New York is finally giving Silicon Valley a run for its money. The Savills Tech Cities Index, a report by real estate firm Savills plc, ranked New York City as the premier tech city — surpassing San Francisco and London.

Looks like Syracuse University students don’t need to escape to northern California for a job in the technology sector. The report looks at 30 cities around the world and uses metrics such as inward venture capital investment to determine which cities are at the forefront of global technology.

“New York City has reinvented itself repeatedly over the course of its history. An economy as rich, diverse and dynamic as New York’s can transform itself into almost anything that is economically relevant,” said Jeff Furman, professor of strategy and innovation at Boston University.

Silicon Valley’s economy is dominated by the technology sector, but in New York there are a wide array of industries that are all in demand for more tech workers. New York City alone has seen the establishment of more than 7,000 startups, per The New York Post. This means there are opportunities to work in both small and large companies.

“Corporate conglomerates are actually rich places for entrepreneurs because it results in a lot of spin-off companies. Those types of firms typically attract individuals, train them and equip them with the managerial skills required to lead their own ventures,” Furman said.

It’s important to acknowledge that the Savills plc report offers the perspective of emerging technology cities. Silicon Valley still remains ahead of New York in terms of the number of start-ups, as well as the amount of venture capital raised there.

But, New York is the best place for SU students interested in a job in tech because of the rapid growth the city is witnessing. And, the reputation and network of alumni doesn’t hurt, either.

Jason Dedrick, a professor at SU’s School of Information Studies, said “New York is a more natural place for SU students to look for jobs. Employers in New York City know Syracuse, and there is a lot more depth in the job market.”

One thing’s clear: New York remains a clear choice for any SU student looking for a wide array of job opportunities, especially in technology.

Santiago Hernandez is a sophomore finance major. His column runs bi-weekly. He can be reached at sherna06@syr.edu.

Published on February 20, 2019 at 10:43 pm