Memo to mayors, state premiers and even ministers for broadband, communications and the digital economy: technology is the economy.
That is the view of urban economic development experts from New York City who have overseen the Big Apple's reinvention as a New Tech City to challenge Silicon Valley according to a report in theage.com.autheage.com.au.
Punch drunk from the 2008 financial crisis that came close to gutting the city, the local government leveraged tech and digital sectors to rebuild and grow the local economy. As a result, in 2011 the city received USD$2.2 billion in venture capital funding, up 30 per cent from 2009.
To read the full, original article click on this link: Five lessons for aspiring tech cities | The Next Silicon Valley
