New York Tops Bay Area for Tech Market Supremacy
Regarding the attributes that most attract top talent to a tech business, Silicon Valley beats New York only in weather and cost of living.An overwhelming majority (86 percent) of executives believe the New York tech scene is booming, according to a survey of 318 executives throughout the United States. The study, which was commissioned by 1010data and fielded by Instantly, found 44 percent believe that is because more venture capitalists and other investors are supporting New York-based technology companies, while 43 percent said it is because more New York tech companies are being acquired. City and state governments supporting the New York tech scene was cited by 42 percent of respondents as a reason for the boom, while the same percentage of respondents said New York tech companies are pulling from a better talent pool with Wall Street and nearby Fortune 500 companies, and 41 percent said it is because more New York tech companies are going public. "There is a tremendous concentration of companies in New York City, and they all consume technology and have for many years," Sandy Steier, CEO and co-founder of 1010data, told eWEEK. "Arguably, Wall Street firms are the largest and most sophisticated tech customers, and they need technologists to support that. So, it isn't surprising that NYC is so well-regarded as a center of technological excellence."
When asked to list which traits are more likely to be found in tech professionals in New York versus San Francisco and Silicon Valley, executives thought New Yorkers were more likely to show intensity, ambition, tenacity, practicality and analytical prowess.