Is New York The Next Silicon Valley, Asks NY Fed

Between 2007 and 2014 the number of tech jobs in New York City grew 58%, compared to just 12% for the US overall and 36% for San Mateo – the original Silicon Valley. Inevitably this leads to the question of what whether New York will be the ‘next’ Silicon Valley, complete with funny nickname.

“When asked where tech firms in the city are located, many New Yorkers will mention Silicon Alley in Manhattan—roughly speaking, the area between the Lower and Midtown Manhattan skylines,” write NY Fed researchers Jason Bram and Matthew Ploenzke.

But they seem to be documenting the importance...