Study: Economic Impact of the Brooklyn Tech Triangle (Downtown Brooklyn, Brooklyn Navy Yard and Dumbo)
April 23rd, 2012
DUMBO Improvement District and Tech Triangle partners (the Downtown Brooklyn Partnership and the Brooklyn Navy Yard) commissioned an an economic impact study on the economic impact of the “Brooklyn Tech Triangle”. Here’s what they had to report:
The numbers speak for themselves: more than 9,000 jobs; $3 billion in economic output; and all of it could double by 2015. We couldn’t be prouder of how this industry is shaping the future of the Brooklyn (and New York) economy.
A few key take-aways:
- 188 tech/creative firms responded to the survey and DUMBO Improvement District Members made up 83% of them.
- More than 77% of our firms report that more than half of their employees live in Brooklyn. More than 31% say that 100% of their employees live in Brooklyn. Yah, we love it here too.
- 99% of firms already here want to stay and grow here and more than 76% of firms not yet here want in. Today the industry occupies 1.7 million square feet of space, primarily here and in the Brooklyn Navy Yard. That number will increase to 3.1 million by 2015. Wow. That’s a lot of demand. We know the market around here is tight already and we’re working to make more space available. Please reach out if you or a startup you know is having trouble finding space.
An infographic based on data from the study was created above.
Related, there are two venture capital and startup related events on Wednesday, April 25:
- D3: Dumbo Demo Day, hosted by Digital DUMBO & NYU-Poly at 6:15pm at 20 Jay Street, Suite 312
- Dumbo Startup Lab – VC Steve Berg Speaks on the state of NYC as a place for startups. 8pm at 68 Jay Street, #718
A link to the full report (Economic Impact of the Brooklyn Tech Triangle) can be accessed at brooklyntechtriangle.com/the-study/