II Simpósio Internacional PwC Inovação em Gestão Pública Abril 2011

Transcription

1 II Simpósio Internacional PwC Inovação em Gestão Pública Abril 2011

2 Agenda Importance of New York City s financial services sector Responses to the recession Investment trends in New York City and State 2

3 Importance of New York City s financial services sector Central Park, New York City 3

4 New York City is highly reliant on its financial services sector The city s financial services sector accounts for: 12% of jobs, but 30% of all wages 70% of the largest companies Wall Street supports the rest of the city s economy: Each job created in the securities industry leads to the creation of two additional jobs in other industries Average securities and commodity contracts industry wages are 421% above the citywide average Financial Services' Share of Total Employment Financial Services 12% All Other Sectors 88% Financial Services' Share of Total Wages Financial Services 30% 64% All Other Sectors 70% 4

5 The recession hit financial services harder than the rest of the city s economy Decrease in New York City's Financial Services Jobs, Pre-Recession Peak to Mid-Recession Trough 0.0% D e c r e a s e i n E m p l o y m e n t -2.0% -4.0% -6.0% -8.0% -10.0% Financial Services -11.1% Private Sector -6.1% T otal Employment -5.5% -12.0% 5

6 Responses to the recession: Attract and retain investment and talent High Line Park, New York City 6

7 Fighting the downturn by attracting investment, talent, and businesses Attract and retain investment and talent Major financial and business firms committed to city - Investment in city: Goldman Sachs and New York Equity Fund Government and business work to improve access to talent - Joint initiative: Partnership for a New American Economy NYC Seed - Portfolio company: HowAboutWe New applied science and engineering research campus - Applicants: Stanford University, Indian Institute of Technology Bombay 7

8 Attract and retain investment and talent Major financial and business firms committed to city Goldman Sachs Urban Investment Group - $61 million investment to rehabilitate affordable housing Units rehabilitated with Goldman Sachs NYEF Investment - New York City Investment Fund 8

9 Attract and retain investment and talent Government and business work to improve access to talent The City has supported critical expansions at private universities - Columbia in West Harlem - Fordham in Lincoln Square Government and business leaders advocate for immigration reform - Partnership for a New American Economy To compete in the 21 st Century global economy, America...needs an immigration system that secures our borders while welcoming immigrants who are essential for America s economic growth. - Partnership For a New American Economy, Statement of Principles 9

10 Attract and retain investment and talent NYC Seed Partnership between: - New York City Investment Fund - ITAC - New York State Foundation for Science, Technology & Innovation - Polytechnic Institute of NYU Maximum investment per portfolio company Provides funding, mentorship, and support to seed-stage technology entrepreneurs Goal is to help deserving companies move from idea to product launch $200,000 10

11 Attract and retain investment and talent New applied science and engineering research campus The City of New York is offering City-owned land and a capital contribution City received 18 expressions of interest to develop and operate the center including respondents from 27 academic institutions from around the world We want New York City to grow as the 21 st Century capital of innovation, and helping develop a new or expanded applied sciences and engineering school may be one of the most impactful things we can do to ensure that happens. - Robert K. Steel, Deputy Mayor for Economic Development 11

12 Responses to the recession: Stimulate growth sectors Illustration of Alexandria Center for Life Science -NYC 12

13 Positioning New York to succeed by supporting high growth industries Stimulate growth sectors Excelsior Jobs Program - Target sectors: high-growth and economically critical sectors Alexandria Center for Life Science -NYC - Anchor tenant: ImClone (Eli Lilly and Company subsidiary) 13

14 Stimulate growth sectors Excelsior Jobs Program State job creation and investment tax incentive program Targets high-growth and economically critical sectors, such as: - Technology industries - Financial services - Pharmaceuticals Strict accountability standards $250 million annual cap 29 companies joined between January and March of 2011, collectively committing to: Create 1,805 jobs Invest $137.5 million in capital Spend $290.6 million on R&D 14

15 Stimulate growth sectors Alexandria Center for Life Science -NYC Collaboration of the New York City Economic Development Corporation and Alexandria Real Estate Equities Public/private investments include: City s first major commercial bioscience office park Alexandria Real Estate Equities $700 million New York City Investment Fund $10 million for tenant improvements City of New York - $13.4 million 1.1 million square-feet for stateof-the-art office and laboratory space First phase of construction was completed in Fall 2010 New York City Industrial Development Agency - $5.6 million Borough of Manhattan - $500,000 15

16 Investment trends in New York City and State Apple Store, New York City 16

17 New York is attracting and retaining more investments and talent The city s and region s talent pools are strong and growing New York State s venture capital market is performing well Foreign direct investment in New York City is on the rise On technology and especially internet investments, NY [State] seems to already have supplanted Massachusetts as #2 behind Silicon Valley. - CB Insights, regarding venture capital investments and deals 17

18 The city is a strong magnet for talent New York City: - Outperforms global competitors in intellectual capital & innovation metrics New York City adults with a Bachelor s degree Saw a 16% increase in collegeeducated adults from 2004 to 2009, higher than the 12% rise nationwide The tri-state area: - Has the nation s highest concentration of H-1B visas for skilled immigrants 34% 18

19 New York State s venture capital market is performing strongly Investments increased by 90% between the third and fourth quarters of 2010 The number of deals rose by 29% during this period Experienced more than a 60% increase in both investment and deals between the fourth quarters of 2009 and 2010 New Y ork State Venture Capital Deals, Fourth Quarter Fourth Quarter 2010 $500 $450 $400 $350 $300 $250 $200 $150 $1 00 $50 $0 70 $466 $286 Q $319 $355 $245 Q Q Q Q Quarter Venture Capital Deals Venture Capital Investment (Millions of Dollars) New York State Venture Capital Inv estm ent, Fourth Quarter Fourth Quarter Q Q Q Q Q Quarter 19

20 Foreign direct investment in New York City is on the rise Funded 161 greenfield projects between May 2009 and May Represented 30% of all projects between 2003 and May 2010 Invested $3.3 billion between May 2009 and May Represented 25% of all investment between 2003 and May Jan May 2009 Jan May 2010 Foriegn Direct Inv estm ent in Capital, January May 2010 F D I Ca p ita l In ves tm en t (B illion s of D olla r s ) G reenfield Projects Greenfield Projects Supported by Foriegn Direct Inv estm ent, January May 2010 $14.0 $12.0 $10.0 $8.0 $6.0 $13.0 $9.7 $4.0 $2.0 $Jan May 2009 Jan May

21 New York City and State must continue to attract investment and talent to remain competitive Efforts to attract and retain investment and talent should: Provide targeted support to businesses in high-growth sectors and entrepreneurs Target growth sectors Aim to diversify the economy to guard against downturns Attract and keep talent Maintain the city s world-class status by avoiding uncompetitive tax policies and regulations Stay business-friendly 21

22 What makes New York City great is that it welcomes talent. - Mortimer B. Zuckerman Chairman, Boston Properties Chairman and Editor-In-Chief, U.S. News and World Report 2011 PricewaterhouseCoopers Brasil. Todos os direitos reservados. Neste documento, "PwC" refere-se à PricewaterhouseCoopers Brasil, firma membro da PricewaterhouseCoopers International Limited, constituindo-se cada firma membro da PricewaterhouseCoopers International Limited pessoa jurídica separada e independente The, Inc. All Rights Reserved.