Information Technology
High-tech industries like software development, gaming design, and Internet services are also growing; New York is the leading international internet gateway in the United States, with 430 Gbit/s of international internet capacity terminates, because of its position at the terminus of the transatlantic fiber optic trunkline. By comparison, the number two U.S. hub, Washington/Baltimore, has 158 Gbit/s of internet terminates. More than two-thirds of New Yorkers have Internet in their homes.
According to New York’s Economic Development Corporation, telecom carriers, cable companies, Internet service providers and publishers were a $23 billion industry in 2003. This represents over three percent of the city’s economy. The sector employs 43,000 city residents.
In 2006 Google moved into 311,000 square feet (28,900 m2) of office space in the second-largest building in New York City, at 111 Eighth Avenue in Manhattan. The location is one of the most important "telecom hotels" in the world, a giant networking facility adjacent to the Hudson Street/Ninth Avenue fiber highway, one of the most critical Internet arteries in the world. Employing more than 500 people, it is Google's largest engineering complex outside of company headquarters. Google products engineered in the New York offices include Maps, Docs, Checkout, Blog search, and Mobile search. Google's large investment in its New York operations has led to speculation about new multimedia initiatives by the company.
Read more about this topic: Economy Of New York City
Famous quotes containing the words information and/or technology:
“But while ignorance can make you insensitive, familiarity can also numb. Entering the second half-century of an information age, our cumulative knowledge has changed the level of what appalls, what stuns, what shocks.”
—Anna Quindlen (b. 1952)
“If we had a reliable way to label our toys good and bad, it would be easy to regulate technology wisely. But we can rarely see far enough ahead to know which road leads to damnation. Whoever concerns himself with big technology, either to push it forward or to stop it, is gambling in human lives.”
—Freeman Dyson (b. 1923)