NYC & Israel Launch Economic Council to Bolster Innovation and Strengthen Strategic Ties

By: Fern Sidman

In a bold initiative underscoring the deepening economic and diplomatic relationship between the United States and Israel, New York City Mayor Eric Adams and Israeli Economy and Industry Minister Nir Barkat announced on Monday the formation of the New York City–Israel Economic Council. As reported by The Jewish News Syndicate (JNS), this joint body aims to facilitate cross-border investment, catalyze innovation, and serve as a gateway for Israeli businesses seeking to expand into the American market—starting with the economic powerhouse of New York City.

The nonbinding declaration of intent, signed Monday, signals a significant step in institutionalizing economic cooperation between the two governments. While not a legally binding treaty, the agreement lays a robust foundation for tangible bilateral engagement in areas ranging from environmental technology to life sciences, artificial intelligence, fintech, defense technology, and agro-food innovation.

Mayor Adams, who is currently navigating a competitive re-election landscape, positioned the announcement as both an economic imperative and a reaffirmation of New York City’s historic support for the State of Israel. “Today’s announcement of a declaration of intent reflects a proud tradition of New York City mayors collaborating with Israel,” Adams said, as quoted by JNS. “It will drive innovation, create jobs, and strengthen the unbreakable bond between our two governments.”

The council’s creation spotlights New York’s enduring role as a global innovation hub and mirrors Israel’s stature as a start-up nation with a thriving entrepreneurial ecosystem. “This initiative opens new opportunities for Israeli companies to engage with the dynamic New York market, while contributing meaningful value to the city’s diverse economy,” Barkat added in remarks also cited by JNS.

For both partners, the launch of the New York City–Israel Economic Council is about far more than trade. As noted by Minister Barkat, “It is a tremendous honor to establish this joint council with one of the world’s greatest cities—New York City. A global hub of innovation, creativity, and economic leadership, New York represents a powerful partner for Israel’s thriving business ecosystem.”

According to the JNS report, Barkat emphasized that the council will boost Israeli exports, support the integration of Israeli technologies into key New York industries, and provide startups with the resources and connections they need to thrive. The council will focus on sectors with high-growth potential and mutual strategic interest, including artificial intelligence, cybersecurity, clean energy, biotech, food technology, and public safety.

The move is expected to generate real-world economic outcomes. Israeli startups will now have an institutional platform to gain traction in the highly competitive U.S. market, while New York stands to benefit from the technological ingenuity and bold entrepreneurship that defines Israel’s innovation sector.

While the council’s practical impact is anticipated to be substantial, its symbolic weight is equally important. Moshe Davis, recently appointed as executive director of Mayor Adams’ Office to Combat Jew-Hatred, praised the initiative as both an economic partnership and a moral statement. “This council represents both strategic partnership and moral clarity,” Davis told JNS. “As antisemitism rises globally, New York City is responding with substantive collaboration in key sectors like environmental innovation and artificial intelligence.”

Davis’s remarks highlight how the Economic Council transcends commercial ambition. It reinforces New York’s unflinching support for Israel at a time when Jewish communities around the world face increasing hostility and discrimination. “This council will not only drive opportunity and growth,” Davis said, “it will demonstrate that the world’s greatest city stands firmly with Israel and the Jewish people.”

As the report at JNS reminded readers, the partnership between New York City and the State of Israel is long-standing. Previous mayors—from Ed Koch to Rudy Giuliani to Michael Bloomberg—have maintained close ties with Israeli leadership, consistently integrating the city’s Jewish and Israeli-American communities into broader policy and development agendas.

This new council elevates that cooperation to a more structured and results-driven level. While the declaration remains nonbinding for now, it lays the groundwork for future agreements, grants, and joint ventures that could significantly impact both Israeli entrepreneurs and New York’s business landscape.

As globalization and technological advancement reshape the contours of economic development, cities and nations alike are reevaluating their strategic alliances. The New York City–Israel Economic Council is a timely response to that shift. As the JNS report noted, it reflects “a strong vote of confidence in the vitality of Israeli innovation and in New York’s position as a gateway to global markets.”

The launch of the council sends a message that innovation and resilience go hand in hand—and that New York, with its robust economy and unmatched diversity, is prepared to lead on both fronts in concert with one of the world’s most technologically advanced democracies.

In an era of rising antisemitism and political uncertainty, the formation of this economic alliance is also a reminder that economic strategy can serve as moral clarity. As the JNS report emphasized, this initiative isn’t just about technology transfers or market access. It’s about shared values, mutual growth, and standing with allies who have never wavered.

As Israeli firms prepare to plant deeper roots in the five boroughs and as New York City companies look toward Tel Aviv and Haifa for innovation partnerships, the Economic Council may soon evolve from a declaration of intent into one of the most consequential engines of international collaboration in the post-pandemic era.