WHY NEW YORK CITY
FOR BUSINESS?
New York City …
1)
Is the center of international business in the United States
2)
Is located in the Northeast, the wealthiest region of the United States
3)
Is one of the largest cities in the world
4)
Has the most Fortune 500 companies headquarters than any other city in the United
States
5)
Is the financial, media, fashion, high-tech, diplomatic, cultural, and sports capital of the
world
6)
Has a superior post-secondary education, one of the best in the United States
7)
Has the best public transportation system in the United States
8)
Has the largest airport system in the world
9)
Has the largest concentration of Russian-speaking population in the United States
10)
Has the largest number of Russian large, medium, and small size businesses than any
other United States city has
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New York City: Basic Facts
The Mayor of NYC is Michael Bloomberg
NYC is the largest city in New York State
The capital of New York State is Albany, not
NYC
The Governor of New York State is David A.
Paterson
New York’s five boroughs are Manhattan,
Bronx, Brooklyn, Queens, and Staten Island
New York’s nickname is “The Big Apple”,
which now stands for New York’s diversity
and large population
NYC’s flag is a vertical tricolor of blue, white,
and orange taken from the flag of the United
Netherlands of 1625
One of the main associations of New York
City is the Statue of Liberty, which is the
symbol for freedom and the United States1
New York City Flag
New York’s Five Boroughs
“The Big Apple”
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New York City: One of the Largest Cities
of the World
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NYC is the largest city proper and the
metropolitan area in the United States
The population of New York City proper
in 2009 was 8.4 million2 (in the top 20
cities proper in the world)
However, the population of the
Metropolitan New York (frequently
referred to as the NY Tri-State Area)
was from 19.1 million people up to 22.2
million people in 2009, depending on
the surrounded counties included in the
data3
Metro New York is among the 5 largest
metro cities in the world
The median household income in Metro
New York in 2008 was $55,980, which
was above the national average of
$52,0294
The Tri-State Area
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The Northeast: The Wealthiest Region of
the USA
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The Northeast accounts for the
25% of the U.S. GDP5
Its population is 54.7 million
people
The growth in its population is
7.2% over the last 16 years
It consists of New England and
northern Mid-Atlantic states6
Includes largest cities in the
USA, such as New York,
Philadelphia, Boston, and
Pittsburgh
Rich in Eastern European
immigrant culture
The Northeast in Relation to the
Rest of the US
The Northeast
by Each State
5
New York State: The Centre of
International Business in the USA
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New York is the third largest exporter among the 50 states (2009)
New York State’s GSP (Gross State Product) is $1.1 trillion, which is the 3rd in
the US behind California and Texas (2005)
If NYS were a country, it would rank 16th in the world behind Turkey (2005)
Foreign-controlled companies employ 433,600 workers in New York State
(2007). This is the second largest total among the 50 states (behind California)
Major sources of New York state's foreign investment are the United Kingdom,
Germany, France, Canada, and Switzerland
A total of 27,329 companies export goods from New York State locations
(2007), the third highest number among the 50 states7
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Top Export Destinations from NYS
Note: As Seen from the graph, Russia is a significant importer from NYS
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If Metro New York were a Country, it Would Rank 12th in the World
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Metropolitan New York’s GDP is larger than that of New York state,
India, Mexico, Australia, South Korea, Netherlands, Turkey, Poland,
and Indonesia
8
Financial Times Named New York #1 North
American City of the Future 2009/10
•This information was set under
seven categories: economic
potential, human resources,
cost effectiveness, quality of life,
infrastructure, business
friendliness, and FDI promotion
strategy
•New York scored first largely
due to a high number of FDI
projects into and out of the city,
the number of megaprojects
associated with NYC, and the
large base of post-secondary
students living in the city
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New York: A Global Image in Perspective
•In October 2009 New
York was ranked the
most attractive city for
business and
innovation, outranking
London, Paris, and
Tokyo, according to
Japan’s Mori Memorial
Foundation’s second
Global Power City Index
•The index measured the
attractiveness of a city
from the viewpoint of
global and local actors:
managers, researchers,
artists, visitors, and
residents
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Source: www.mori-m-foundation.or.jp/english/research/project/6/pdf/GPCI2009_English.pdf
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The Russian-Speaking Population in New
