BearingPoint to add over 600 jobs to Lower Manhattan

BearingPoint, Inc., one of the world's largest management and technology consulting firms, signed a lease for 52,000 square feet of office space in Three World Financial Center, the mayor and governor announced on June 27th. The company plans to create a new national hub office downtown with workspace for 633 employees. In return, BearingPoint will receive a $2.4 million Job Creation and Retention Grant.

"BearingPoint's financial services group headquarters and the relocation of over 600 employees to downtown across from the World Trade Center site is further proof that Lower Manhattan is back and better than ever as the 'Financial Capital of the World,'" Governor George Pataki said in a statement announcing the move. "BearingPoint's commitment is undeniable testimony to the growth and revitalization downtown and will help sustain thousands of restaurant and retail jobs in the neighborhood, further spurring Lower Manhattan's remarkable renewal as a 24-hour commercial and residential neighborhood," he continued.

Mayor Michael Bloomberg, too, praised the company's decision. "Recognizing the resurgence of Lower Manhattan as a world-class financial center, BearingPoint joins the growing roster of global institution that are growing in or moving to Lower Manhattan," he said in a statement. "The company's new national hub will bring new jobs and vitality to the area."

"We are excited to join our new neighbors and be a part of the downtown neighborhood," Harry L. You, BearingPoint's CEO, said in a statement. Providing technology and management consulting services to companies and government organizations across the nation and the world, BearingPoint is based in McClean, Virginia, and has approximately 17,500 employees. The firm's decision to open a Lower Manhattan office is part of a company-wide strategy to open national hubs close to key clients and industry centers.

To qualify for the Job Retention and Creation Grant, BearingPoint has made a commitment to remain in Lower Manhattan for at least 10 years. The firm is also investigating additional Lower Manhattan incentives, which could total $700,000.