Spotify Adds 1000 Jobs In NYC, Will Move To World Trade Center Thanks To $11M In State Incentives
To think that Spotify has inadvertently (we hope) helped President Trump "make america great again"… The Stockholm based music streamer announced today that it would be adding 1000 jobs in the U.S. over the next two years. Of course, there were also those $11 million in New York rent incentives that helped make the deal possible.
New York Governor Andrew Cuomo today announced that Spotify will move its U.S. headquarters to 4 World Trade Center, creating more than 1,000 new jobs while retaining 832 current employees. Spotify, which currently has offices in Midtown South, will move its New York office and its employees to 378,000 square feet of office space in the new Fumihiko Maki-designed building in early 2018.
To encourage Spotify to expand its operations in New York, Empire State Development has provided up to $11 million in World Trade Center Rent Reduction Program rent credits, available for approximately 15 years of Spotify’s lease.
Spotify’s relocation to the new building will make it the first office tower to be fully leased on the historic 16-acre World Trade Center site. The Governor made the announcement at an event in New York City where he also released his obligatory Spotify playlist.
“Lower Manhattan is more vibrant, diverse, and connected than ever before, and Spotify’s expansion is the latest example of this community’s incredible potential for growth,” Governor Cuomo said. “New York is rapidly emerging as the nation’s leading hub for tech and innovation, creating more jobs and more opportunities and emerging as the epicenter of the 21st economy. We are proud to welcome Spotify to 4 World Trade Center and to have the future of music be a part of the bright future of our dynamic tech community.”
"Today's Spotify announcement is music to our ears. It ups the cool factor in Lower Manhattan and boosts the neighborhood's cultural cred," affed Downtown Alliance President Jessica Lappin . "It's also big news as it means leasing at 4 WTC is now complete. Along with the concentration of media firms already here, and the forthcoming Performing Arts Center, Spotify's move is going to jump-start the growth of a vibrant local entertainment scene in Lower Manhattan."