ISRAEL'S ECONOMIC CONTRIBUTIONS TO NEW YORK CITY
A CURATED LIST OF FACTS & FIGURES
New York City's relationship with Israel goes far beyond culture, food and shared history. Israeli-founded businesses contribute billions of dollars to the city's economy, employ thousands of New Yorkers and help drive innovation in technology, healthcare, finance and other industries.
In March 2026, the Mamdani Administration/New York City Economic Development Corporation removed a webpage highlighting the city's business ties with Israel. The removal was reported in May. NYCEDC said the change was part of routine website updates and that a similar page about Japan was also removed.
That's why I'm sharing these figures here.
Whatever the reason for the change, the economic contributions of Israeli-founded businesses remain worth documenting.
ISRAEL'S ECONOMIC IMPACT ON NYC
2025 Economic Impact Report - based on 2024 data
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590 Israeli-founded companies operating in New York City
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27,471 people directly employed by those companies
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50,648 total jobs supported across the city's economy, including indirect and induced employment
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$160,126 average annual compensation, including salary, bonuses and benefits
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$8.1 billion in total earnings generated
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$12.4 billion in estimated economic value added
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$17.9 billion in total economic output
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20 Israeli-founded unicorn companies valued at more than $1 billion
These figures come from the United States–Israel Business Alliance's 2025 New York–Israel Economic Impact Report. Read it here.
MORE THAN 100 YEARS OF CONNECTIONS
New York has welcomed Jewish immigrants, entrepreneurs, scientists, artists and business owners for generations. Today, the city's Israeli-founded businesses operate in industries ranging from financial technology and cybersecurity to medical innovation, artificial intelligence, food and hospitality.
According to the 2025 economic impact study, 142 Israeli-founded companies established operations in New York City during the six years following the previous report, creating 3,674 jobs.
The city's relationship with Israel also extends to government partnerships. In September 2023, New York City and Israel announced a commitment to strengthen business and innovation ties.
On May 19, 2025, Mayor Eric Adams and Israeli Minister of Economy and Industry Nir Barkat signed a Declaration of Intent establishing the NYC–Israel Economic Council. The initiative was designed to encourage business partnerships, investment, technological collaboration and job creation.
NEW YORK CITY'S INVESTMENTS IN ISRAEL
In December 2025, an official New York City executive order reported that the city's five pension systems, serving more than 750,000 employees, retirees and beneficiaries, held more than $300 million in Israeli bonds and other Israeli assets.
These investments formed part of a global pension portfolio valued at nearly $300 billion at the time.
UPDATE - OCTOBER 15, 2026: On January 1, 2026, Mayor Zohran Mamdani revoked former Mayor Eric Adams' executive order opposing discriminatory divestment from Israel.
In October 2026, New York City Comptroller Mark Levine reversed his campaign pledge to resume purchasing Israel bonds for the city's pension funds. Levine stated that the decision was based on financial considerations and technical challenges, not politics.
The decision does not establish that the city's previously reported $300 million in Israeli investments has been sold. It concerns the purchase of additional Israel bonds.
SOURCES:
NYC Executive Order 60 - December 2025
https://www.nyc.gov/mayors-office/news/2025/12/executive-order-60
NYC Executive Order 1 - January 2026
https://www.nyc.gov/mayors-office/news/2026/01/executive-order-01
NY1 - October 15, 2026
https://ny1.com/nyc/all-boroughs/politics/2026/10/15/nyc-comptroller-walks-back-pledge-to-buy-israel-bonds
THE REMOVED NYC ECONOMIC DEVELOPMENT WEBPAGE
In May 2026, news reports revealed that the Mamdani Administration/NYC Economic Development Corporation had removed a page highlighting New York City's economic and cultural ties with Israel.
NYCEDC confirmed that the page had been removed in March and explained that it was consolidating international business information. The agency also said a similar Japan page had been removed and that it continued working with Israeli-founded companies.
The former page highlighted the city's Israeli population, Jewish community and international business relationships.
The removal of a webpage does not change the economic data documented in independent studies and official government reports.
WHY THESE NUMBERS MATTER
Israeli-founded businesses are part of New York City's economy. Their employees live and work here, support neighborhood businesses, pay taxes, develop new technologies and contribute to the city's growth.
Their contributions are not limited to one industry or neighborhood. They extend across technology, finance, healthcare, food, hospitality and many other sectors.
New York's Jewish and Israeli communities have helped shape this city for generations. Their economic contributions deserve to be recognized, documented and remembered.
SOURCES & FURTHER READING
United States–Israel Business Alliance
2025 New York–Israel Economic Impact Report
usisrael.co/impact-reports
New York City Mayor's Office
NYC–Israel Economic Council announcement, May 19, 2025
nyc.gov
New York City Mayor's Office to Combat Antisemitism
2025 Report, including Israeli-founded company employment figures
nyc.gov
New York City Executive Order 60
December 2, 2025 - City pension investment figures
nyc.gov
The Times of Israel
2025 coverage of the New York–Israel Economic Impact Report
timesofisrael.com
Washington Free Beacon
May 5, 2026 - Reporting on the removed NYCEDC webpage
freebeacon.com
Jewish News Syndicate (JNS)
May 6, 2026 - NYCEDC's explanation of the webpage removal
jns.org
Economic figures are from the 2025 report using 2024 data, unless otherwise indicated. They should not be interpreted as live 2026 employment or investment totals.
A FRIENDLY REMINDER: JEWISH NEW YORK HELPED SHAPE AMERICA
The contributions of New York City's Jewish community extend far beyond business, technology and economic growth. They are woven into the history, culture and identity of the city itself.
One of the most powerful examples stands in New York Harbor. The words that helped make the Statue of Liberty an international symbol of hope and welcome were written by Emma Lazarus (1849–1887), a Jewish American poet born in Manhattan to a prominent Sephardic Jewish family.
Deeply affected by the persecution of Jews in Eastern Europe, Lazarus became a passionate advocate for Jewish refugees arriving in New York. She worked to support immigrants fleeing antisemitism and violence, helping them find safety and opportunities for a new life in America.
In 1883, Lazarus wrote The New Colossus to help raise funds for the Statue of Liberty's pedestal. Her poem reflected her compassion for refugees and her belief that America could offer hope to people escaping persecution.
Her words were later inscribed on a bronze plaque installed inside the Statue of Liberty's pedestal in 1903, sixteen years after her death.
Today, her poem remains one of the most recognizable expressions of America's promise to immigrants and refugees.
THE NEW COLOSSUS
By Emma Lazarus, 1883
Not like the brazen giant of Greek fame,
With conquering limbs astride from land to land;
Here at our sea-washed, sunset gates shall stand
A mighty woman with a torch, whose flame
Is the imprisoned lightning, and her name
Mother of Exiles. From her beacon-hand
Glows world-wide welcome; her mild eyes command
The air-bridged harbor that twin cities frame.
"Keep, ancient lands, your storied pomp!" cries she
With silent lips. "Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
Send these, the homeless, tempest-tost to me,
I lift my lamp beside the golden door!"
A Jewish New Yorker's words became part of the enduring symbolism of the Statue of Liberty, welcoming generations of people seeking a new life in America.
SOURCE: National Park Service — Emma Lazarus and The New Colossus
https://www.nps.gov/stli/learn/historyculture/emma-lazarus.htm
https://www.nps.gov/stli/learn/historyculture/colossus.htm
