The Israeli Business Economy in New York: 2026

Executive Summary

$19.5 Billion in Output. 57,000 Jobs. A Political Environment That Wants Them Gone.

Israeli-founded companies generate $19.5 billion in gross economic output across New York State and support 57,145 jobs. The footprint spans technology, real estate, food, and finance — from the world's tallest residential tower to the #1 hummus brand in the US.

Seven months into a mayoral administration that supports the Boycott, Divestment and Sanctions movement, this report asks a single question: is the footprint shrinking or growing?

The data shows both. The startup count is growing — 470 Israeli tech companies in New York City, up from 56 when tracking began. But the institutional framework is eroding. The anti-BDS executive order was revoked on day one. The NYC-Israel Economic Council is inactive. The EDC removed its Israel business page. An Israeli-founded drone manufacturer was evicted from the Brooklyn Navy Yard. And the mayor has proposed the highest combined corporate tax rate in the nation.

Meanwhile, Florida — where Israeli-founded companies generate $7.3 billion in output — is being described as the new front door. Israel Tech Week 2026 was held in Miami, not New York.

This report presents the economic data. The conclusions belong to the reader.

Five Headline Findings

$19.5 billion — gross economic output from 648 Israeli-founded companies in New York State.

590 — Israeli-founded companies in New York City, 90% of the state total, generating $12.4 billion in value added and 50,648 jobs.

$37 billion — potential pension fund losses over a decade if NYC divests from companies targeted by BDS, per ADL/JLens analysis (June 2026).

470 — Israeli startups currently operating in New York City, up from 56 when tracking began in 2013, with 600+ open positions.

$7.3 billion — gross economic output from Israeli-founded companies in Florida, the state increasingly described as the front door.

The Political Context

Zohran Mamdani took office January 1, 2026 as a supporter of the BDS movement. In his first seven months: revoked anti-BDS and IHRA executive orders on day one. Rejected the Comptroller's Israel Bonds investment plan. Appointed a Working Families Party co-chair and Israel critic to lead the city's international affairs office. The Brooklyn Navy Yard evicted Easy Aerial, an Israeli-founded drone manufacturer employing 55 people. The NYC Economic Development Corporation removed its Israel business landing page. The NYC-Israel Economic Council has been inactive since inauguration. Mamdani has signaled intent to reassess the Cornell-Technion partnership on Roosevelt Island. He has proposed raising the statewide corporate tax rate from 7.25% to 11.5% and adding a 2% income tax surcharge on earnings above $1 million. None of this is editorializing. It is the policy record through July 2026.

The question the data answers: is the footprint shrinking or growing?

The Footprint: USIBA Baseline Data

The 2025 New York–Israel Economic Impact Report, published by the United States–Israel Business Alliance (USIBA) in October 2025, is the most comprehensive dataset available.

New York State

648 Israeli-founded companies. 28,524 direct jobs. 57,145 total jobs with multiplier effects. $19.5 billion in gross economic output. $13.3 billion in value added. $8.6 billion in total earnings. Average salary: $150,486. Company count up from 506 in 2019.

New York City (90% of the state total)

590 Israeli-founded companies. 27,471 direct jobs. 50,648 total jobs. $17.9 billion in gross economic output. $12.4 billion in value added. $8.1 billion in earnings.

Unicorns

20 Israeli-founded unicorns in NYC — up from 5 in 2019. The largest concentration of Israeli unicorns outside Israel.

Separately, Israeli Mapped in NY tracks 470 Israeli tech startups currently operating in the city, with 600+ open positions. Cybersecurity is the largest sector (~80 companies), fintech second (~40), digital health the fastest-growing vertical. Roughly 10% were founded by women.

I. Technology

Named Companies and Valuations

Wiz — cloud security. Acquired by Google/Alphabet for $32 billion in 2025 — the largest cybersecurity acquisition in history. Founded in Tel Aviv, US-headquartered in New York.

Fireblocks — digital asset infrastructure. $8 billion valuation. Headquartered in New York. Customers include BNY Mellon, BNP Paribas, Revolut.

Monday.com — work management platform. US headquarters in New York. Publicly traded (MNDY). Market cap exceeds $12 billion.

Payoneer — cross-border payments. $80 billion+ annual payment volume. Publicly traded (PAYO). Headquartered in New York.

CyberArk — identity security. Publicly traded (CYBR). Market cap exceeds $15 billion. Acquired Venafi for $1.54 billion in 2024.

Varonis — data security. Taken private in 2024 at $4.6 billion by Thoma Bravo. Founded by Israeli entrepreneurs, headquartered in New York.

Riskified — e-commerce fraud prevention. Publicly traded (RSKD). Headquartered in New York. Opened a development center in Portugal; only 60% of employees now in Israel, down from 70% in 2022.

Salt Security — API security. Israeli-founded. NYC-based.

Zafran Security — cybersecurity. Anchor tenant at the newly opened Hakibbutz NYC hub in Chelsea.

