Business Hub

The Future of New York City as the World's Business Hub: Global Business in the 21st Century City

In October 2007, Economist Conferences and The Levin Institute partnered to present a day long conference that focused on New York City's competitive position in the global economy. The conference brought together business and market leaders, elected officials and policy makers as well as academics and international experts. Their task was to examine and evaluate New York City's standing among the world's leading cities as a center of commercial activity in the 21st Century.
This event continued The Levin Institute's focus on the impact and implications of globalization. Previous conferences studied the "Evolving Global Talent Pool", "Industrial Innovation in China", and "Emerging Innovation in China and India". As a system wide graduate institute within the State University of New York, The Levin Institute's mission is to prepare students to work effectively and ethically across borders and cultures, conduct leading research on key aspects of globalization, and to organize high level public events that address today's global agenda. We hope that the information and expertise from this conference on New York City will be of value to you and to the broader public.

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A case can be made that no American state has benefited more AND suffered more from the forces of globalization than New York. While the City of New York has prospered from the flow of financial and human capital over the past two decades, much of the rest of the State has seen serious economic decline as industries and jobs have moved elsewhere in the nation and around the world. As a new institute within the State University of New York, with our location in the heart of New York City and with our focus on the dynamics and consequences of globalization, The Levin Institute is well placed to have both a global and a local view of the accelerating changes in the global economy and their impact on a nation or a community; even one as large and confident as New York City.

Because New York City has and continues to play a leading role in global commerce, The Levin Institute was delighted to join with Economist Conferences as a Knowledge Partner for this conference on the future of New York City as the world's business hub. Conference participants understood and articulated the reality that New York City's leading position in many fields is being challenged by the emergence of growing and competing financial and business centers in London, East and South Asia, the growing influence of sovereign wealth funds, as well as the inevitable opportunities and pressures of new technologies.

As conference participants listened to addresses by Mayor Michael Bloomberg, Schools Chancellor Joel Klein and Police Commissioner Raymond Kelly, a consistent theme was that as important as the new global forces are, local issues were just as critical. These range from basic public education, to attracting and keeping talented people working in the City, to ensuring that the infrastructure around and beneath us continues to meet the demands of a growing population headed toward nine million. There was also recognition that as powerful and prosperous as the financial industry in the City has been, New York needs to diversify its economic base. This will have to come mainly in new and growing knowledge industries. New York City is home to leading university and other research centers with international reputations and impact in science and technology. However many of the ideas and advances that come out of New York City based research do not remain in the City; entrepreneurial start up firms, in most cases, prefer to locate elsewhere. This raises questions about the affordability of New York City for these new business enterprises and the talented people needed to staff and lead them.

Event Videos (in Windows Media Format)

Jonathan Bowles:
"Why isn't New York Known as a Center for Science and Technology?"
(File Size - 41.7mb)
Transcript

Nancy Peretsman:
"What is Happening in Media and New Media in New York?"
(File Size - 63.4mb)
Transcript
Jerry Hultin:
"Which Science and Technologies for New York?"
(File Size - 22.0mb)
Transcript

Jerry Hultin
"Improving Innovation: Engineers and Entrepreneurship in New York"
(File Size - 30.3mb)
Transcript

Jerry Hultin & Jonathan Bowles:
"What about the Role of Government?"
(File Size - 24.5mb)
Transcript

Mayor Bloomberg Address I
(File Size - 15.2mb)
Transcript
Mayor Bloomberg Address II
(File Size - 5.20mb)
Transcript