Archive for the ‘New York’ Category

New York City CBD

August 11th, 2016

New York City’s Central Business District is the largest of its kind in the United States and is one of the worlds most prosperous and resilient business hubs. Although there are several designated business districts in New York, the city’s primary CBD refers to the area comprised of Midtown and downtown Manhattan.

The area has been an influential economic and financial center since the 19th century, mainly thanks to the presence of the New York Stock Exchange and other important financial institutions. Over the years, the CBD grew in size, population, and in the diversity of its industrial and commercial base. Nowadays, New York’s CBD is home to approximately 1.6 million residents and is visited by up to 4 million people every day, including tourists, commuters, and residents. According to the city’s Chamber of Commerce, the CBD is home to more than 310,000 registered businesses.

The CBD is well connected to the rest of the city via mass transit, as the area is served by 14 subway lines and more than 30 bus lines, which provide 24/7 access to the business heart of New York. The Staten Island ferry terminal is also located within the CBD’s boundaries. Connections with nearby urban centers (such as New Jersey) are readily available via frequent PATH trains. The nearest airport is New York – LaGuardia, which is approximately 10 miles east of Times Square and 12 miles away from Wall Street.

Key industries and employers

According to statistical data published in a recent Demographia report, New York’s CBD employs more than 22 per cent of the city’s workforce (nearly 2 million people). This is by far the largest share of employment of all CBDs in the United States. The CBD also ranks first in terms of the number of Fortune 500 companies, as there are more than 50 such corporations in New York’s CBD. Read the rest of this entry »

Manhattan Office Market: 2016 Forecast

February 17th, 2016

An in depth look at how the Manhattan office space market has fared in 2015 and forecasts for this coming year.

Manhattan Office Market Overview of 2015

Over the past 12 months, federal economic policy has been focusing on expansion, driving an increase in employment rates, especially as far as office-based employment is concerned. This type of employment grew by 2.6 per cent in just 1 year, and prompted a considerable increase in demand led by occupiers in the Manhattan financial services sector. In certain Manhattan sub-markets (such as in Midtown South), strong demand from tenants in the TAMI sector (technology, advertising, media, and information) was also evident.

At the end of 2015, total office stock in Manhattan was just under 395 million square feet, of which 28 million were vacant. Total transaction volume amounted to more than 28 million square feet, one of the highest figures of the past 10 years. However, there was a slight decline in transaction volumes in downtown Manhattan, where transactions mostly involved small and medium-sized office properties.

Manhattan Office Market: Key Facts & Figures

During 2015, office vacancy rates in Manhattan went down from 9.3 per cent to 8.5 per cent. This decrease equals to 90 basis points on a year-on-year basis, and brings vacancy rates closer to Manhattan’s historical average of 8.9 per cent. In Midtown South, vacancy rates were markedly lower at 6.2 per cent, whereas in downtown Manhattan they went down by 30 basis points to 9.4 per cent. Read the rest of this entry »

Spotlight on Business in Manhattan

March 31st, 2015

Overview of Business in Manhattan

For decades, Manhattan has been a global business hub of undisputed prestige. This New York borough is home to some of the world’s most successful businesses and to the largest stock exchange in the world. Manhattan has repeatedly topped the global lists of most powerful cities, staying ahead of other leading business hubs like London, Dubai, Hong Kong, or Shanghai. Due to its excellent infrastructure, world-class business environment, and valuable human capital, Manhattan is the world’s most desirable business location . The borough’s thriving business scene is a catalyst for economic growth, and this is reflected in the local employment levels. According to the NYCEDC, more than 310,000 jobs are based in this borough, tens of thousands of which have been created in the private sector since 2005.

Major Industries

The banking and financial sector is the key economic driver for the local economy. More than 300,000 people are employed in this industry, which according to the Federal Reserve generates more than 35 per cent of the city’s income. The service sector is another key industry in Manhattan, as it employs over 1 million people in areas like tourism (over 240,000 jobs), professional and business services (287,000 jobs), or healthcare and social assistance (208,000 jobs).

