Israeli firms boost NY’s economy by $13.3B last year alone

Israeli firms boosted New York’s economy by a whopping $13.3 billion and helped fuel nearly 58,000 jobs last year, a new study shows — but the gains could drop if Zohran Mamdani becomes mayor, a CEO warned Monday.

About 90% of the billions of dollars and massive job haul from 648 Israeli-founded businesses was focused in the five boroughs, according to findings by the United States-Israel Business Alliance.

The CEO of an Israeli biotech company told The Post his business could be another to flourish for the Big Apple — but that a Mamdani administration would make him think twice about landing in the city because of the leading Democratic nominee’s staunch criticism of the Jewish state.

“I need to see if his words have any meaningful impact on the ground,” said the company exec, who did not want to be identified, as the city prepares to elect its next mayor Nov. 4.

“If someone on our team is moving to New York, I want them to be in a pleasant area where they don’t feel fearful, or, from a business perspective, deal with people that are shying away because the company’s Israeli,” the CEO said.

The nearly 650 Israeli-founded firms already doing business in the Empire State have directly created 28,524 jobs and a total of 57,145 jobs when accounting for related factors, the New York-Israel Economic Impact Report states.

Out of the total number of jobs, about 88% were concentrated in the city.

About $13.3 billion in total value was added to the state economy through the firms, with $12.4 billion just in the city alone, the study found.

“When Israeli tech entrepreneurs think about entering the US market or positioning their companies for global growth, New York City is at the top of the list,” US-Israeli Business Alliance President Aaron Kaplowitz said in a statement.

“Ultimately, this cosmopolitan appeal translates into more local jobs and more money flowing through the city’s economy.”

But the biotech CEO said that appeal might not be enough to keep firms or attract new ones, depending who is the next mayor.  

He said he is weighing taking his firm to either New York and Boston — and stressed that Mamdani’s performances in the debates and other remarks he has made have not been reassuring. The war in Gaza has been a focal point for mayoral candidates this year.  

The CEO specifically cited Mamdani refusing to say Israel should exist as a Jewish state and his reported soft stance on Hamas.

“[Mamdani’s] words might not affect policy, but if the head of the city keeps repeating anti-Israel rhetoric, it can definitely have an effect,” the biz exec said.

“And that’s something we’ll need to take into account.” 

The company head said he and other Jews don’t understand why Mamdani has taken such a hard stance on Israel when the city has such a high Jewish population.

“And if it causes Israeli companies to leave New York, obviously it will have a major impact on the economy,” the CEO argued.

“I have Israeli friends who moved to New York with the Israeli companies that they are working for, and they’ve been there for years, and they’ve described to me after Oct. 7 how difficult it’s been to live in the city.”

While Mamdani has faced criticism over statements about Israel, the mayoral front-runner going up against former Gov. Andrew Cuomo and GOP candidate Curtis Sliwa has vowed to protect Jewish New Yorkers against a rise in antisemitism.