Super Bowl Smackdown: Why New York is Best
Mary Thompson is tough. Boston tough. I know. She sits right next to me in the office, but even though I never win an argument with her, the New York vs. Boston debate goes well beyond Mary vs. Me.
I am thankful for that.
You see, when the actual Super Bowl is played on Sunday, the winner will be the team that scores the most points. Pretty simple. When it comes to which city is the champ economically, it also comes down to simple numbers.
And New York wins by two touchdowns.
First, some numbers.
Tourism alone brings in approximately $50 billion and 50 million visitors. Of that, $10 billion comes directly from Broadway. After the show, people can choose from 25,000 restaurants.
The sheer scale of the New York economy is overwhelming.
There is also a vibrant tech and start-up culture that does not get its due.
In the last two years, there have been about 400 start-ups in New York and about 140 are either internet or software related.
Venture capital investment last year was $2,2 billion — about $500 million more than Boston.
Innovation might not rival Silicon Valley — at least in terms of reputation — but New York City residents and companies push through about 3,000 patents a year.
Yes, the New York banks almost sunk the global financial system. But if you invested in them in 2012, you have done amazingly well. And if that investment meal doesn't fit your risk appetite, just travel a few miles out of town, and you'll find IBM , one of the best and steadiest Dow performers over the last few years.
A vote for Big Blue (IBM) is a vote for Big Blue (Giants).
Of course, Boston is much smaller, so arguments can be made about economic impact on a per capita basis, but on sheer numbers, New York is an economic behemoth.
And for football fans, there is this:
In the Super Bowl, the city with the lower unemployment rate wins the game 85-percent of the time. Right now, New York has a higher unemployment rate, hovering around 9-percent.
BUT, the last city with a higher unemployment rate to win the big game? The Giants over the Patriots in 2008.
You can follow Brian Shactman on Twitter @bshactman