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Port Authority offers free rent to foreign firms.

Foreign-based firms will be encouraged to enter the American marketplace with minimal start-up costs through a pilot program being established at the World Trade Center in lower Manhattan.

The Port Authority will provide quaIifled foreign companies with rent-free, fully furnished offices at the World Trade Center for up to six months under a two-year business 'incubator' program authorized by the bi-state agency's Board of Commissioners.

If the firms determine within two years that the climate is right for them, they would be obligated to rent space a! the World Trade Center.

Companies will be eligible to participate in this program following a detailed screening process that will determine their potential for expanding their businesses in the New York-New Jersey region. Recruitment will be done by the Port Authority's foreign trade and business development offices in London and Tokyo.

In addition to the free rent, other support services will be available.
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Title Annotation:Port Authority of New York and New Jersey starts pilot program at World Trade Center, New York, New York
Publication:Real Estate Weekly
Date:Feb 24, 1993
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