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flag New York’s tech boom created 200,000 jobs, driving rent hikes and sparking political debate over affordability.

flag New York’s tech industry has grown to support over 200,000 jobs, transforming neighborhoods from Midtown South to Brooklyn with major companies like Google, Meta, Microsoft, and Salesforce establishing large presences. flag Despite setbacks including Amazon’s 2019 project withdrawal and post-pandemic remote work trends, the sector rebounded, driving record office leasing—over 700,000 square meters in 2024—and expanding into historic buildings. flag High-paying tech jobs have boosted the local economy and real estate, but also contributed to a 40% rent increase in Manhattan, now averaging $4,500 monthly. flag This has fueled political action, including a 2025 mayoral campaign to freeze rents on nearly a million units, as debates continue over whether tech or long-standing finance-driven inequality is the primary cause of affordability challenges. flag Balancing growth with housing access remains a key issue.

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