Artemis — cybersecurity startup. 30 employees entirely in New York, many Israeli. Plans an Israeli development center at a later stage.

Hakibbutz NYC

In July 2026, Hakibbutz and Israeli Mapped in NY opened the first permanent physical home for Israeli startups in New York — located in Chelsea. The hub hosts investor gatherings, roundtable discussions, and corporate networking. Founder Amir Wolner: "We wanted to create a place that people and companies genuinely want to be part of."

The Startup Shift

Calcalist/Ctech reported in April 2026 that 42% of Israeli startups reported significant development delays due to the war. In 2024, Israeli tech companies hired approximately 5,000 development workers outside Israel. In the first half of 2025, the number of developers working inside Israel declined by approximately 6%. Companies distributing development teams between Israel and the US include Majestic Labs, Cylake (founded by former Palo Alto Networks CEO Nir Zuk), and Dimer Health.

PwC Israel partner Tamir Hay, who relocated to New York: "Homes in Tenafly are sold out. In one public school, 40% of the children in the class are Israeli." Development centers in Canada now cost 20% less than Israel. Central Europe and Portugal are cheaper still.

The Jacobs Technion-Cornell Institute on Roosevelt Island has produced nearly 130 startups since 2012, with 94% operating in New York City.

II. Real Estate

Israeli and Israeli-American developers do not occupy a niche in New York real estate. They built Billionaires' Row. (See also: Olam Index 2026: Real Estate and Olam Index 2026: Family Offices.)

Gary Barnett / Extell Development. Born Gershon Swiatycki on the Lower East Side. Built One57 (1,004 feet, completed 2013) and Central Park Tower (1,550 feet, $3 billion, completed 2020 — the tallest purely residential building in the world). Raised approximately $270 million from Tel Aviv Stock Exchange bondholders secured against 18 unsold Central Park Tower units valued at $557 million. Closed a $1.13 billion construction loan for 655 Madison Avenue — a proposed 74-story residential tower — the largest construction loan in NYC in 2025. An unnamed hedge fund committed $1.2 billion in preferred equity across nine Extell properties. Developing a 600-foot office tower at 570 Fifth Avenue with Ikea parent Ingka Investments (80,000-square-foot Ikea store at the base). Acquired 128 acres in Jerusalem for $200 million. Portfolio exceeds 20 million square feet.

Eyal Ofer / Global Holdings. Israeli billionaire, based in Monaco. Forbes net worth: $33.6 billion (March 2026). Owns 1250 Broadway, 99 Park Avenue, and other Manhattan commercial properties through Global Holdings. Started the family real estate business in New York in 1980. Father Sammy Ofer built a shipping empire with a reported $10.3 billion net worth at his death in 2011.

Idan Ofer / Quantum Pacific. Eyal's brother. Partnered to convert four Manhattan office buildings into at least 1,400 rental apartments — his first major New York real estate foray, reported in 2026.

Yitzhak Tshuva / El-Ad Group. Israeli billionaire. Forbes net worth: $8.3 billion (March 2026). Founder of the El-Ad Group (est. 1992). Owned the Plaza Hotel. El-Ad Properties ranked #6 most prolific condo developer in NYC history by sales volume (The Real Deal, 2016). Also majority shareholder of Delek Group, one of Israel's largest energy companies.

Miki Naftali / Naftali Group. Moved from Israel in the 1980s. Worked at El-Ad under Tshuva, where he led the Plaza Hotel acquisition ($675 million). Founded Naftali Group in 2011. Now developing 800 Fifth Avenue — a 26-story Robert A.M. Stern tower at a record per-square-foot land price. 35+ years of experience across residential, commercial, and rental developments in New York and Miami.

Additional Israeli-linked developers with significant New York footprints include Summit Development, Rabsky Group (major Brooklyn multifamily developer), and Lightstone Group (David Lichtenstein, Israeli-American, over 9,000 residential units).

III. Food, Hospitality & Consumer

Israeli food and hospitality has become embedded in New York's consumer landscape — not as ethnic cuisine but as mainstream brands.

Breads Bakery (Union Square, Lincoln Center) — founded by Israeli baker Uri Scheft. Named the best bakery in New York by multiple outlets. Chocolate babka became a citywide icon.

Miznon — Eyal Shani's pita restaurant chain, locations in Chelsea Market and the West Village.

Laser Wolf — Michael Solomonov's Israeli grill, Brooklyn. Solomonov also operates Zahav (Philadelphia), winner of the James Beard Award for Outstanding Restaurant.

SodaStream — acquired by PepsiCo for $3.2 billion in 2018. Founded in Israel. US operations headquartered in the New York metro area.

Strauss Group — one of Israel's largest food companies. US subsidiary headquartered in New York. Sabra Hummus (joint venture with PepsiCo, since fully acquired by Strauss) is the #1 hummus brand in the US.

The broader pattern: Israeli food culture — shakshuka, tahini, za'atar, labneh — has moved from specialty import to American pantry staple. The retail distribution infrastructure for these products runs through New York.

