Diversity=Tolerance=Talent= Economic Growth: NYC Above The Rest

By
Real Estate Agent with Compass

What makes New York City "The Empire City", "The Big Apple", "Gotham" different from the rest of the United States?

Diversity, Tolerance and Talent.
Although most major American cities are diverse, New York represents the widest variety of cultures and ethnicities. With more than 8 million residents, one can see people from hundreds of different cultures every day. Diversity is responsible for making New York City such a tolerant place.

NY Harbor, Statue of Liberty

The city's reputation for diversity and openness explains why New York's population density is steadily increasing in contrast to many other American cities.

Multi ethnicities and socio-economic demographics can be found on every NYC block. You run into people all the time that are different. You have no time to worry why that person has purple hair or a different color skin or speaks a different language. Nobody cares.

"Variety is the spice of life."

All New Yorker's have a sense of aspiration. The wealthiest CEOs ride the subways with the poorest porters, but they all share the same strong work ethic.

"If you can make it here....You can make it anywhere!"

In New York City everyone just wants you to get the job done. It doesn't matter where you come from or who your family is.

The rules of economic development have changed. Companies were the force behind the old rules. Economic developers used financial and other incentives to lure companies to their communities. Now, however, people are the center of the action. High human capital. Individuals AKA talent-are the key to success in this new era of economic growth. Their ideas and creativity are the most important ingredients in the economic success of a company or region.

Firms have always located near their key factors of production. In the past, companies located near raw materials, good transportation, or low costs. So, it is not surprising that corporations in today's knowledge-based economy are increasingly making location decisions based on where the talent pool is located.

Places with talented people both grow faster and are better able to attract other talented people.

A connection exists between a metropolitan area's level of tolerance for a range of people, its ethnic and social diversity, and its success in attracting talented people, including high-technology workers. People in technology businesses are drawn to places known for diversity of thought and open-mindedness. Diverse, inclusive communities that welcome gays, immigrants, artists, and free thinkers are ideal for nurturing creativity and innovation, both keys to success in the new economy.

2009 is the 400th anniversary year of the arrival of Henry Hudson aboard the Dutch vessel 'Halve Maen' to New York City. The Dutch colony of New Amsterdam flourished into a modern community of cobblestone streets, fire and police patrols, a hospital, and a protective stone wall that is now called Wall Street. In 1664, the British conquered the colony and renamed it "New York" after the English Duke of York.

The New Netherlanders negotiated 24 articles of provisional transfer with the British which sought to guarantee New Netherlanders liberties, including freedom of religion, under British rule. New Yorkers share with our Dutch friends a strong sense of tolerance, and a great appreciation for diversity, and innovation.

New York City's Dutch roots and its waterfront will be celebrated with a special Harbor Day on September 13. The first ever Harbor Day will feature events and activities including free bike rental and ferry rides to encourage New Yorkers and visitors to enjoy the City's waterfront districts in Manhattan and Brooklyn and on Governors Island.

Courtesy of:

Mitchell Hall, Associate Broker, The Corcoran Group

©Mitchell Hall 2006-2009

Equal Housing Opportunity

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©Mitchell Hall 2006-2019

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission. 

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Rainmaker
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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Mitchell, I love the diversity of New Yorkers.  It's interesting that you wrote about the British and the Dutch, I've found many people are unaware of the Dutch influence in New York.  My block is named after a Dutch owner...

Aug 03, 2009 10:09 AM #1
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Mitchell J Hall
Compass - Manhattan, NY
Lic Associate RE Broker - Manhattan & Brooklyn

Hi Carole, The Dutch had an enormous influence on New York that is still in evidence today. Many NY neighborhoods, streets and buildings have Dutch names and architecture. The Dutch are a tolerant people. The other colonies had the Puritans and Aristocrats. Everyone was welcome in NY if they could trade. It is where capitalism and religious freedom began.  

Real estate deal of all time - The Dutch purchasing Manhattan Island from the Native Chiefs for $24.

Aug 03, 2009 11:50 AM #2
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Brian Brumpton
Keller Williams Boise - Boise, ID
Boise Idaho Real Estate

Great blog post Mitchell, I had no idea about some of the things you mentioned here. 

Sep 05, 2009 07:42 AM #3
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Mitchell - what a great glimpse into all that makes NYC the wonderful city it is. I am always amazed when I visit how diverse, and how vibrant, it is.

Jeff

Sep 06, 2009 06:40 AM #4
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Mitchell J Hall

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