New York City Mayor Eric Adams and Economy and Industry Minister Nir Barkat signed a nonbinding declaration of intent Monday to establish the New York City–Israel Economic Council, aimed at boosting business, economic and technological collaboration between the city and the State of Israel.
The council, which will include representatives from the New York City Mayor’s Office and Israel’s Economic Mission to the United States, will help Israeli companies expand into the New York market, promote partnerships with local businesses, and support joint efforts in areas such as environmental innovation, life sciences, artificial intelligence and business and tech conferences.
"Today, our administration is proud to launch the New York City–Israel Economic Council to deepen economic ties between our governments and serve as a gateway to the U.S. market for Israeli businesses — forging partnerships with New York City companies; advancing innovation in areas like environmental tech, life sciences, and AI; and helping Israeli startups establish a home in the five boroughs,” Adams said at the signing ceremony at the Jerusalem Post confenrece. “Today’s announcement of a Declaration of Intent reflects a proud tradition of New York City mayors collaborating with Israel, and will drive innovation, create jobs, and strengthen the unbreakable bond between our two governments."
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While the agreement is not legally binding, it formalizes longstanding cooperation and affirms mutual commitment to deepening ties. The council will also focus on economic development, emergency management, education and technology, and is expected to meet regularly under shared guidelines.
The announcement comes amid heightened tensions and public debate in New York following the Israel-Hamas war that began with the October 7 terrorist attack, as well as growing concerns over antisemitism in public spaces and on university campuses.
Moshe Davis, head of the Mayor’s Office to Combat Antisemitism, said the new council “represents both strategic partnership and moral clarity,” noting it demonstrates New York’s support for Israel and the Jewish people. “As antisemitism rises globally, New York City is responding with substantive collaboration in key sectors like environmental innovation and artificial intelligence. This council will not only drive opportunity and growth, it will demonstrate that the world's greatest city stands firmly with Israel and the Jewish people,” he said.
The initiative was welcomed by members of the Israeli business community in New York, though some noted that its success would depend on concrete action. The city currently hosts around 30 Israeli-founded unicorn companies, up sharply from just five in 2019.