The Brooklyn Tech Triangle (DUMBO, Downtown Brooklyn, and the Brooklyn Navy Yard) has become a magnet for the world’s pioneering, energetic, and creative entrepreneurs and has emerged as the City’s largest cluster of tech activity outside of Manhattan, with nearly 10% of the sector calling this area home.
Homegrown companies are committed to growing here, and outside firms are looking to become part of the scene. DUMBO is bursting with digital companies. The Brooklyn Navy Yard is teeming with makers, artisans, and firms driven by technology. And Downtown Brooklyn has 57,000 college students—and a supportive business community ready to join the mix.
Over the next two years, the Brooklyn Tech Triangle is expected to grow to support nearly 18,000 direct jobs and 43,000 indirect jobs. The challenge of nurturing this explosion of innovation requires ensuring that the right kind of space is available for tech firms, a dynamic environment is present, and both opportunities and talent are encouraged. However, a lack of appropriate office space and adequate job preparation, among other factors, threatens to stifle this growth and send our companies to invest and hire elsewhere. Led by the Downtown Brooklyn Partnership, the DUMBO Improvement District, and the Brooklyn Navy Yard Development Corporation, the Brooklyn Tech Triangle Strategic Plan seeks to address these challenges by providing a blueprint for nurturing the growth of this sector and ensuring New York can capitalize on the job creation of the industry.
The Brooklyn Tech Triangle has the potential to become a model for the New York City economy and the next generation of tech hubs. Startups are moving out of business parks and into cities where they can draw on a range of resources and inspirations. They are flocking to the Tech Triangle because of its great neighborhoods, amenities, and institutions, and its unique set of work spaces— from the lofts of DUMBO to the light industrial workshops of the Navy Yard to the large offices of Downtown Brooklyn. While the Brooklyn Tech Triangle enjoys unique strengths, there are elements of this plan that can be applied to similar neighborhoods across the City. To do so this effort will require special attention from government, the real estate community, tech firms, and educators.
New York has made generational investments in the Brooklyn Tech Triangle, particularly in: rezoning of the area to support vibrant growth; development of major amenities such as Brooklyn Bridge Park, Barclays Center, and the Cultural District; revitalization of the Brooklyn Navy Yard; and the overall emergence of Brooklyn as a major worldwide brand. Commercial office market expansion driven by the growing innovation economy is the next step to reaping the benefits of these investments—and the demand is out there. We just need to provide the space and tools for such growth to happen.
This Strategic Plan was developed over a six-month period and in consultation with the Brooklyn Tech Triangle Task Force—a civically engaged group of tech leaders, local entrepreneurs, government, the real estate community, tech firms, community representatives, and educators who recognize this incredible opportunity for Brooklyn and New York City. The Strategic Plan builds on the input gathered from surveys of local and national tech companies, meetings with over 200 stakeholders, and guidance from an advisory committee of 27 government offices and agencies, as well as a task force of 36 local companies and organizations. It is an action plan for the 21st century and a blueprint to ensure that the Brooklyn Tech Triangle can accommodate the needs of this new economy.