Many Firms Leaving Downtown NY For Midtown

The majority of displaced firms in lower Manhattan are moving to midtown NY. But will they return?

1 minute read

October 22, 2001, 12:00 PM PDT

"Statistics show the majority of displaced firms are moving to midtown, cutting longstanding ties with lower Manhattan and taking thousands of jobs from downtown... The exodus comes after a period of high hopes for the area. Downtown had rebounded from its deep slump in the early '90s, when commercial tenants fled to midtown. But gradually, thanks to the city's booming economy, an incentive program and the transformation of many commercial buildings into residential, the area came back."

Thanks to Tom Collins

FULL STORY: Downtown Firms Flock to Midtown

Wednesday, October 17, 2001 in Yahoo! Newswire

Community / Economic Development New York

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