June 14, 2019
Brooklyn is far ahead of Manhattan and the rest of the city in terms of growing its innovation economy, the Center for an Urban Future says in its latest study. The think tank reports that the borough’s “runaway success” in the tech, creative and manufacturing sectors has kicked its economy into higher gear than that of many other urban centers since the 2008 recession.
“Over the past decade, Brooklyn has outperformed the rest of New York City in these innovation industries, which have added thousands of well-paying jobs for New Yorkers, helped diversify the borough’s economy and given Brooklyn an important competitive advantage in a part of the economy that is expected to grow significantly in the years ahead,” according to CUF.
In creative industries, ranging from industrial design to marketing, Brooklyn’s employment base has grown by 155% over a 10-year period. That compares to 16% for Manhattan, says CUF.
Pictured: Industry City in Brooklyn
For comments, questions or concerns, please contact Paul Bubny