An Economic Snapshot of Brooklyn, May 2014
Over the past decade, Brooklyn has expanded at a rapid pace by attracting new businesses and residents.
Over the past decade, Brooklyn has expanded at a rapid pace by attracting new businesses and residents.
Washington Heights and Inwood extend from 155th Street in Manhattan to the northern tip of the borough. The area has a rich history, and immigrants account for nearly half of the population.
New York City, like the nation, has been built by immigrants. People from around the world have come to New York City seeking the freedoms and opportunities woven into the American dream.
The Asian community is the fastest growing racial or ethnic group in New York State. The number of Asian New Yorkers (1.8 million) has more than doubled since 1990, and Asians accounted for 9 percent of the State’s population in 2014.
September 11, 2001, was a tragic day for the nation, one which will never be forgotten. In New York City, the terrorist attacks took the lives of more than 2,700 people, including hundreds of first responders. There was extensive damage to property and infrastructure, and the economy of the City, and of Lower Manhattan in particular, was shaken.
The Greater Sunset Park area of western Brooklyn is a dynamic area with residential communities, strong commercial corridors and one of New York City’s largest manufacturing and industrial centers.
The Greater Jamaica area in Queens fell on hard times during the 1970s, but has been slowly recovering.
The terrorist attacks on September 11, 2001, resulted in the destruction of 13 million square feet of office space at the World Trade Center complex. Since 2001, 38 million square feet of space have been added in New York City, with more than half added in the past five years alone.
The technology sector in New York State has grown rapidly since the end of the Great Recession, adding more than 57,000 jobs.
Bedford-Stuyvesant is one of the many neighborhoods in Brooklyn to experience a resurgence. In the past 15 years, the population has grown by one-quarter and now exceeds 150,000 people.