NYC takes on Silicon Valley with increased tech

Silicon Valley has long-held the crown as America's tech capital. But
New York is closing the gap.

Amazon recently announced plans to build half of its second
headquarters in the city.

And as Nick Harper reports it's also becoming a growing hub for tech companies.

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TAKE VO
New York - home of Wall Street, Times Square, Fifth Avenue Shopping.
And now, tech.

SOT-Stuart Feffer, Co-founder & CEO, Reality A.I.,: "New York is a
terrific tech community."

TAKE VO
When looking for a headquarters for his start-up, Reality A.I. Stuart
Feffer opted for New York. The company, which provides software for
sensors in the autonomous car industry, didn't feel Silicon Valley was
the place to be.

SOT: Stuart Feffer, Co-founder & CEO, Reality A.I.: "There are a lot
of startups here. It's also a great place to recruit talent - we have
a number of universities from which to recruit.

TAKE VO
A tech ecosystem study shows the number of tech jobs in New York
between 2006 and 2016 has grown by 30 percent, with around 76,000
positions added.
And that number is likely to climb with the addition of Amazon. Taking
advantage of generous government incentives, the online retail giant
has invested millions of dollars in several New York locations in
recent years, culminating with this announcement last month.

SOT- John Schoettler, Amazon Global Real Estate & Facilities VP: "And
I am here to confirm that New York will be home to one of Amazon's new
headquarters."

upsound - "Amazon is a scam, it's not true it gives a damn"

TAKE VO
But New York's political leaders have been criticized for offering
billions in tax breaks and grants to attract Amazon. And some
residents in New York's Long Island City, the location ofcompany's new
hub, say Amazon will strain the city's aging public transit system and
increase gentrification. One of them is Sabrina Rich.

SOT- Sabrina Rich, Student: "This is a working class, people of color
neighborhood and people are just going to be pushed out of their homes
because Amazon employees are going to be moving in."

TAKE VO
But the New York City government has promised to invest $180 million
into transit, infrastructure and housing.
And some analysts like Emily Raimes from Moody's Investor Service say
a robust tech sector will help strengthen the economy and improve job
prospects for communities like Long Island City.

SOT-Emily Raimes, Moody's Investor Service VP: "New York City is so
concentrated in finance that this actually brings some diversity to
New York City's employment base."

TAKE VO
Google is also reportedly considering a major expansion in the city,
with room for over 12,000 new workers.
Startups here attracted $11.5 billion in venture capital last year.
And with the Big Apple also able to draw the big names, New York is
clearly targeting tech and ramping up its rivalry with Silicon Valley.

SOC