Contest seeks to lure firms to Lower Manhattan - New York News | NYC Breaking News

Contest seeks to lure firms to Lower Manhattan

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1 World Trade Center in Sept, 2012. (Photo by Luke Funk) 1 World Trade Center in Sept, 2012. (Photo by Luke Funk)
NEW YORK (AP) -

New York City is offering cash prizes to lure companies in fields such as media and technology to the financial district.

The Wall Street Journal report that Mayor Michael Bloomberg's administration will hold a contest with prizes up to $250,000 to encourage firms to move to downtown Manhattan and stay there.

The goal is to fill buildings including the rebuilt World Trade Center and the neighboring World Financial Center with diverse tenants.

City officials hope to broaden the mix of companies in the area beyond the financial services firms that have historically been based there.

Companies that enter the contest will have to show they can bring "the best and the brightest" to the neighborhood.

The competition includes $10,000 grants for as many as 20 finalists.

 

Information from: The Wall Street Journal, http://www.wsj.com

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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