Come January 1st, New York City will have its first Democratic mayor since 1993. Bill de Blasio won a landslide victory today over Republican candidate Joseph Lhota, and he will replace billionaire Michael Bloomberg at the end of the year, ending the current mayor's 12-year term. The New York Times reports that Lhota has officialy conceded, saying "I wish the outcome had been different." While only 35 percent of precincts had reported as of this writing, de Blasio held a 72.7 percent lead over his opponent.

Bloomberg has been in the spotlight as mayor, leading the city as it continues its upward trajectory with a growing population and low crime rates. He's also been a champion of the tech sector with policies designed to help cultivate a "silicon alley" in New York. In contrast, de Blasio's run a campaign against many of Bloomberg's policies and he's focused on appealing to struggling New Yorkers in the outer boroughs who feel that the current administration has placed too much emphasis on programs that cater to the wealthy. De Blasio's key proposals include all-day Kindergarten for all children, 200,000 new affordable housing units, and an end to the NYPD's controversial stop-and-frisk practices.

But de Blasio will likely continue to support the growth of the tech industry in New York. He's proposed new scholarship programs for students from low-income families, and another plan could see student loans forgiven for students in tech and design fields who agree to work for the city for five years. Another plan would see a $150 million go to science and tech scholarships at the City University of New York's colleges, and de Blasio has proposed $100 million of seed money to invest in tech startups. He's also called out Verizon for its limited rollout of FiOS across the city, despite its promises. All of the plans will take some effort to become a reality, but now that the race is over, the mayor-elect has a couple of months to prepare before he joins the fray.