New Report Quantifies Cornell Tech’s Role in Attracting Talent to New York City and Growing the City’s Tech Sector
Since its founding in 2012, Cornell Tech has played a crucial role in developing New York City’s tech talent, entrepreneurship, job creation, and fiscal prosperity. From launching more than 100 startups and educating thousands of new tech leaders to operating an 850,000-square-foot campus while planning future expansion, the energy coming out of the regional tech hub is undeniable. But what is its overall economic impact? A new analysis from economic development firm HR&A puts it into numbers – and they are massive.
In fiscal year 2022-2023, Cornell Tech, its alumni, and its startups based in New York City achieved $768 million in total economic impact and supported 2,800 jobs. And by 2030, Cornell Tech’s alumni and startups based in New York City are projected to generate $1.5 billion in annual economic impact while supporting 7,000 jobs, living up to its reputation as the single most effective economic development project undertaken by city government in recent decades.
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