Economy of New York City supported by its entrepreneurship ecosystem and venture capital investments. In the first half of 2014, Silicon Alley generated over US$2.1 billion in venture capital investment across a broad spectrum of high technology industries, most based in Manhattan, or alternatively, Brooklyn. High technology startup companies and employment are growing in New York City and the region, bolstered by the city's position in North America as the leading Internet hub and telecommunications center, including its vicinity to several transatlantic fiber optic trunk lines, New York's intellectual capital, and its extensive outdoor wireless connectivity. According to New York’s Economic Development Corporation, telecom carriers,
Silicon Slopes have started 167 companies and raised nearly $750,000. The program continues to be strengthened, and at the start of the fall semester in August 2016, Lassonde Studios, an institute that combines 400 residences with a 20,000-square-foot garage (used for building prototypes and holding events and conferences) will be opened to create a hub for innovators, makers, and entrepreneurs of all disciplines to connect. A key contributor to Silicon Slopes' successful tech industry is the well-planned Internet infrastructure. Salt Lake City is in a fortunate geographic location because it sits along the major east-west Internet corridor where ten major service providers