RealTime IT News

Report: DoubleClick, theglobe.com to Stay in New York

Ad network DoubleClick Inc. and community site operation theglobe.com both expect to sign new leases to remain in New York City in coming weeks, according to published reports.

New York officials are said to be setting up incentive packages to keep the Internet companies from moving to New Jersey, according to a report in The New York Post that quoted anonymous sources.

New York state and city officials have been working to keep theglobe.com, which lets people set up free Web pages and hasn't had a profit, from leaving New York, according to Todd Krizelman, co-president and co-chief executive of theglobe.com. DoubleClick plans to expand to 500 employees from about 300, the paper said.

The city has been active recently in its efforts to retain businesses, and recently signed a $560 million deal with the New York Stock Exchange, said to be the largest subsidy in New York history.

New York City and state will spend about $400 million on a new trading complex across the street from the exchange's current headquarters at 11 Wall St., according to a plan presented by city, state and NYSE officials. In addition, the exchange reportedly will receive $160 million in tax waivers.