NYC

Tech

Today, NYC stands as a booming global tech hub—and NYCEDC is committed to nurturing and developing the city’s diverse tech ecosystem. The diversity of the NYC workforce gives tech companies—whether startups or established industry players—the opportunity to draw from a diverse talent pool unmatched anywhere else in the country, including Silicon Valley.

Milestone

330K

The NYC tech workforce, second-largest in the world

NYC has more tech jobs than finance jobs, with tech cutting across all of our traditional industries, from finance (fintech) to real estate (proptech) and media, while also shaping new and emerging sectors.

NYCEDC is focused on building a tech talent base that is representative of the diversity of New York, empowering historically disadvantaged groups to overcome the historic barriers to entry in the innovation economy through initiatives like the Cyber NYC Internship Program and Venture Access NYC.

Header image of Venture Access NYC program page. A diverse group of people in a modern office setting. A woman is standing and gesturing while a man sits on a desk, listening. Another person works on a computer in the background. Colorful sticky notes are visible on the glass wall.

Venture Access NYC

Building a more inclusive and representative tech ecosystem for founders and funders.

A Suite of Programs:

  • Founder Fellowship: for startup founders from underrepresented backgrounds

  • Venture Access Alliance: for venture capitalists who share in the goal of building a more diverse and equitable tech ecosystem

  • Venture Career Program: for diverse New Yorkers looking to break into the venture capital (VC) industry

The Green Economy

Milestone

100%

NYC’s nation-leading clean energy goal by 2040

NYCEDC is a key player in catalyzing investments to deliver the green economy—a set of industries that provide solutions to address the existential risk of climate change; drive job creation, investment, and industry diversification; and put human well-being at the forefront.

Investing in the green economy will enable the public and private sectors to deliver on ambitious climate and decarbonization goals, and support the equitable recovery, growth, and diversification of New York City’s economy.

Offshore wind farm with a platform on yellow supports in the foreground and several wind turbines in the background. A vessel is visible on the left, surrounded by calm sea under a blue sky with scattered clouds.

Offshore Wind NYC

~$200M initiative leveraging the city’s expertise in maritime infrastructure development

Three Core Strategies

  • Sites and Infrastructure: Developing best-in-class infrastructure

  • Businesses and Workforce: Preparing local workers and businesses 

  • Research and Innovation: Promoting innovation in offshore wind 

Explore our work to learn more about what we’re doing every day to advance equity across industries in the NYC economy.

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