Digital NYC offers hudreds of thousands of Internet ready office space in eight specially designated districts throughout the city to companies. This space at reduced prices and when combined with other financial incentives is aimed at attracting industry to New York and to maintain its position as a top city for technology. This is one of the city's most successful programs to accomodate high-tech and new media companies looking to relocate or expand here.

"This program expands upon successful initiatives such as the Lower manhattan Revitalization Plan and the Plug 'n Go Program, which helped to revitalize Downtown Manhattan and helped create the high-tech industry in New York City," said Mayor Giuliani publicly following the acceptance of the award. "Digital NYC is establishing special high-tech districts in neighborhoods all over the city and bringing jobs and opportunity to once neglected areas, and I'm pleased that its value has been recognized by this prestigious international organization."

The mayor's office and the EDC both point out that in the last few years, the city's high-tech industry has grown to more than 4,000 companies. These companies employ approximately 140,000 people and generate more than $9 billion in annual revenue.