New York, NY —
The city's recent efforts to help start up businesses get off the ground has been in such demand, officials are expanding the program. Mayor Bloomberg says the city will spend an additional $800,000 to open four more so-called "incubators," where entrepreneurs can rent office space at subsidized rates. Speaking at the only incubator now open, in West SoHo, Bloomberg says it's currently hosting 27 start-ups, and will be at its capacity of 40 by the end of the year.
BLOOMBERG: The greatest scenario would be that every one of these guys builds the next Microsoft and they need tens of thousands of feet of space.
Bloomberg says the city will announce locations for the other incubator spaces in the next few months.