IV. Finance & Banking

Bank Leumi USA — the US subsidiary of Israel's oldest bank. Headquartered in New York. Serves Israeli and Israeli-American businesses across the US.

Bank Hapoalim — Israel's largest bank. Maintains a New York branch.

Israel Discount Bank — New York presence since 1952.

Israel Bonds and the $37 Billion Risk

New York City has invested in Israeli government bonds through its pension system for five decades. Comptroller Mark Levine has pledged to continue the practice. Mamdani opposes it.

In June 2026, ADL and JLens published an analysis of the potential impact of BDS-aligned investment restrictions on NYC pension funds. The study compared two hypothetical large-cap US equity portfolios over ten years: one broadly diversified, one excluding 47 major American companies targeted by BDS for doing business in Israel — including Alphabet, Amazon, and Microsoft. Result: the BDS-restricted portfolio underperformed by more than $37 billion over a decade. The affected pensioners are New York City teachers, police officers, sanitation workers, and retirees.

The TASE Connection

Gary Barnett's Extell raised $270 million from Tel Aviv Stock Exchange bondholders for Central Park Tower. Israeli institutional investors are a material source of construction and development capital for New York City projects.

V. The Capital Migration

The corporate exodus from New York is not Israeli-specific. It is structural.

Wells Fargo moved its wealth and investment management headquarters to West Palm Beach in January 2026 — the first major US bank to base that operation in Florida. 50,000 square feet at One Flagler. 100 senior employees relocating.

One Flagler — the Related Ross trophy tower — is now 100% leased, barely a year after opening. Tenants include Goldman Sachs, Elliott Management ($76 billion AUM, relocated from New York in 2020), Point72, OceanSound Partners, GTCR, and GoldenTree. Across downtown West Palm Beach, 360 Rosemary is also 100% leased — upper parking levels were converted to offices because demand exceeded supply.

Nearly 5,000 businesses left New York City in recent reporting periods. IRS migration data shows billions in taxable income migrating to Florida. Dallas Mayor Eric Johnson predicted an "avalanche" of finance firms leaving if Mamdani's tax proposals take hold.

The Tourism Freeze

International tourism to NYC declined by an estimated 17% in 2025 — a loss of approximately 2 million visitors and $4 billion in direct spending. International visitors account for 20% of visitation but 50% of visitor spending. The World Travel and Tourism Council: "Of 184 countries, the US is the only one seeing an absolute decline in international visitor spending."

VI. Where the Growth Is Going

5W Research published the Israeli Tech in Florida Report in April 2026. Key findings:

$7.3 billion in gross economic output from Israeli-founded companies in Florida.

0.46% of Florida's total gross state product contributed by Israeli-founded companies.

Five structural factors drive the concentration: zero state income tax, gateway access to Latin American markets, near-daily direct El Al flights Miami–Tel Aviv, established Israeli and Jewish community infrastructure, and the perception that Florida is a place where Israeli entrepreneurs feel "embraced."

Israel Tech Week 2026 was held in Miami — not New York. GoForIsrael held its first US edition in Miami. The Venture Tech Chronicle described South Florida as the "primary U.S. entry point for Israeli technology companies."

USIBA president Aaron Kaplowitz: "Israeli entrepreneurs are looking more and more at Florida as a viable option to grow their businesses in the US as it is also perceived as a pro-Jewish and pro-Israel state during challenging times."

Limitations

USIBA counts firms that self-identify as Israeli-founded and participate in ecosystem surveys. It does not capture second-generation Israeli-American businesses, dual-listed public companies with New York offices, or Israeli nationals operating under US-incorporated entities.

Israeli Mapped in NY tracks tech startups only — not real estate, food, finance, or professional services.

Private-company valuations change. Some companies maintain multiple headquarters. Employment figures evolve quarterly.

Real estate portfolio values fluctuate with market conditions. The Forbes net worth figures cited are point-in-time estimates.

This report treats the available data as a lower bound. The true Israeli business footprint in New York is materially larger than any single data source captures.

Methodology & Sources

USIBA 2025 New York–Israel Economic Impact Report (October 2025). Israeli Mapped in NY ecosystem data (July 2026). Hakibbutz NYC launch materials (July 2026). ADL/JLens, "The Impact of Israel Divestment on the New York City Pension Funds" (June 2026). 5W Research, Israeli Tech in Florida Report (April 2026). Wells Fargo corporate announcements (January 2026). Calcalist/Ctech (April 2026). The Real Deal, Bisnow, Commercial Observer — real estate reporting 2025–2026. Cornell University Student Assembly Resolution 61 (2025–2026). Times of Israel, Jewish Insider, Algemeiner, JNS, Washington Free Beacon, Forward — reporting January–July 2026. Forbes billionaire data (March 2026). Partnership for New York City corporate departure data. NYC Tourism + Conventions tourism projections. World Travel and Tourism Council international spending data.

Ronn Torossian is the founder and chairman of 5W AI Communications, the AI Communications Firm. He is the publisher of Everything-PR and the author of two best-selling editions of For Immediate Release.