As his final term as the chief executive of the de facto media capital of the world winds down, New York City Mayor Michael Bloomberg appears to be gearing up to resume his role in the media industry, but not before he leaves his official governmental stamp on Media Town. Bloomberg has scheduled a press conference this morning to unveil “initiatives to help New York City continue as the global media capital in the digital age.”
The announcement follows the release of study commissioned by Bloomberg’s private foundation late Monday, which indicates that digital media is now the “second largest growth engine” of New York City’s economy. The report found that New York City’s technology and information sector — including both traditional tech companies as well as media ones — has grown 11% since 2007, adding 26,000 jobs and $5.8 billion in wages to the local economy.
“Using a conservative estimate, these jobs alone were responsible for approximately one-third of private sector job creation in New York during this time,” the report concludes, estimating that New York City’s rate of media tech job expansion outpaced every other large U.S. market except for San Francisco.
The study also comes as Bloomberg has teamed with San Francisco Mayor Ed Lee to collaborate on a series of media technology summits reinforcing the two metros as “the nation’s two leading digital cities.” “New York has long been recognized as the capital of finance, fashion, media, and the arts — and we now have the numbers to demonstrate what has become increasingly clear: New York is the country’s hottest and most dynamic tech capital,” Bloomberg stated in a release announcing the report.