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Post-Amazon, New York’s tech sector is still growing

When Amazon pulled out of plans to establish a new corporate headquarters in Queens, delivering a blow to the tech industry insiders and elected officials who had toiled to attract the internet giant, some worried that it would send a harmful message to other tech companies thinking about locating in New York. Amazon’s unfriendly reception – from labor groups, activists and some local lawmakers – could scare off future tech growth, a series of HQ2 postmortem headlines claimed.

But those fears haven’t been borne out, at least not yet. “Losing Amazon was obviously a blow to the potential growth of the tech economy in New York, it was the largest economic development deal in the history of the state so it's very hard to replace that as such,” said Howard Zemsky, president, chief executive and commissioner of Empire State Development, New York’s chief economic development agency. “But all of the qualities that the city and the state offer to tech companies are still intact, obviously. So we always imagined that we'd continue to grow the tech economy in the city and the state, and that continues to be the case.”

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