Contact:Sunny Mindel/Curt Ritter 212-788-2958
Bernadette O'Leary 212-312-3523 (EDC)
Mayor Rudolph W. Giuliani today announced that the New York City Economic Development Corporation (EDC) assisted a variety of companies in opening or expanding offices in New York City in the past four months, including corporate information provider Hoover's Inc., online shopping service DealTime and Internet advertising and marketing company TeknoSurf.
"These new and expanding companies are great testimony to the advantages of doing business in New York City," said Mayor Giuliani. "With clients around the world and services ranging from community-specific web guides to Internet advertising to public relations, the companies EDC has assisted will benefit from the City's diverse marketplace."
Based in Austin, Texas, Hoover's, Inc. provides online business information on over 14,000 companies, offering visitors to its Website free corporate snapshots and financial profiles. More detailed company information is provided to subscribers. Hoover's will celebrate the opening of its 3,500-square-foot office at 4 West 58th Street this month. The office will serve as the company's headquarters for product and business development and advertising sales. Hoover's plans to employ approximately 20 people in New York City by the end of the year.
"On behalf of the Giuliani Administration, EDC's efforts to attract companies to New York City in the past several months has generated more than 470 new jobs and approximately $2.6 million in annual taxes for the City," said Randy Levine, Deputy Mayor for Economic Development, Planning and Administration.
DealTime, a free online comparison shopping service that searches the Internet for the products consumers want at the prices they are willing to pay, is relocating its headquarters from Stamford, Connecticut. Launched in June 1999, the DealTime Web site offers users the ability to track their product selections over time and to be notified by e-mail, pager and the DealTime Notifier when new deals become available. The company has signed a lease for a 16,000-square-foot office at 475 Fifth Avenue, and plans to employ up to 100 people within a year.
"By establishing their business development operations and headquarters here, Hoover's and DealTime will access New York City's highly skilled talent pool and expansive client base," said EDC President Michael Carey. "Significantly, the City's high-tech industry will benefit from the addition of these companies."
Baltimore, Maryland-based TeknoSurf provides Internet direct marketing and advertising services for clients such as Lycos, Microsoft and Disney. TeknoSurf has signed a lease for a 1,500-square-foot branch office at 223 Lafayette Street. With plans to expand into a larger space in less than a year, TeknoSurf expects to employ at least 15 people in its New York City office.
Other companies EDC assisted in expanding or opening new offices in New York City during the past four months include: start-up community-specific Website designer Virtual Communities; start-up streaming media broadcaster McKenzie Technology; start-up public relations firm Berk Communications; Canada-based software creator DWL Interactive; start-up Internet company liaison Domain Asia Inc.; Massachusetts-based metro-area guide publisher Next Jump, Inc.; start-up online community MagicBeanStalk, Inc.; San Francisco-based high-tech public relations firm Neihaus Ryan Wong, Inc.; Los Angeles-based production equipment rental company Plus 8 Video; start-up new media-related staffing firm Redmerchant.com; New Jersey-based hardware and software infrastructure provider Digital Mafia Entertainment; Canada-based document shredder Eco-Shred Ltd., and start-up consignment reseller/donor Consolidated Consignment Company.
EDC helps companies from around the world to establish a presence in New York City by providing a number of services, including exploring available office sites, obtaining financing, finding or relocating employees, and helping new companies network within their industry. EDC also helps companies gain access to available City services and programs, such as reduced-tax zones and pre-wired, high-tech office space programs.
EDC is the City's primary vehicle for economic development services. Using its real estate and financial resources, EDC helps develop businesses and create jobs throughout the five boroughs.