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Israel-founded firms making “substantial impact”’ on New York State economy

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The 506 Israeli companies with offices in New York pumped a whopping $18.6 billion into New York states economy in 2018. The number increase to $33.8 billion when factoring spending on goods and services. This accounts for 2.02 percent of New York states GDP. In addition, the 506 Israeli companies directly or indirectly account for the employment of 27,502 New Yorkers.

This is who the pro-Palestinian Left wants America to boycott. Has anyone ever asked supporters of the BDS Movement to explain how a state such as New York will get this money pumped back into their economy? Has anyone ever asked about the 27,000 plus New Yorkers who would lose their jobs should Israel ever be boycotted? Probably not.

Israel-founded firms ‘making impact’ in New York State economy

506 companies in New York directly contributed $18.6 billion in revenue in 2018; overall economic benefit represented 2.02% of state’s GDP, study shows

By Shoshanna Solomon, June 26, 2019:

Israeli-founded companies are making a “substantial impact” on the New York State economy by generating significant revenue and hiring New Yorkers, according to the findings of a study released by the New York – Israel Business Alliance.

The independent study, released Tuesday, showed that Israeli-founded companies in New York directly contributed $18.6 billion in revenue in 2018. The economic benefit to New York jumped to $33.8 billion when factoring in additional spending on goods and services in the local economy, representing 2.02% of the state’s Gross Domestic Product.

The 506 Israel-founded companies in New York State directly employed 24,850 New Yorkers and indirectly employed 27,502 when accounting for the additional demand for local goods and services, the study said.

 

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