Report: Israeli businesses added $18.6 billion in revenue to NY economy in 2018

According to a report by the independent New York-Israel Business Alliance, Israeli-founded companies operating in New York City contributed $18.6 billion in revenue in 2018, and a whopping $33.8 billion — 2% of the New York gross domestic product — when accounting for spending on local goods and services.

Data on the 506 Israeli companies was published recently in step with the arrival in Israel of New York Governor Andrew Cuomo.

According to the report, there are five Israeli “unicorn companies” — valued at $1 billion or more — in New York today: WeWork, Taboola, Payoneer, Lemonade and Compass.

In total, the companies directly employ 24,850 New York residents and indirectly employ another 27,502.

“Part of the key to understanding Israel’s success abroad is to understand the people and the land,” said New York-Israel Business Alliance founder and president Aaron Kaplowitz, according to the “The Jerusalem Post.”

“The Israeli population is highly educated and comprised primarily of first or second generation immigrants — natural risk-takers — who acquire leadership and technical skills during their military service,” Kaplowitz said.

“The land is limited on resources and located in a tough neighborhood with minimal cross-border trade opportunities. When you combine the people and the land, Israel becomes one big incubator that exports cutting-edge technology beyond its immediate borders. And in the words of Governor Cuomo, New York is open for business.”

Data showed that Israeli companies in New York secured over 20% of all capital raised in the state in 2016, and enjoyed double the job and revenue growth of the rest of the state from 2016 to 2018.


Retailers selling “Mein Kampf” with neo-Nazi blurb

Walmart, Amazon and Barnes & Noble are among retailers selling an edition of Adolf Hitler’s Mein Kampf featuring a neo-Nazi blurb and a price tag with numbers that reference white power.

“This book has set a path toward a much higher understanding of the self and of our magnificent destiny as living beings part of this Race on our planet,” stated the blurb on the Barnes & Noble website, which has apparently removed the listing. “It shows us that we must not look at nature in terms of good or bad, but in an unfiltered manner. It describes what we must do if we want to survive as a people and as a Race.”

This English translation by James Murphy is priced at $14.88.

The number “1488” is a cypher for neo-Nazis and white supremacists, with “14” standing for the “14 words” saying, “We must secure the existence of our people and a future for white children,” while “88” refers to “Heil Hitler,” as “H” is the eighth letter of the alphabet.

Like Barnes & Noble, Walmart and Amazon also removed the edition from their



Number of businesses in West Bank doubled in past decade

No fewer than 1,982 small- and medium-sized businesses operate in the West Bank, a 100% increase over the past decade. Relative to population size, the average rate of entrepreneurship in the West Bank in 2018 was 20% higher than in Tel Aviv.

The data — from the Israel’s Central Bureau of Statics and the MATI Jerusalem Business Development Center — was presented at an entrepreneurial conference in Samaria, the first such conference of its kind.

In a sign of the region’s growing tourism industry, the most prominent commercial field in the West Bank is the service industry, in particular food and hospitality services, followed by industry and health services and skin care.

Conference attendees welcomed the Tourism Ministry’s recent decision to incentivize entrepreneurs to build hotels in the West Bank and the Jordan Valley, in the form of grants to entrepreneurs of 20% of the total investment.

According to Samaria Regional Council head Yossi Dagan, “Entrepreneurship is in Samaria’s DNA. The reason for this is, on the one hand, the distance from the cities, and the other hand, an active population that came here to settle and to build and therefore is no stranger to entrepreneurship.” — Israel Hayom JN

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