WeWork Growth Campus Expands Nationally, Providing an Additional $35 Million in Space, Resources for Startups and Nonprofit Organizations Across the U.S.

Rhea-AI Summary

WeWork (NYSE: WE) is expanding its WeWork Growth Campus program to Boston, Chicago, Los Angeles, and Washington, D.C., investing an additional $35 million in space for startups and nonprofits. This initiative follows a successful launch in New York City, attracting over 200 applicants. The expansion includes $4.8 million for Boston, $8.8 million for Chicago, $5.2 million for Los Angeles, and $16.3 million for Washington, D.C., totaling access to over 800 offices nationwide.

Positive

• Expansion into four major U.S. cities increases market presence.
• Commits an additional $35 million in resources for startups and nonprofits.
• Attracted over 200 applicants during the initial New York launch.

Negative

• None.

Following successful launch in NYC, WeWork Growth Campus is expanding to Boston, Chicago, Los Angeles, and Washington, D.C.

NEW YORK--(BUSINESS WIRE)-- WeWork (NYSE: WE), a leading flexible space provider, announced today that it is expanding its WeWork Growth Campus program nationally and committing an additional $35 million in space for startups and nonprofits in four cities across the country.

Following a successful U.S. launch in New York City in February, to which more than 200 companies have applied, WeWork Growth Campus is now expanding to Boston, Chicago, Los Angeles and Washington, D.C., with the aim to boost economic recovery in those cities by providing support and resources to startups, entrepreneurs and nonprofits.

As part of this national expansion, WeWork is committing $4.8 million in space in Boston; $8.8 million in space in Chicago, $5.2 million in space in Los Angeles and $16.3 million in space in Washington, D.C. In addition to the 11 existing WeWork Growth Campus locations in New York City, WeWork Growth Campus members will now will now have the choice of space in more than 800 offices in 13 additional locations across the country:

• Boston: 200 Berkeley, 200 Portland St
• Chicago: 20 W Kinzie, The National, 330 North Wabash, 220 N Green St., 515 N State
• Los Angeles: 222 Pacific Coast Highway, 1601 Vine
• Washington, D.C.: Metropolitan Square, 1775 Tysons Blvd, 200 Massachusetts Ave NW, Midtown Center

In addition, WeWork will offer all Growth Campus members mentorship, networking opportunities and educational programming. WeWork Growth Campus members will also have access to WeWork Labs, offering virtual acceleration support, online access to expert advice, a global network of entrepreneurs, and exclusive member benefits and discounts to help them grow.

“While the pandemic has challenged businesses across all sectors, we’ve also seen entrepreneurship rally in the face of adversity across the country, as Americans filed for more new businesses - 5.4 million in 2021 - than in any other year on record,” said Melinda Holland, President and COO of The Americas at WeWork. “As 2022 looks to be another record year for new businesses, we couldn’t be more thrilled to expand WeWork Growth Campus across the country and do our part to help support American innovation, entrepreneurship and service.”

“D.C. is the District of Comebacks, and one of the ways that we’ll come back is attracting and supporting more tech entrepreneurs to collaborate together again in the unique setting that only WeWork can provide,” said D.C. Deputy Mayor for Planning and Economic Development John Falcicchio. “D.C. is proud of its tech culture which is fueled by the most highly educated talent pool in the country and where we have been recognized as a top city for women and Blacks in tech. If an innovator has an idea for the Feds, Eds or Meds, they need to be in D.C. and we’re excited WeWork is offering this Growth Campus opportunity to do so.”

About WeWork

WeWork Inc. (NYSE: WE) was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we’ve become one of the leading global flexible space providers committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences. For more information about WeWork, please visit us at wework.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220316005423/en/

Keegan Calligar

press@wework.com

Source: We Work

FAQ

What is the investment amount for the WeWork Growth Campus expansion?

WeWork is investing an additional $35 million for its Growth Campus expansion.

Which cities are included in the WeWork Growth Campus expansion?

The expansion includes Boston, Chicago, Los Angeles, and Washington, D.C.

How many applicants did the WeWork Growth Campus receive in New York?

The initial launch in New York City attracted over 200 applicants.

What are the financial commitments for each city in the expansion?

Boston will receive $4.8 million, Chicago $8.8 million, Los Angeles $5.2 million, and Washington, D.C. $16.3 million.