New York City's Silicon Alley will see growth in the next few years with tech companies set to relocate or expand to the city's downtown financial district. Five companies will be part of this migration to the "Big Apple", given an extra boost by funds awarded from the Bloomber administration last September.
The administration started a contest to lure New York City's tech, media, and design firms to lower Manhattan by granting them prizes of up to $250,000 to relocate out of the usual hubs, such as Silicon Alley. The five winning companies are Paperless Post, the Flatiron School,STELLAService,Booker, and Grapeshot. Each company will receive the $250,000 to relocate to downtown manhattan, bringing to much need life to the sleepy financial District.