(Image courtesy of Brooklyn Tech Triangle)
The Brooklyn tech scene continues to grow, and grow fast, according to a new report that came out this week from a trio of BK biz boosters.
In just the last three years, the number of tech/innovation companies in the Brooklyn Tech Triangle (roughly the Navy Yard to Atlantic Terminal to Dumbo) has increased 22 percent, and the number of employees has increased 45 percent, according to the report. And it doesn’t stop outside of Dumbo, either.
“In response to a lack of available commercial space, we have already seen a ripple effect of the Tech Triangle to the north in Williamsburg and to the south in Sunset Park, as tech and design companies are drawn to these areas for their availability, affordability, and proximity to the Brooklyn Tech Triangle,” the Brooklyn Tech Triangle 2015 update states. (The Tech Triangle project is the work of the Brooklyn Navy Yard Development Corporation, the Downtown Brooklyn Partnership and the DUMBO Improvement District.) “However, the core neighborhoods of Downtown Brooklyn, DUMBO, and the Brooklyn Navy Yard remain in highest demand.”
Indeed, Sunset Park, with the billion-dollar Industry City project, may eventually dwarf Dumbo as the tech capital of Brooklyn.
Williamsburg is growing, as well, with a new, massive, 40,000-square-foot WeWork being built out on Bedford Avenue.
And even Brownsville is in the running for some tech action, thanks to a project from rapper Lupe Fiasco and Waze exec Di-Ann Eisnor.
You know an economy is succeeding when among its main problems are that too many people want to locate there.
“The demand for office space in the Brooklyn Tech Triangle is at an all-time high,” the report states. “Almost all of the available office and manufacturing space is occupied resulting in a staggeringly low vacancy rate throughout the Tech Triangle. Whatever inventory becomes available is quickly absorbed by tenants looking to cluster with other innovation firms within the Tech Triangle. This trend has become even more apparent in recent years.”