Downtown’s Polytechnic Institute of New York University (NYU Poly) claims a big economic footprint, according to a new study:
- $251 million in economic activity for the city,
- 900 new jobs
- $31.4 million in new tax revenue.
- There have also been five companies from NYU Poly incubators acquired, for a total of $50 million.
The study comes from Dr. Jill Kickul, director of the NYU Stern School of Business Program in Social Entrepreneurship.
The university has founded three incubators so far, two in Manhattan and one in DUMBO. A fourth, the Clean Technology Entrepreneur Center, is planned for downtown, at 15 Metrotech.
From NYU Poly:
The economic impact study was conducted between October 2012 and January 2013. The study team surveyed all 102 startups that have been in the incubators, met with 24 current tenants and 11 graduated companies, analyzed available data and applied standard economic formulae to determine the economic activity generated by the NYU-Poly incubators.
A detailed presentation of the study’s findings can be downloaded here.
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