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.

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