Wednesday, April 25, 2007

Free Office Space in Michigan

For this New York Times article:

"Michigan’s largest commercial landlord is offering free space as an incentive to attract business into the economically challenged state.

"The landlord, the Farbman Group, which operates 20 million square feet of office space and other real estate in Michigan, plans to announce on Wednesday a program called Michigan Now that will subsidize office and industrial space for start-up companies and companies new to the state.

"Farbman, based in Southfield, Mich., intends to accept applications for the program through June 30 and begin placing companies in available space by fall.


"Companies that are selected for the Michigan Now program will be responsible for utilities and other operating costs of their space, but Farbman will not charge rent, Mr. Farbman said. Office space in the Detroit area typically leases for $15 to $25 a square foot annually."
For more on Michigan's economy, see CARPE DIEM in general, and, in particular, yesterday's post entitled "Michigan: One-State Recession"


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