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Downtown Manhattan sees surge in tech related industries

Downtown Manhattan's tech scene is bigger than ever and community leaders say the best is yet to come.

The Downtown Alliance released an update Thursday about its LaunchLM initiative, which aims to promote and attract tech start ups, media companies and other related businesses into the area. The alliance said technology, advertising, media and information (or TAMI) businesses have added billions into the city's economy over the past few years and their presence south of Chambers Street is on pace to overtake the financial sector. Some of the reports highlights include:

800 TAMI-related businesses are now in the downtown area.

The companies range from younger startups like SumAll to giants such as Condé Nast, which is moving into the World Trade Center next month.

Between 2011 and 2014, those companies leased 14.9 million square feet of space in lower Manhattan, compared with 8.9 million between 2007 and 2010.

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