Spotlight on Success: Droga5
ESD incentives help fast growing, innovative advertising firm to expand and create 154 jobs
In July, Governor Andrew M. Cuomo and New York City Mayor Michael Bloomberg announced that the global creative and strategic agency Droga5 will relocate to Lower Manhattan, where it will expand operations and create up to 154 new jobs by the end of 2017. The world class, award winning ad firm is one of the fastest growing businesses in New York City and joins the more than 390 companies that have relocated to Lower Manhattan since 2005, further demonstrating the resiliency and ongoing diversification of Lower Manhattan’s economy.
“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,” Governor 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.”
Founded in New York in 2006, Droga5 boasts internationally know clients like The Coca-Cola Company, American Express, Motorola, Mondelez International, Prudential, Spotify and UNICEF. The firm signed a 15-year lease at 120 Wall Street to occupy five floors totaling 92,000 square feet, relocating from its current NoHo location. In order to encourage the move, Empire State Development (ESD) and the New York City Economic Development Corporation (NYCEDC) jointly offered the company World Trade Center Job Creation & Retention Program funds (JCRP) to help facilitate the creation of 154 new jobs.
“The state’s support for this global, creative company will create new jobs and support the ongoing diversification of Lower Manhattan’s economy,” said ESD President, CEO & Commissioner Kenneth Adams. “We welcome Droga5 to their new home and look forward to their continued expansion and success.”
“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.”
Droga5 plans to move into the Silverstein Properties-owned building in Lower Manhattan in early 2014.
