Declining city funds and the growing number of non-industrial businesses in and around industrial business zones (IBZ’s) are at odds with the program’s original purpose.
A small number of startups have put Queens on the map as a potential place for the city’s expanding tech industry. Local advocates and business leaders believe the borough’s immigrant population—combined with affordable real estate and the promise of better amenities—could attract more companies to join its nascent tech scene and generate more jobs.
The Brooklyn Tech Triangle, an urban planning project designed to bring more than a million square feet of office space and at least 20,000 tech jobs to the area by 2015, is a wildly ambitious attempt to steer public resources and private interest in a new direction. But the scope of the project, and the sheer number of initiatives involved, makes the complete realization of the Brooklyn Tech Triangle unlikely, at least anytime soon.