Manhattan been New York City’s most successful borough for a quite some time. One of the reasons for Manhattan’s success is its ports and trade businesses. Along with the incoming and outgoing trade, there are the associated business that pop up such as customs brokers and trade agents. Thanks to its seaports, Manhattan has always had a strong financial foundation to rely on.

Manhattan is also known for its skyscrapers and dynamic downtown region. The terrorist attacks of September 11, 2001 destroyed the World Trade center and its iconic Twin Towers. But in place of the destruction, another iconic Manhattan office complex has risen and stands as a testament to the durability of the Manhattan economy. With so much going for it at any given time, it is easy to understand why people are so excited about the economic future of Manhattan.

Main Economic Drivers In Manhattan

The seaports are always alive with activity, but the main economic driver in Manhattan is its downtown real estate. When the real estate values in Manhattan fell in 2011, the area experienced a financial challenge that saw a major part of its economy go stagnant. But as downtown property values increase, so do the fortunes of the Manhattan economy.

Another economic driver for Manhattan has been the significant success of the Start-Up NY campaign. This is an initiative by New York State to entice technology and medical start-ups to base themselves in New York State colleges and other parts of the state. The result has been a significant increase in technology companies in Manhattan’s downtown office spaces and this new influx of business is driving up the real estate prices.