Etsy wants to nearly double the number of employees working in Brooklyn, New York to 650 in the next 5 years and the company signed a lease for new offices down the street from its current location. It’s a significant win for the state, and New York Governor Andrew Cuomo heralded the news in a press release.
The governor revealed the state was providing up to $5 million in performance-based tax credits to encourage the expansion in New York City and Hudson, New York. The credits are tied directly to the company’s job creation and investment commitments, and the governor said Etsy’s workforce will include a combination of engineering, administration, marketing and support jobs.
Etsy expects to move to its new headquarters at 117 Adams Street in the DUMBO neighborhood by 2016, and increase the total number of Etsy employees in New York State to 740 by 2019.
Etsy CEO Chad Dickerson also wrote about the upcoming move on the company blog. Etsy’s new headquarters will be an anchor to a new complex known as Dumbo Heights. “We’ll remain firmly planted in Brooklyn, where so many independent, creative businesses are flourishing,” Dickerson said. “We’ll continue to influence and be influenced by the mix of industries here, from media to fashion to a burgeoning manufacturing renaissance.”
“We believe that Etsy’s expansion will bring a lot of good to our broader community, through a business model that delivers value back to people.”
See Dickerson’s post on the Etsy blog.