Israeli-founded companies in the State of New York are generating $19.5 billion of gross economic output, according to a 2025 New York – Israel Economic Impact Report. The study, which is an update from its 2019 impact study, identified 648 Israeli-founded companies in New York State that created a total of 57,145 jobs and $8.6 billion in total earnings in 2024. In all, these organizations contributed $13.3 billion in value added to the state economy.
“The data affirms that Israeli founders continue to be indispensable to New York,” said Aaron Kaplowitz, president of USIBA. “In addition to creating local jobs and bringing much-needed revenue to local communities, Israelis are integral to propelling the state’s innovation economy forward.”
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Manhattan
(Photo: DBOX for CIM Group/Macklowe Properties)
While the report focuses on Israelis’ impact statewide, naturally most economic activity is in New York City. The Big Apple is home to 590 Israeli-founded companies, which supported 50,648 total city jobs and generated $8.1 billion in total earnings.
In 2024, they contributed $12.4 billion in value added to the city’s economy and generated $17.9 billion in gross economic output. In total, the city serves as the global or U.S. headquarters for 20 Israeli-founded unicorns – privately-held companies with a valuation of at least $1 billion, such as BigID ($1.2 billion), Fireblocks ($8 billion), and Wiz. “When Israeli tech entrepreneurs think about entering the U.S. market or positioning their companies for global growth, New York City is at the top of the list,” added Kaplowitz. “Ultimately, this cosmopolitan appeal translates into more local jobs and more money flowing through the city’s economy.”
The report has reviewed the change in Israeli presence and value since its inaugural report in 2019, before global events like the COVID-19 pandemic and Israel’s war with Hamas took place. Despite these events, the report indicates healthy expansion and long-term economic growth indicators: “During that period, the number of Israeli-founded companies in the
state spiked from 506 to 648,” the report said. “Israeli-founded companies created an additional 3,674 direct jobs and 4,793 total jobs.”
Perhaps the most telling indicator of economic strength, the number of Israeli-founded unicorns in the state – all of which are based in New York City – increased from five to 20.
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Aaron Kaplowitz
(Photo: United States – Israel Business Alliance)
“Israeli founders have faced strong economic headwinds over the past six years, most notably from COVID-19 disruptions and geopolitical challenges,” concluded Kaplowitz. “Nevertheless, Israelis have a knack for turning challenges into opportunities – in some cases big opportunities – and the data show that this resilience has also proven beneficial to New Yorkers.”
USIBA aims to create economic opportunities between individual American states and Israel. It specializes in organizing economic development missions to Israel for governors, higher education officials, and business leaders. It also connects Israeli technology solutions to local challenges. The report was created after commissioning ABLE Operations, an independent economic and workforce analytics firm that models economic impact. The criterion for inclusion is Israeli-founded companies that actively and verifiably operated in New York State in 2024. “Israeli-founded” refers to at least one co-founder who grew up in Israel.