City's Award-Winning Economic Development Initiative Establishes High-Tech Districts in Neighborhoods All Over the City

Mayor Rudolph W. Giuliani today announced that the Digital NYC: Wired to the WorldSM program, created in April 2000 to attract high-tech companies to seven designated districts throughout the City, has leased more than 100,000 square feet of newly-wired, internet-ready space to 30 companies.

Additional companies are currently negotiating for space in the program's Harlem, Long Island City, DUMBO, Brooklyn Navy Yard, Sunset Park, Red Hook, and Staten Island districts. All seven districts are now home to high-tech companies, and an eighth district, BronxSmart in the South Bronx, opened for business on April 1, 2001 with 30,000 square feet of newly-wired and renovated space.

On May 9, 2001, the BronxSmart district will hold its official district launch event and open house. The event will showcase the Venture Center, located at 270 137th Street, where start-ups and small businesses can access a full menu of business services for $300 to $1,100 per month; and the newly renovated Piano Factory, located at 26 Bruckner Boulevard, where growing companies can enjoy riverfront views of the city's skyline.

"Since its inception, the program has been a win-win situation for landlords, tenants, and the City," said Mayor Giuliani. "The districts feature affordable rents, fiber connections by various providers, excellent transportation, and valuable City tax and financial incentives. The combined value of the City benefits can be as much as $15 per square foot."

Digital NYC: Wired to the WorldSM districts are promoted by not-for-profit entities, building owners and technology service providers, in partnership with The New York Software Industry Association and the New York City Economic Development Corporation (EDC), which administers the program.

"Through Digital NYC: Wired to the WorldSM we can accommodate all of the high-tech and new media companies that would like to relocate or expand in New York City," said Deputy Mayor of Economic Development and Finance Robert M. Harding. "Companies can take advantage of our new Commercial Expansion Plan, which offers incentives including relocation grants, rent abatements, and low-cost energy programs. We have created an impressive real estate and benefit package to attract high-tech companies from across town and across the globe."

EDC's Digital NYC: Wired to the WorldSM program recently won the International Development Research Council (IDRC) Foundation's Annual Global Innovator's Award in Strategic Corporate Real Estate and Infrastructure. IDRC is the world's leading association of corporate real estate executives, and their award acknowledges the year's best economic development initiatives.

"Digital NYC: Wired to the WorldSM is a prime example of our efforts to take a pro-active approach to business development," said EDC President Michael G. Carey. "This program allows cost-conscious companies to invest their money in growth rather than spending it on real estate. I'm proud to include it among our many successful economic development initiatives that are being studied and emulated by cities all over the nation and the world."

For detailed information on the Digital NYC: Wired to the WorldSM program, visit EDC's website at www.nyc.gov/html/edc/home.html.

EDC is the City's primary vehicle for economic development services. Using its real estate and financing resources, EDC helps develop businesses and create jobs throughout the five boroughs.