Tech:NYC Digest: February 22

Tech:NYC Digest: February 22

February 22, 2023 • Estimated Reading Time: 7 minutes

Wednesday, February 22, 2023

In today’s digest, the future of funding the MTA, why annual raises remain a non-negotiable for employers, and the AI programs actually transforming task management in the workplace.

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  • A “payroll mobility tax,” which is used to fund the MTA’s operations and is levied against employers within the MTA’s commuter district, will increase from .34% to .50% if it ends up being included in the final state budget. Non-NYC counties in the commuter district zone, however, want to be exempted. (Times Union)

  • NYC’s overhaul of its commercial waste collection program will be pushed back until the second half of 2024, citing a “wildly unrealistic” rollout timeline established by the previous administration. (Gothamist)

  • Take a peek at these new renderings of a new culture hub in Brooklyn dedicated to closing the wealth gap.

In other reading:

  • How to File Your Taxes for Free in NYC (THE CITY)

  • How abortion pill access in New York is threatened by a Texas court (Gothamist)

  • An Ice Factory from the 1900s is Now A Spectacular New Bronx School (New York Times)

Here’s a 2023 trend we didn’t necessarily see coming: raises.

  • 80% of employers said they plan on raising workers’ base pay this year — that’s down considerably from 92% last year, but still more than than in pre-pandemic times, according to a new report out today from Payscale. (Axios)

  • Even more unexpected, perhaps, is that 56% of employers said those raises would be greater than 3%.

Employers are trying to keep up with inflation, of course, but with the inflation rate running at around 6% in the US year over year, most can’t keep pace. That could be another challenge for cracking the talent retention code and flattening turnover levels.

In other tech news:

  • Amazon reversed previous RTO policies and will require corporate workers to be in the office at least three days per week beginning May 1. (CNBC)

  • The National Labor Relations Board ruled that companies can no longer offer severance agreements that prevent employees from making disparaging remarks about their former employers. (Axios)

  • A recent poll of corporate technology managers found that, while 82% expect a recession this year, 62% replied that technology spending at their companies would be the same or increase compared with 2022. (New York Times)

In other reading:

  • From CEOs to Coders, Employees Experiment with New AI Programs (Wall Street Journal)

  • Tech people are taking fashion jobs. What’s going on? (Vogue)

  • ‘Should I Be Honest in My Exit Interview?’ (The Cut)

  • DEN, a New York-based home design and construction management startup, raised $3 million in seed funding. Gutter Capital and Crossbeam Venture Partners co-led the round.

  • Entitle, a NYC and Tel Aviv-based cloud permissions management platform, raised $15 million in seed funding. Glilot Capital Partners led the round.

The Transit Tech Lab is accepting applications for its 2023 challenges for the chance to pilot technology with some of New York’s leading public transit agencies, including the MTA, Port Authority, NJ TRANSIT, and NYC DOT. Learn more and apply by March 2 here.Downtown Brooklyn Partnership is accepting applications for its Make It In Brooklyn Female Founders pitch contest. Five female-led, early-stage startups will be selected for a chance to win a $5,000 cash prize. Learn more and apply by March 3 here.Element 46 Startup Accelerator, a Westchester County program for tech startups, is accepting applications for its Spring cohort. Applications are reviewed on a rolling basis. Learn more and apply by March 6.FounderBoost is accepting applications for its next NYC cohort. The six-week program is a tech startup “pre-accelerator” to help founders prepare for accelerator programs, seed investment, and revenue strategy. Learn more and apply by March 15 here.Entrepreneurs Roundtable Accelerator is accepting applications for its Summer 2023 NYC accelerator program. ERA invests $150,000 for a 6% post-money SAFE and provides a four-month intensive mentorship program. Learn more and apply by April 17 here.The Grand Central Tech Residency Program is accepting applications for its Fall 2023 cohort. Selected startups receive free office rent for a year, as well as other community and programming benefits. Learn more and apply by July 15 here.

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