The number of technology, advertising, media, and information companies (TAMIs) has skyrocketed since 2009. Back then, TAMIs barely occupied 100,000 square feet of space in Manhattan, but at the end of 2014 that figure had increased to more than 1.6 million. A report published by the Downtown alliance estimates that this sector is comprised of over 800 firms that generate a combined annual output of $125 billion and that employ nearly 29,000 people. Likewise, Manhattan has recently been attracting a steady number of creative firms. According to an article published at the Wall Street Journal, the number of employees working in creative ventures in this part of Manhattan has increased by 71 per cent over the past five years. Read the rest of this entry »

The East Coast’s Top Five Business Schools

May 18th, 2012

The east coast is well known for its many opportunities to get a quality business education. Most of the most popular business schools in the United States are found on the east coast, with most reports of the top ten business schools in the United States containing between 6 and 7 east coast schools. The age of the schools on the east coast give them a very impressive history, with many of them being founded while the British still controlled the colonies. Read the rest of this entry »

The Top 10 U.S. Cities for High Paying Tech Jobs

May 4th, 2012

As tech companies offer higher pay for developers, ten cities stand out in the U.S. as the highest paying for IT jobs. San Jose, San Francisco and New York offer the highest salaries. Those who are searching for the highest paying IT jobs obviously need to head west. Statistics from the recruiting company CyberCoders points out that the average salaries in San Jose and San Francisco average $14,000 more than in third ranked New York City.

The top 10 list does contain cities scattered throughout the U.S. where lucrative jobs can be found. Major cities like Boston, Washington D.C., Dallas and Chicago are included on the list. The greatest increase in salaries has come in mobile development positions. However, IT salaries have gone up across the board in the last year. Individuals who acquire multiplatform skills and are able to design and code within the constantly changing world of mobile applications become the highest paid workers.

The cities that rank highest in pay for IT jobs in high-range, mid-range and low-range salaries are:
1. San Jose, CA
2. San Francisco, CA
3. New York, NY
4. Washington, D.C.
5. Boston, MA
6. Los Angeles, CA
7. Brooklyn, NY
8. Philadelphia, PA
9. Chicago, IL
10. Dallas, TX

The Roche Group is pushing back the frontiers of healthcare in 150 countries, employing about 80,000 workers. It has become one of the largest research-based healthcare groups. Genentech, a subsidiary, has led the biotech industry for over 30 years. They use human genetic information to develop specialized medicines for life-threatening diseases. The headquarters for Roche pharmaceutical operations are located in the U.S. Their philosophy is that the employees are their most important asset and they are dedicated to maintaining a great work place along with providing the best salaries for IT workers. Their CRM Techs provide expert technical information for Genentech’s Commercial Operations. They are responsible for maintaining project work, enhancements, and problem solutions. They work with onsite contractors and a Poland-based development team. These workers must be familiar with a variety of databases, with a strong technical foundation that includes advanced structured programming. Salary compensation for these positions is among the highest in the field.

CompuTech, located in Clarkstown, NY offers Desktop Support Tech positions with a world renowned computer manufacturing company. These are contract positions requiring backgrounds 5 years’ experience in both HP hardware and software, Windows XP and Windows 7 maintenance. Salaries are commensurate with experience and skill levels.

Similar positions may be found in any of the cities listed above. Depending on the applicant’s skills and training, and where he wants to work, high-paying IT jobs are available throughout the country.

The Best Airport Business Lounges in the U.S.

April 25th, 2012

The Three Airlines With the Best Lounges in the U.S.

Business travelers need the perks of high quality airport lounges where they can unwind and rest between flights. Space for meeting with colleagues provides an additional advantage. Competition between different airlines for business and first-class passengers means that their lounges provide the best possible amenities including massages, limos to passenger’s next flight, and five-star dining. The question then becomes which airlines actually have the best lounges? These three top the list for those in America.

