Manhattan Telecommunications Corporation, yesterday announced it is investing $3 million to extensively renovate its 55 Water Street headquarters in New York City. As part of its growth plans, MetTel has committed to creating at least 100 new full-time jobs in software development and professional services while retaining 180 full-time jobs, supported by up to $2.2 million in performance-based Excelsior Jobs Program tax credits from Empire State Development. ESD was joined by the New York City Economic Development Corporation to mark the milestone with a ribbon cutting at MetTel's 55 Water Street headquarters.
The company maintains significant operations in New Jersey, Utah, and Rhode Island which were also considered for this expansion project, in addition to a proposed new location in Florida. MetTel was assisted by K&L Gates LLP and Colliers with site selection, negotiations and incentives for the project.
Additionally, the NYCEDC Business Development team worked alongside MetTel and ESD throughout two years of ongoing conversations to ensure that this expansion occurred in NYC. Currently, MetTel is working with NYCEDC on bolstering workforce development related activities and strengthening their role within the Lower Manhattan business community.
Governor Kathy Hochul
New York City stands as a beacon of innovation where creativity flourishes and the entrepreneurial spirit thrives. The expansion of MetTel serves as a testament to the region's stature as a dynamic tech hub, reaffirming our position at the forefront of innovation, growth, and job creation.
New York City Economic Development Corporation President & CEO Andrew Kimball
We are thrilled to have worked alongside our partners at Empire State Development to provide the resources that MetTel needed to not only stay in New York City but double down by hiring an additional 100 full-time jobs. A true NYC-founded organization, MetTel's decision to invest in New York City for the long-term serves as an example of the confidence and strength the business community feels in the Adams Administration. New York City continues to foster these high-wage, high-growth sectors, and NYCEDC remains deeply committed to building a vibrant, inclusive, and globally competitive economy throughout the five boroughs.
MetTel CEO Marshall Aronow
MetTel is excited to renew its commitment to the city that has been instrumental in our success. New York City has always been a driving force of innovation and resilience, and we are proud to be part of its thriving business community. With our continued presence in the heart of Manhattan, we look forward to fostering stronger partnerships and delivering even greater value to our clients.
