Study Finds $251 Million Economic Impact from NYC Incubators
Economic output expected to nearly triple by 2015, with 900 new jobs growing to 2,500
- C. Daniel Baker for blackenterprise.com July 26th, 2013
- Source: http://www.blackenterprise.com/small-business/economic-impact-nyc-incubators/
Today marks the fourth anniversary of Polytechnic Institute of New York University (NYU-Poly)’s public-private incubator initiative in NYC.
An economic impact study was conducted by Dr. Jill Kickul, director of the NYU Stern School of Business Program in Social Entrepreneurship to study what impact these incubators, or “innovation centers” have had on the city.
The impact study reports that three NYU-Poly-operated incubators had generated $251 million in economic activity since 2009, created more than 900 jobs and contributed $31.4 million in local, state and federal tax revenue.