Tech industry consistently proves to be a growth engine for NYC and key player in the strength of the office market.
JLL’s latest NYC Tech Monthly reported that New York City high-tech employment expanded year-over-year by 4,200 jobs or 7.0 percent in April—the largest expansion among all the major industries.
Other highlights of the report include:
- Tech venture capital funding continued to climb in May, building on April’s surge. 37 companies secured $649.3 million—the largest funding round in the last 12 months
- In May, Manhattan tech leasing activity was robust with 11 transactions totaling 839,742 square feet—a sharp improvement from the 242,344 square feet leased in April
- Leasing activity was heavily concentrated in Midtown South, where 10 of May’s 11 tech leases were signed
Read the report for further insights.