New York business news

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Lord & Taylor Returns to New York

At the beginning of 2019, New Yorkers bid farewell to the iconic Fifth Avenue Lord & Taylor department store. But now, at the end of 2019, New Yorkers can rejoice once again. Lord & Taylor will be opening a 2,400-square-foot pop-up shop for two weeks in mid-December. The temporary shop will be in Soho, an area of Manhattan that is full of seasonal pop-ups, high-end fashion shops, and empty storefronts. Shoppers can expect a meticulously…

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New York Named Most Innovative City

As 2019 comes to a close, New York has one more thing to be proud of: making #1 on the list of the world’s most innovative cities. Last year’s winner, Tokyo, got bumped down to number two. Three other U.S. cities also made the top 10, Los Angeles, Chicago and Boston. This was the first time since 2007 that Chicago made the list, due to the growing number of start-ups and top-ranked universities planting roots…


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California Mom Brings Tech, Jobs, and Innovation to NYC

2020 will see an estimated 1.4 million tech jobs available in the U.S. Some 70% may remain unfilled. Tina Lee, the founder of MotherCoders, is determined to bridge that gap by arming moms with the necessary tech skills to land these well-paid opportunities. Lee first thought of the idea when she was on maternity leave from her job as a director of innovation for the California State Controller’s Office. She realized that her lack of…


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Absolut(e) Air: Vodka Made From What We Breath

Brooklyn-based startup Air Co. has just released a vodka made from carbon dioxide. The electrochemical conversion of carbon dioxide into alcohol is not new; Air Co. is the first to produce and scale a drinkable beverage out of it. The new drink’s label reads “vodka made from air, water and sun.” As a player in the trendy food and beverage sustainability movement, Air Co. made “the world’s first carbon-negative vodka,” with each bottle a result of the…


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New York Welcomes Start-Up Nation’s Best

New York’s growing tech force has led many Israeli high tech companies to open headquarters in the Big Apple. A report by the New York-Israel Business Alliance, an outfit promoting economic prospects between New York state and Israel, showed that Israeli-founded companies make a significant impact on the state economy: $18.6 billion in revenue in 2018. The study also found that between 2014 and 2016, Israeli start-ups secured $3.5 billion in venture capital funding. Just…


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Wegmans Now in NYC

Wegmans Food Market, the popular family-owned regional chain, now has a branch in New York City.  The retailer opened a 74,000-square-foot store in the Brooklyn Navy Yard, making it the 101st store for the 103-year-old company. With headquarters in Rochester, New York, Wegmans locations can be found all along the east coast as far south as North Carolina. New York Sen. Chuck Schumer attended the store’s grand opening ceremony and explained that Wegmans “is what…


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Eco-Friendly Construction Aided by New Lending Program

New environmental laws, designed to combat climate change, are driving up the costs of real estate development. Now developers are taking advantage of a financing tool to help pay for green-building requirements. The loan model, known as Property Assessed Clean Energy, or PACE, was created in 2008 to subsidize the costs of building improvements that create environmentally sustainable and resilient properties. PACE is emerging as developers go-to for creating more energy-efficient buildings that are compliant with…


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Health-tech hub expands to New York

New York is the newest location for an innovation center of the Chicago-based health-tech incubator Matter.  In collaboration with the New York City Economic Development Corporation, Matter is working to connect startups with life sciences companies, health care providers, academic research centers and health-related organizations. Steven Collens, Matter CEO, said “the expansion will create East Coast opportunities for Chicago-based companies and help New York companies enter the Midwest,” yielding economic growth for all. Matter plans to leverage its nonprofit, no-equity model to…


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NY Reopens Iconic Flagship Apple Store

The iconic cube on Fifth Avenue in New York City is now reopened for business. The Apple store was closed for renovations nearly two years ago. Now the revamped location, double the size of the previous space, facilitates better business and optimizes users’ experience. The store is one of the first major openings since Deirdre O’Brien, Apple’s HR chief, took over as head of retail. She explained how “Apple worked with Foster + Partners to reimagine the…


NYC Now Offers Salary Negotiation Classes for Women

New York City is now offering women a free class on negotiation skills so that they can secure raises and better employment conditions. The two-hour workshop is available across New York’s five boroughs. An online course is also available. The goal is to reach a total of 10,000 women. Women in New York earned 88% of what men did in 2016, according to American Association of University Women research that looked at median annual earnings for full-time…