Even by New York standards, these are extraordinary times in the city. There’s an explosion of growth in everything from technology and education to dining and real estate, keeping the metro area’s $1.4 trillion economy in constant overdrive. People are moving into New York in record numbers to take advantage of the jobs bonanza across all five boroughs, or just dropping by to gawk at the place—a record 58 million visitors came through last year, on the way to a projected 67 million annually in five years.
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Entrepreneurship
An environment for startups second only to Silicon Valley and support from local government make New York ideal for new business.
Urban Innovation
Creative urban planning and repurposing of established structures continue to reshape the city.
Cultural Life
With some of the world’s leading museums, theaters and restaurants, New York sets global trends in art and culture.
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Formerly overlooked outer-borough neighborhoods, from the South Bronx to Red Hook, are erupting with activity. Once-dormant Roosevelt Island is being remade thanks to Cornell University’s $2 billion mega-campus for technology. Downtown Brooklyn is getting a building—maybe two—nearly as tall as the Empire State Building. And Staten Island, of all places, is the site of a harbor-front destination development featuring the world’s largest Ferris wheel. Meanwhile, in Lower Manhattan, Santiago Calatrava’s controversial, bird-wing-like Oculus has finally opened above the World Trade Center Transit Hub, symbolizing a rebirth in a neighborhood that also includes new luxury hotels such as the Four Seasons and the upscale shopping complex Brookfield Place. And in Midtown, 2016 is nothing less than a watershed, a year that will see the skyline dramatically altered by a new generation of super-tall buildings. The city streetscape will be transformed, too, as pay phones are replaced by gleaming information kiosks linking the five boroughs in the world’s largest and fastest public WiFi network.
The city’s population has increased steadily for five years in a row, and now the U.S. Census Bureau estimates it to be at an all-time high of 8.5 million, with all boroughs having added thousands of new residents last year.
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