NEW
New York – Israel Economic Impact Report
For the first time, the impact of Israeli-founded companies on the New York State economy has been quantified.
The report measures economic development activity that has contributed significantly to the New York economy and also identifies sectors with growth potential.
The report is based on data through 2018.
By the Numbers
Israeli-founded businesses based in New York State
From 2009 to 2018, 436 Israeli companies established a presence in New York State
Revenue generated by Israeli-founded businesses in 2018
$33.8B when accounting for the multiplier impact on spending in the local economy
New Yorkers employed by Israeli-founded businesses
That number surges to 52,352 when including indirect jobs supported
Israeli-founded unicorns that call New York home
Anyvision, Axonius, BigID, Claroty, Fireblocks, Forter, Gett, K Health, Melio, OrCam, Papaya Global, Sisense, The We Company, VAST Data, Verbit, Via, and Yotpo
State’s GDP comes from Israeli-founded businesses
2.02%, to be exact
Israeli-founded businesses generate the majority of jobs & revenue
This top tier is responsible for creating 80.8% of Israeli-founded businesses’ jobs and 78.8% of total revenue
A closer look at growth from 2016 to 2018:
Growth rate by Israeli-founded businesses
The rest of New York State’s rate during the period was 4.2%
Israeli-founded businesses’ job growth was double the state’s rate
Israeli companies saw 2.5% job growth while the rest of the state’s had 1.2% growth
Compound annual growth rate for revenue generated by Israeli-founded businesses
The CAGR for jobs created during that period was 3.0%
New York-Israel Business Alliance
The mission of the New York – Israel Business Alliance is to create economic opportunities between New York State and Israel.
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