by Shane Henson — March 1, 2013—The New York City Economic Development Corporation (NYCEDC) recently announced the 20 finalists of its “Take the H.E.L.M.: Hire + Expand in Lower Manhattan,” a competition that encourages creative and innovative businesses to open or expand an existing office in Lower Manhattan.
The competition was designed to encourage growth and diversification of Lower Manhattan’s economy, says NYCEDC, which serves as the city’s primary vehicle for promoting economic growth in each of its five boroughs. Selected from a group of more than 300 applicants, the 20 finalists will each receive a $10,000 cash grant, and up to five winners will ultimately win $250,000.
“Take the H.E.L.M. is helping to highlight that Lower Manhattan is one of New York City’s most dynamic neighborhoods, playing a central role, not just in finance, but many new and exciting industries,” said NYCEDC President Seth W. Pinsky. “The 20 innovative finalists in this competition will now have the opportunity to establish themselves or expand within this already vibrant and diverse community, spurring further critical economic growth for Lower Manhattan and the entire city.”
The 20 finalists are broken into five separate tracks: creative companies, technology companies, startups less than three years old, companies new to New York, and companies currently in Lower Manhattan looking to expand in the area. One winner will be chosen from each track by the selection committee, leading to the final awards of $250,000 upon relocating to Lower Manhattan, says NYCEDC.
