NYS Seal For Immediate Release:
March 29, 2005


Silver Welcomes 1,300 Verizon Employees to Lower Manhattan

Company Formally Relocates Corporate Headquarters To 140 West Street

Assembly Speaker Sheldon Silver today welcomed the official announcement of the relocation of the Verizon Corporate Offices to 140 West Street in Lower Manhattan. The move will bring 1,300 employees and Verizon's executive offices to the downtown area, which Silver expects will convey "new energy and excitement to a community working to rebuild in the wake of the September 11 attacks."

"This is certainly welcome news for those of us who are committed to getting Lower Manhattan up and running better, faster, healthier, stronger and more efficiently as a central business district for our working families, small businesses and our major financial houses," said Silver.

"I congratulate Verizon for their expression of commitment to New York City and to Lower Manhattan, in particular. It is my hope that other companies and institutions will follow suit and that we continue to rebuild and reoccupy this historic, diverse and vibrant community," said Silver. "This is an important step in preserving the spirit of Lower Manhattan for generations to come."

A recent report issued by Silver, "The Lower Manhattan Economy After September 11," drew attention to continuing economic struggles facing the Lower Manhattan community he represents in the state Assembly.

One of the key concerns expressed by Silver in the report is the alarming vacancy rate in downtown Manhattan. He noted that the vacancy rate in the downtown office market actually increased in 2004 to a rate of 13.7 percent.

In the same report, Silver noted the lack of a cohesive plan by Governor George Pataki and New York City Mayor Michael Bloomberg for the rebuilding, revitalization and reoccupation of Lower Manhattan.

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To view remarks by Speaker Sheldon Silver at the Association for a Better New York Breakfast please click here

To view World Trade Center Information, please click here.