Economy – The Office that Never Sleeps

Business in Brooklyn

Posted October 2, 2014

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Brooklyn is the most highly populated of all of New York City’s boroughs along with being the second largest. In recent years the face of Brooklyn has changed from that of a hard-working blue collar employee, to a white collar professional. Thanks to some of the business initiatives started by New York City, the entire area has become a haven for technology start-ups. But Brooklyn is a borough that has added little something extra to its economic success and that has helped it to grow faster than many of the other boroughs.

Major Economic Drivers In Brooklyn

The Start-Up NY program has enticed entrepreneurs and new technology companies to set up shop in all five of New York City’s boroughs and it has made technology a major economic driver in Brooklyn. The Brooklyn Tech Triangle has become a focal point for growth and development in the area and it is helping to create an abundance of high-paying jobs for the people in Brooklyn.

The new technology companies in Brooklyn are affecting several other economic drivers for the city. The real estate and construction trades are having a hard time keeping up with the demand of the new technology companies. The new tech start-ups are innovating the infrastructure of Brooklyn and creating a variety of new jobs in that area as well. Technology, more than anything else, is completely changing the look of Brooklyn’s financial future.

See our article on New York Central Business Districts (CBD’s)

Major Industries And Employers In Brooklyn

Brooklyn is benefiting from the influx of technology revenue into the area, but the industries that have ruled in Brooklyn for generations are still going strong. The insurance and finance industries have always had a home in Brooklyn, and so have the transportation and food service industries.