New York is encouraging women and minority groups to New York. Those who own companies in the area are being invited to join the hub of New York and open their businesses there. Investing $40 million into this promotion, the city of New York is very serious about this.
This money will be used to help these companies – often left out in the cold – to access affordable loans. As well there is a new M/WBE program ad campaign featuring local success stories to encourage these companies to relocate.
Hopefully this initiative will reverse the trend coined by Market Watch analyst that found “female managers are not only under-represented in technology companies, they’re also paid significantly less than men.”