Michael Bloomberg Aims to Surpass Silicon Valley

Michael Bloomberg stated that he aimed to attract more technology companies into New York City by building a state of the art campus in the Big Apple.  He said that it could take up to three years but “could help launch 400 new companies and create more than 22,000 permanent jobs, as well as more than 7,000 construction positions”.  My personal opinion is that Silicon Valley attracts technology companies because it is the location of venture capitalism.  Any technology company that seeks VC Funding needs a presence in the valley – look at Groupon, a Chicago based company, seeking employees in the Silicon Valley.

My two cents is that it would require VC’s to move East.  As someone who detests cold weather, I doubt that the VC’s would want to live in NYC.

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About Cameron Ackbury, CPA

Founding Director at DaggerFoil Group
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