Policies and Innovation Hubs

Cities around the world are seeking to accommodate the needs of a new generation of technology based industries and firms, whose innovation model depends on proximity and whose talent pool prefers urban locations and lifestyles. Such cities are motivated to host a larger portion of this innovation economy in order to grow a new base of jobs, adjust to the process of industrial change, or leverage technology for the challenges of sustainability, resilience, and social cohesion. Many are trying to raise their innovation profile by focusing investment and promotion on new ‘innovation hubs or districts’, locations within their city where the innovation economy might cluster and concentrate. The innovation economy is proving to be a disruptor and opportunity for cities, businesses and the real estate sector. Consequently, this thesis focuses on the effectiveness of governmental policies in promoting and sustaining the tech industry and its spatial manifestation, innovation districts, in New York City.