York
City
In 2008, an estimated 9.8 million foreign travelers
entered the United States through New York City12
Out of 8.4 million people living in the city of New
York, more than 3 million are foreign-born, speaking
around 200 languages in every corner of the City13
According to the 2008 American Community Survey
based on the language most spoken at home, there
are about 207 thousand Russian-speakers in the City
of New York14, and close to 258 thousand in NY TriState Area15
However, according to the data estimation by
Russian advertising agencies, there are from
960,000 to 1,320,000 Russian-speakers in NY TriState Area (which is 24% of the total Russianspeaking population in the United States), counting
all immigrants from Russia and CIS who speak some
Russian, and about 600 thousand of Russianspeakers in New York City proper16
New York City (particularly in the Brighton Beach
district) has the largest concentration of Russianspeakers than any other city in the US
The Russian is the fourth most common language in
New York City after Enlglish, Spanish, and Chinese17
A Russian Book Store at
Brighton Beach
A Russian Restaurant at
Brighton Beach
11
Russian Language Distribution in the
United States
18
•As seen from this
map, the largest
concentration of the
Russian-speaking
community is in New
York State
•Based on the US
Ethnic Profile
according to the
Census 2000 Data, the
largest ethnic Russianspeaking communities
in the United States
are Russian, then
Ukranian, Lithuanian,
Armenian, and
Latvian19
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The International Business Capital of the
US
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New York City is the international business capital
of the United States, with more foreign-based
companies than any other city in the nation
More than 2,800 international firms in NYC employ
275,000 people
One out of 10 private sector jobs in NYC is with a
foreign company
36% of the City’s workforce is foreign-born
New York is home to 44 Fortune 500 companies,
which is more than any other US city, and 20 Global
Fortune 500 companies, the fifth most in the world20
NYC is a global center in finance, fashion, hightech, bio-tech, media, real estate, hospitality and
professional services, logistics, and manufacturing
The Freedom Tower will
be built by 2013 in NYC
to symbolize the status of
the business capital of
the world (with a height
of 1776 feet / 541 m
without the antenna)
13
The Headquarters of 44 Fortune 500
Companies are Present in NYC
Source: Fortune Magazine, April 2006
14
NYC has the Highest Concentration of
Russian Large Businesses in the US
15
The Financial Capital of the World
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New York remains the leading global financial center,
followed by Singapore, which topped London as
investors’ preferred place for doing business according
to the Bloomberg Global Poll of investors and analysts
in 2009.
29% of respondents who subscribe to the Bloomberg
terminal say New York will be the best place for
financial services two years from now
NYC is the home to the three major stock exchanges in
the world: NASDAQ, New York and American Stock
Exchanges
The Financial Services sector accounted for more than
314,000 jobs in NYC in June 2009 and $94.8 billion in
payrolls in 2008
18 of the top 20 foreign branches of international banks
have their U.S. headquarters in NYC
168 banks from 50 countries have offices in NYC21
Some of the largest Russian financial companies that
already established their offices in NYC include Troika
Dialog, Renaissance Capital, VTB Capital, and
Vnesheconombank
New York Stock Exchange
New York
Stock
Exchange
Building
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The Media Capital of the World
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The Time Warner
Building
New York City is the home to more multi-billion
dollar media companies than any other US city,
including Time Warner, NBC Universal, and
Viacom
The media industry employs 300,000 people and
generates $30 billion in annual revenue in New
York City
NYC has a robust 30 percent market share of the
US digital advertising revenue
Two of the largest global marketing agencies,
Omnicom Group and Interpublic Group, are
headquartered in the City22
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The High-Tech Capital of the World
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The City is the nation’s hub for domestic and
international broadband networks
More than 3,700 buildings in NYC are fiber-lit,
representing more wired leasable space than any
other US city
New York exceeded Massachusetts in internet
investments with 48 percent of its new investments
made in the internet sector
Google, IAC, Microsoft, and Yahoo! all have major
presences in NYC, and the City’s famed Silicon Alley
is home to dozens of innovative startups
Tech companies will find more than 18,000 science
and engineering students versus only 11,000 in
Boston and San Francisco
New York was among the top three venture capital
states with $285 million in new venture capital
investments spread across 41 deals23
Some of the main Russian IT companies, Luxoft and
Data Art, already opened their offices in NYC
Google Inc. Office in New York
Yahoo!
