I can understand how the mayor feels because software coding is just like finance, it does nothing to contribute to the economy other than offer a service. We need a manufacturing economy to bring jobs back.
Presumably manufacturing stuff that has no processors in it, otherwise, you'd have to write software for those processors, thus reducing the contribution to the economy of that manufacturing.
(And what about the engineering work done designing the stuff being made? Does that also do nothing to contribute to the economy other than offer a service?)
And the number of jobs offered by a manufacturing economy depends on the volume of production and the productivity of the labor - the higher the productivity, the fewer jobs offered per unit produced. Enough robots and you don't get as many jobs back as you might want.
And those manufacturing companies may even need finance to grow, although it might not involve some exotic financial derivatives and an huge pile of servers doing high-frequency trading to get the finance.
Yes, it's reasonable to ask to what extent the software or finance industries are contributing to the economy, and whether we'd be better off with smaller versions of either of them, but that's different from casually dismissing those industries.
Service economies are third world.
So an economy with 75% of its citizens working in service industries and with 70% of its GDP coming from service industries is a third-world economy?