Williamsburg emerges as NYC's Silicon Valley

Start-ups that had previously looked to be based in Manhattan are now flocking to Brooklyn, with Williamsburg emerging as the city's new Silicon Valley.

The Yard, a retro-fitted warehouse that opened in Williamsburg last month, serves as an incubator for many start-ups. It offers suites starting at $395 per month, as well as co-working options, and it's already nearly filled to capacity.

And it's not just tech start-ups that are calling Brooklyn home. Alex Ridings runs Plan Tea, a tea company that he started a year ago. Ridings says Brooklyn is ripe with small businesses like his own that have big dreams.

"Brooklyn is a great place for start-ups," he says. "You walk in the door, and there's that Brooklyn vibe."

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