Commercial at the
Times Square
18
The Fashion and Retail Center of the World
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New York City is the global capital of
fashion
More than 75 major fashion trade shows
and market weeks take place in NYC
annually, attracting hundreds of thousands
of visitors to the City, with international visits
accounting for almost one-fifth of all visits
NYC has more than 5,000 fashion
showrooms, more than any other city in the
world
Many of the world’s most prestigious stores
and brands call the City their home,
including Barneys New York, Bergdorf
Goodman, Bloomingdales, Saks Fifth
Avenue, Calvin Klein, Donna Karan,
Kenneth Cole, Liz Claiborne, and Ralph
Lauren24
New York Fashion
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The Largest Concentration of Non-forProfits and NGOs in the World
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New York City is home to more than 20,000
not-for-profit organizations, employing
approximately 14 percent of the total paid
employees in the City
Large number of not-for-profit institutions is
thanks to 6,400 grant-making foundations in
the City, more than double than its
competitor Chicago25
Among notable think tanks that analyze
Russian-American relations are Council on
Foreign Relations, EastWest Institute, the
Russian Democracy NGO
Former President Bill
Clinton at Council on
Foreign Relations
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The Diplomatic Capital of the World
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The UN headquarters
New York City is a host to the
United Nations headquarters
There are 192 Permanent
Missions to the United Nations
and 111 consulates, including
the Permanent Mission and the
Consulate General of the
Russian Federation26
Vitaly Churkin – the
current Permanent
Ambassador to the UN
from the RF
The Russian
Consulate
21
Superior Post-Secondary Education
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New York City’s thriving higher education
sector fuels the City’s economy with jobs and
talent while driving innovation and
entrepreneurship in emerging industries
New York City is a diverse hub for welleducated, ambitious individuals, with a student
population of 623,000 and 164 academic
institutions
Thirteen of the nation’s top schools of fine arts
and design, two of the top five ranked law
schools in the country, and two of the top 10
ranked business schools in the country are
located in NYC
New York City is an attractive destination for
international students. In 2009, New York
University and Columbia University had the
second and third largest international student
populations in the country, totaling more than
13,000 students27
There is also a high percentage of Russianspeaking students in NYC post-secondary
schools, including Columbia, NYU, Pace, and
Baruch College
22
The Best Public Transportation System in
the US
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More residents use mass transit in New York
City than in any other American city
Transit system’s sophisticated, efficient
network of buses, subways, and trains
reaches virtually every corner of the New York
metropolitan region
NYC has one of the largest subway systems
in the world, with 660 miles of passenger
service track, 26 subway lines, 468 subway
stations, and an average of 5.2 million
weekday riders in 200828
Long Island Rail Road, Metro-North, and New
Jersey Transit are the busiest commuter
railroads in the US that, in addition to Amtrak,
have non-stop services from New York City to
New Jersey, Long Island, Connecticut, and
long-distance locations, including
Philadelphia, Boston, and Washington, D.C
within a few hours by train29
The Subway
System
The Railway
System
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The Most Concentrated Travel Hub in the
World
82 domestic and foreign carriers serve the
New York-New Jersey region with more
than 130 non-stop services to over 200
cities worldwide
Major airports are John F. Kennedy
International (JFK), Newark Liberty
International (EWR), and LaGuardia (LGA)
All the airports are within 15 miles (24 km)
from Manhattan, with LGA being the
closest - 8 miles (13 km)
Each airport has an easy access to the
mass transit, with AirTrain running from
JFK and EWR, and a bus from LGA to the
subway
There are three heliports in New York that
have helicopter services30
The Map of Airports
An Airtrain from JFK
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JFK: The Gateway to the United States
•JFK is the busiest international air passenger gateway to the United
States31
•In 2007 it served 21 million international passengers
•Annually it serves 46 million passengers, including domestic and
international passengers (2009)
•In 2009, JFK was the 12th busiest airport in the world32 and the 6th busiest
in the US 33
International Flights from JFK
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The Largest Airport System in the World
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Newark Liberty International is the 2nd busiest
airport in New York with 35.4 million (2008)
passengers. Newark International has a
substantial number of international flights
(though less than 11 million international
passengers flying to/from JFK annually)34
LaGuardia is the least busiest in New York,
serving 23.1 million passengers annually
(2008), but LGA is also the busiest airport in
the US in terms of flights without any non-stop
service to and from Europe (more than
322,000 domestic flights)
A total of 106 million passengers use New
York airports, making New York airport system
the largest in the world in terms of flight
operations and second to London in terms of
passenger traffic35
Manhattan’s View from Above
at Night
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Most Frequent Flights to Russia from the
US
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Direct and daily flights from JFK to Moscow by Aeroflot and Delta
