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January 25, 2011
Latest City Incubator Opens in Flatiron Area
The Wall Street Journal
by Joseph De Avila
Atlantic Yards gets a mention as the yardstick for wasteful public spending.
The eighth entrepreneurial program sponsored by New York City opened Monday, aimed at providing technology and design classes to aid new businesses.
The Bloomberg administration plans to launch another so-called incubator in the Bronx this spring. To date, the city has invested $3 million in the programs, with about 500 people working out of its incubators.
Compared with the amount of money the city invests in corporate tax incentives and big real-estate projects like Atlantic Yards, incubators are "still a drop in the bucket," said Jonathan Bowles, director of the Center of for an Urban Future, a nonpartisan research group. Still, he said, "I think it's a huge shift in local economic development policy, and it's long overdue."
Posted by eric at January 25, 2011 10:19 AM