Droga5 Relocates To Lower Manhattan With Plans To Create Up To 154 Jobs
Area Development Online News Desk (07/26/2013)
A creative and strategic agency, Droga5, will relocate to New York City’s Lower Manhattan, where it plans to expand operations and create up to 154 jobs by the end of 2017. The firm signed a 15-year lease to occupy five floors totaling 92,000 square feet at 120 Wall Street.
“In just seven years, Droga5 has grown from a scrappy agency of five based out of a borrowed space on Broadway to a global network of nearly 325 doing game-changing work for blue chip clients,” said Andrew Essex, Vice Chairman of Droga5. “The time has come for our real estate to match the scale of our ambitions, and 120 Wall Street and the surrounding community of industry leaders in technology and media offer exactly that. We thank all of the partners involved, including Governor Cuomo, Mayor Bloomberg and their teams at ESD and NYCEDC, for supporting our growth and expansion Downtown.”
“This is another example of how the country’s leading tech, media and advertising companies are choosing New York State as the place to bring and expand their business,” Gov. Andrew Cuomo said. “I am pleased to welcome Droga5 to Lower Manhattan, which is resilient and revitalizing after the economic downturn and extreme weather events of the past. New York has proven itself to be a magnet for creative firms and minds, and this fast-growing company is a testament to the reality that the state is a haven for private sector growth.”
“This lease is another vote of confidence in the future of New York City and the resiliency of Lower Manhattan,” said Mayor Michael R. Bloomberg. “Our economy has recovered well from the recession and our city has made it through events like Hurricane Sandy thanks to creative and innovative New Yorkers, like those who work at Droga5.”
In order to encourage the relocation, the State and City partnered with Droga5 by making a strategic investment tied to job creation that will allow the company to further expand as well as help with the ongoing diversification of Lower Manhattan. Empire State Development and the New York City Economic Development Corporation jointly offered the company World Trade Center Job Creation & Retention Program funds to help facilitate the creation of 154 new jobs.
“Lower Manhattan’s ties to a region wide transportation network, its array of attractive office space options and a growing community of innovators in media and technology have made us a destination for creative firms and minds,” said Elizabeth Berger, President of the Downtown Alliance. “The country’s leading tech, media and advertising companies are deciding that Downtown is the place to do business, and the economies of New York City and State are the beneficiaries of the district’s magnetic vitality and dynamism.”