Airlines
Transfer flights with transit in Europe by companies, such as
Lufthansa, Air France, British Airways, Finnair, SAS, and LOT to
Moscow, Saint-Petersburg, Yekaterinburg, and other Russian cities
Most flights to Russia take off from JFK, but some also from Newark
Liberty Airport
27
NYC Helps New International Companies
Grow Incubators’ Map
•Some main
•Most
•NYC has more
36
than twenty
incubators that
help international
companies to
grow their
businesses in the
City
•The City
administration is
helping to fund
some major
incubators, like
NYCEDC/NYUPoly incubator
incubators
are located
both in
Midtown
and
Downtown
where the
greatest
part of the
international
business
takes place
incubators
are
Corporate
Suites, Office
Suite Group,
Sunshine
Suites,
Techspace,
Rockefeller
Group, and
many others
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One of the Most Affordable Big Cities to Live in the
World
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New York City has a comparable
cost of living to other large cities
and ranks well against
international competitors
The average rent in both
Midtown and Lower Manhattan is
one of the most affordable when
compared to other world-class
cities
New York’s cost of living was
ranked lower than that of
Moscow in 2009
Mercer Worldwide Cost of Living Survey, 2009
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The Safest Big City in the US
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The current administration doubled up
its efforts on preventing crime in the
City
If there were 2,262 murders and
100,280 robbery cases registered in
1990, then by 2009 the cases
decreased to 471 murders and 18,594
robberies
New York City crime decreased by 79%
over the last 20 years
Murder rates in 2000 were the lowest
since 1967
New York City has the highest
concentration of law enforcement
agencies of anywhere in the United
States38
Safety in New York
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The Cultural and Social Capital of the
World
NYC has more than 150 major
museums39
In that list, some of the world’s most
renown museums include
Metropolitan Museum of Art (MET),
Museum of Modern Art (MoMA),
Solomon R. Guggenheim Museum,
and the American Museum of
Natural History
NYC has a large number of parks,
of which Central Park is the major
one, providing 843 acres of paths,
lakes, and open spaces to escape
the work environment of the city40
There are more than 24,000
restaurants in NYC41, including no
less than 150 restaurants that serve
Russian food42
The Met
Central Park
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The Sports Capital of the World
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Mikhail Prokhorov
playing basketball
•
Mikhail Prokhorov and the Nets
NYC has 10 professional
teams, including 2 MLB, 2
NFL, 1 MLS, 1 NHL, and 1
NBA teams
In 2012, the basketball
team Nets will move into
their new Barclays Center
stadium in Brooklyn thanks
to their new owner Russian
second-richest oligarch
Mikhail Prokhorov who
purchased 80% of the Nets
and also 45% of the
Barclays Center in 200943
The US Open takes place
every August-September,
where one can enjoy
watching top-ranking
Russian tennis pros:
Nikolay Davydenko, Marya
Sharapova, Dinara Safina,
and many others
Marya Sharapova
Winning the US Open
Nikolay Davydenko
Playing at the US Open
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A Low Risk of Earthquakes and
Hurricanes in New York City
Earthquakes and major
hurricanes are very unlikely in
New York City44
In case there is an
environmental emergency, the
City’s Office of Emergency
Management launched in 2004
the Corporate Emergency
Access System (CEAS) which
enables businesses to retrieve
critical assets and prepare their
sites for extended absence
On June 1st, 2010 CEAS
enrolled its 400th business
Any business can apply for
CEAS credentialing45
Although Hurricanes are not
Impossible in New York City,
they are very Unlikely
This Map Shows Hazard
Earthquake Zones in the US with
the most Hazard Places in Red
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In Conclusion, New York City is where…
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Strong opportunities exist for the Russian-American businesses
cooperation
Russian businesses find the most friendly entrepreneurial and
social environment in the United States
The largest and most concentrated Russian-speaking population
Transatlantic flights are the quickest to the US
A Russian businessman can fly directly to any part of the US
A Russian company can find opportunities in any industry
Any size of a Russian company can succeed
A multinational networking takes place
One feels in the center of the world
The most opportunities to become rich
34
www.russianamericanchamber.com
info@russianamericanchamber.com
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2.
3.
4.
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6.
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Ibid., 1
NYCEDC. International Business Resources Guide. 5. Retrieved from
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uide.pdf
Ibid., 9
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36
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RULIST™ Russian American Yellow Pages. Why advertise at the ethnic market? “The US Ethnic Profile according to the Census 2000
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x
NYCEDC. International Business Resources Guide. 7. Retrieved from
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Ibid., 7
Ibid., 8
Ibid., 9
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x
Ibid., 3
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NYCEDC. International Business Resources Guide. 24. Retrieved from
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New York City Economic Development Corporation. Global Business Capital in New York City. 3. “Industry Snapshot”.
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