NEW YORK, NY– The New York City Council has voted to approve the city’s flagship Tech Training Center in Union Square. Its expected that this unique project will add thousands of jobs to the big apple. The Tech sector is now providing a strong economic base to the city.
“The August 9th Council vote is a win for New Yorkers and a win for our city’s economy,” said NYCEDC President and CEO James Patchett. “The Tech Training Center will fuel the accessibility and growth of our city’s tech sector, connecting New Yorkers to good-paying jobs and local companies with space and talent to grow.”
The 240,000 square foot project will feature a tech-focused workforce development center, flexible space for growing startups, and market-rate office space for established tech companies. Included in this project is $200,000 a year in scholarships for low-income students and expanded non-profit training.
“More than just creating good jobs, this tech hub represents a real investment in cross-sector collaboration, workforce development, and the kind of infrastructure that will help all New Yorkers benefit from the growing knowledge and tech economies,” said Manhattan Borough President Gale A. Brewer. “I’m also thrilled that this project will provide a new home for New York’s tech community.”
In 2016 the number of tech firms in New York City reached 7,600, an increase of 23 percent since 2010. Total wages paid to workers in the sector doubled since 2010 to reach a record $18.9 billion in 2016.
“The NYC tech sector is home to over 325,000 jobs, and is growing at an unprecedented pace. Whether it’s fin-tech, fashion-tech, health-tech, or fill-in-the-blank tech, it’s happening in New York City, and at a scale that cannot be matched elsewhere. Our goal is to connect homegrown talent to these opportunities.” said Alicia Glen, Deputy Mayor for Housing and Economic Development.