Why New York is Interesting For your Tourism Startups

Tourism is the fastest growing industry in the world, leading to Job creations and investment. When it comes to the Empire States, it is not an exception. According to the Division of Research and Statistics of NY city labor department, with eleven geographically diverse regions, the New York States generate an economic impact of $114 Billion with a record arrival of 252.7 million visitors in 2018. The department also acknowledges that Tourism is the third-largest employer.

The New York State is one of the most competitive states in the US; to attract new startups, the local government offers grants to eligible companies and organizations that strengthen tourism and attract visitors to the city. The city also provides matching funds to help local regions reach new market areas and expand programs that generate overnight stays. The city support startups and business growth through a variety of funds, loan, grants, and Financial Incentives. Innovate NY Fund is designed to provide investment capital seed-stage businesses supporting innovation, job creation, and high-growth entrepreneurship throughout New York State. According to the New York labor department, since the program’s launch in December 2012, the local government has made investments in 81 NYS companies. The Fund’s capital was matched with over $323 million in private sector investment funding…