Israeli firms boosted New York\u2019s economy by a whopping $13.3 billion and helped fuel nearly 58,000 jobs last year, a new study shows \u2014 but the gains could drop if Zohran Mamdani becomes mayor, a CEO warned Monday.<\/p>\n
About 90% of the billions of dollars and massive job haul from 648 Israeli-founded businesses was focused in the five boroughs, according to findings by the United States-Israel Business Alliance.<\/p>\n
How The Post told the story of Zohran Mamdani\u2019s refusal to say Hamas should stop fighting Israel.<\/p>\n
The CEO of an Israeli biotech company told The Post his business could be another to flourish for the Big Apple \u2014 but that a Mamdani administration would make him think twice about landing in the city because of the leading Democratic nominee\u2019s staunch criticism of the Jewish state.<\/p>\n
\u201cI need to see if his words have any meaningful impact on the ground,\u201d said the company exec, who did not want to be identified, as the city prepares to elect its next mayor Nov. 4.<\/p>\n
\u201cIf someone on our team is moving to New York, I want them to be in a pleasant area where they don\u2019t feel fearful, or, from a business perspective, deal with people that are shying away because the company\u2019s Israeli,\u201d the CEO said.<\/p>\n
Some city residents are reportedly planning to flee the Big Apple if Mamdani is elected mayor. Getty Images<\/p>\n
The nearly 650 Israeli-founded firms already doing business in the Empire State have directly created 28,524 jobs and a total of 57,145 jobs when accounting for related factors, the New York-Israel Economic Impact Report states.<\/p>\n
Out of the total number of jobs, about 88% were concentrated in the city.<\/p>\n
About $13.3 billion in total value was added to the state economy through the firms, with $12.4 billion just in the city alone, the study found.<\/p>\n
\u201cWhen Israeli tech entrepreneurs think about entering the US market or positioning their companies for global growth, New York City is at the top of the list,\u201d US-Israeli Business Alliance President Aaron Kaplowitz said in a statement.<\/p>\n
US-Israeli Business Alliance President Aaron Kaplowitz said New York typically has a great \u201ccosmopolitan appeal\u201d for firms. Aaron Kaplowitz<\/p>\n
\u201cUltimately, this cosmopolitan appeal translates into more local jobs and more money flowing through the city\u2019s economy.\u201d<\/p>\n
But the biotech CEO said that appeal might not be enough to keep firms or attract new ones, depending who is the next mayor. \u00a0<\/p>\n
He said he is weighing taking his firm to either New York and Boston \u2014 and stressed that Mamdani\u2019s performances in the debates and other remarks he has made have not been reassuring. The war in Gaza has been a focal point for mayoral candidates this year. \u00a0<\/p>\n
The CEO specifically cited Mamdani refusing to say Israel should exist as a Jewish<\/a> state and his reported soft stance on Hamas.<\/a><\/p>\n Mamdani enjoys a significant lead in the mayoral race. James Messerschmidt<\/p>\n \u201c[Mamdani\u2019s] words might not affect policy, but if the head of the city keeps repeating anti-Israel rhetoric, it can definitely have an effect,\u201d the biz exec said.<\/p>\n \u201cAnd that\u2019s something we\u2019ll need to take into account.\u201d\u00a0<\/p>\n The company head said he and other Jews don\u2019t understand why Mamdani has taken such a hard stance on Israel when the city has such a high Jewish population.<\/p>\n \u201cAnd if it causes Israeli companies to leave New York, obviously it will have a major impact on the economy,\u201d the CEO argued.<\/p>\n \u201cI have Israeli friends who moved to New York with the Israeli companies that they are working for, and they\u2019ve been there for years, and they\u2019ve described to me after Oct. 7 how difficult it\u2019s been to live in the city.\u201d<\/p>\n While Mamdani has faced criticism over statements about Israel, the mayoral front-runner going up against former Gov. Andrew Cuomo and GOP candidate Curtis Sliwa has vowed to protect Jewish New Yorkers against a rise in antisemitism.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Israeli firms boosted New York\u2019s economy by a whopping $13.3 billion and helped fuel nearly 58,000 jobs last…\n","protected":false},"author":3,"featured_media":337141,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[5229,12648,99,5248,405,403,5226,5225,5228,5227,5341,67,586,132,5230,68,1154,2969,5301],"class_list":{"0":"post-337140","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-america","9":"tag-antisemitism","10":"tag-israel","11":"tag-metro","12":"tag-new-york","13":"tag-new-york-city","14":"tag-newyork","15":"tag-newyorkcity","16":"tag-ny","17":"tag-nyc","18":"tag-nyc-mayoral-election-2025","19":"tag-united-states","20":"tag-united-states-of-america","21":"tag-unitedstates","22":"tag-unitedstatesofamerica","23":"tag-us","24":"tag-us-news","25":"tag-usa","26":"tag-zohran-mamdani"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115448807819449135","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/337140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=337140"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/337140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/337141"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=337140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=337140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=337140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}