The Virgin Atlantic lounges rate number one with most passengers. “Air America” Business Class Lounge at Miami International Airport offers all the expected amenities desired to soothe the spirit and relax the body of passengers after their flight. The latest movies are available for viewing on wide-screen while the traveller relaxes in elegant comfort. A sauna and massage will get any passenger ready for the next leg of the journey. Read the rest of this entry »

Famous Corporate Landmarks

April 11th, 2012

Landmarks represent the richness and diversity of culture, history and heritage. It is no accident that many famous landmarks are used as corporate offices. Companies that commission such buildings have the power to create constructions that are impressive enough to become famous corporate landmarks. Here are several examples of striking corporate landmarks that incorporate a range of styles from high-tech modern to neo-classical. Each building has a function or feature so unique that it led to being famous all over the world.

The Woolworth Building in New York was designed in 1913 to be the tallest building in the world. From its completion until 1930 the building was the tallest in the world. The building was commissioned by Frank Woolworth to be the new corporate headquarters of Woolworth. The building is one of the oldest skyscrapers in the United States and the architecture resembles European cathedrals. The building was owned by the company for until 1998. Today, it is a monument not only to the originator of Woolworth, but the architect, as well who won acclaim for his detail and use of Gothic forms. Since 1966 the building has been a National Historic Landmark and a city landmark since 1983.

The US Bank Tower in California is one of the tallest skyscrapers in the city of Los Angeles, as well as one of the city’s’ most famous buildings. When this building was completed it became the tallest building on the Pacific coast. It is the most recognizable building in Los Angeles and is often used for shots for television programs and movies. The top of the building brightly illuminates at night. The building was designed to withstand earthquakes of an 8.3 magnitude and even has the world’s highest helipad.

The Chrysler Building is a famous corporate landmark in New York City and in 1930 it was the tallest building in the world for a while. Chrysler had asked the architects for the highest building to compete with competitors, also trying to have the highest building. It was a highly decorated office building, because Chrysler wanted a bold structure and he got it. Chrysler was hoping that such a distinguishing structure would make his company a common household name. Although, Chrysler lost command of the structure during the 1950’s, the landmark still has the original name. Today, it is one of the most well-know buildings in the world. Additionally it is one the city’s greatest display of Art Deco and a national landmark.

The Sears Tower is a famous corporate landmark located in Chicago, Illinois. This skyscraper was designed for the Sears Company as their headquarters. The building was designed with additional space for expansion. Since, Sears was by far the biggest retailer in the world in 1969. The project was a disappointment, because it was unable to attract tenants and was sold to new owners in 1993. The top of the tower is the highest point in Illinois. Since then the building has attracted major tenants and is a highly desirable business location. The skydeck is on the 103rd floor, 1350 feet above ground and on a clear day tourists can see far over the plains of Illinois and across Lake Michigan. Every year thousands of visitors are attracted to the renowned famous skydeck.

The GE Building is a famous building in New York. It is a skyscraper in Manhattan and forms a focal point for illustrious Rockefeller Center. Three related companies are associated with this building, G E, Westinghouse and RCA. Previously the building has been known as the RCA Building. Today the building provides headquarters for NBC and General Electric. It is most famous for housing the NBC network. It was the first building to have grouped elevators. The building boasts a height of 855 feet and has 70 stories. The modern design features an open floor plan and was awarded the status of being a landmark in 1985.

The luminous Wrigley Building is a world famous office tower in downtown Chicago. The goal of Mr. Wrigley was to create an impressive headquarters for his company. One of the buildings most well-known features is the huge clock-tower and is a landmark in Chicago. In addition to being home for the Wrigley Company, the building houses many other companies. The flood lighting of the building at night is one of the nation’s most major commercial displays of light. For over 70 years the building has been one of Chicago’s most attractive structures. The well-proportioned architecture and the lighting have established the building as a symbol of the city in many motion pictures, books and television programs. It definitely is an unforgettable image at night for both residents and visitors.