Willets Point to help hatch startups with business incubator
An 18,000-square-foot business incubator is coming to the $3 billion redevelopment of Willets Point, Queens, spearheaded by the Related Companies and Sterling Equities.
The Queens Chamber of Commerce will operate the incubator, which will be split between two different sections of the megaproject. Companies housed within the incubator will receive an up to 40 percent discount on rent as well as training and other support services.
“You’re giving businesses a chance to learn the ropes while they’re actually conducting business,” Jack Friedman, the Chamber’s executive director, told the New York Daily News.
The incubator was one of the concessions the developers gave to win approval for the project, according to the newspaper. Related and Sterling will together put $165,000 toward the incubator’s costs, and said in a statement to the News that the incubator would “work to recruit local merchants to set up shop in the new Willets Point.” [NYDN] – Hiten Samtani