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GlobeSt.com UPDATE: Firm Takes Advantage of Lower Manhattan Incentives

NEW YORK CITY-Incentives just signed into law tempt one Midtown firm to make the move to Lower Manhattan. The expects to triple its employee base over the next two years.

By Barbara Jarvie | Updated on September 04, 2005

NEW YORK CITY-A series of incentives just signed into law to attract new business and encourage existing businesses to Lower Manhattan have prompted at least one firm to move its base of operations from Midtown. Integrated technology communications firm the Horn Group inked a deal for more than 10,000 sf at 55 Broad St. The firm intends for triple its number of employees over the next few years.

The Alliance for Downtown New York has launched a technical assistance program for those businesses requiring additional information about the incentives. The Downtown Alliance has also partnered with the Real Estate Board of New York and the Association for a Better New York to produce and distribute a guide that outlines the various incentive programs including the commercial rent tax abatements, sales tax exemptions, World Trade Center and 7 World Trade Incentives, and an expansion of the Lower Manhattan Relocation Employment Assistance Program.

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