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NEW YORK CITY-It’s not something that many would have been thought possible in the circa-2000 aftermath of the dot-com bubble, but Silicon Alley is now second only to Silicon Valley, albeit a distant second. A report from the Center for an Urban Future, funded by AT&T New York and the Association for a Better New York, finds that notwithstanding several hurdles that remain, the city’s tech sector has surpassed that of the longtime first runner-up, Boston. The fact that it’s now home to leading tech firms such as Google—which paid $1.8 billion in 2010 to buy the hulking 111 Eighth Ave., where it was already a major office tenant—is only part of the story.

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