Tuesday, June 13, 2023

Governor Hochul Announces $3 Million Expansion of Manhattan Telecommunications Corporation in New York City

 ribbon-cutting for MetTel expansion

$2.2 Million in State Funding Supports Expansion of Headquarters and 100 New Jobs

Strengthens New York City as Hub for Technology and Innovation

 Governor Kathy Hochul today announced that Manhattan Telecommunications Corporation, a global communications solution provider for businesses worldwide, 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.

"New York City stands as a beacon of innovation where creativity flourishes and the entrepreneurial spirit thrives," Governor Hochul said. "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."

Founded in New York City in 1996, Manhattan Telecommunications Corporation (MetTel) has helped businesses and government organizations boost enterprise productivity, reduce costs and simplify operations through automation. These renovations will transform the headquarters into a cutting-edge workspace that fosters collaboration, creativity, and innovation. 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.

Mayor Eric Adams said, "MetTel is a true New York City company - born and raised here - and I am so thrilled they are staying here. This public-private partnership is creating the jobs of tomorrow, unlocking technology that will help millions of New Yorkers, and supporting the entire city's recovery by hiring an additional 100 employees. Our administration is revitalizing commercial corridors, filling vacant storefronts, and investing in key growth industries — and we have regained 99 percent of jobs lost during the pandemic, because New York City is the place to build your economic future."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.

New York State's strategic investments have cultivated an ecosystem of innovation and growth, nurturing the tech industry in every corner of the state. These targeted investments are instrumental in propelling New York City's growth as a world-class tech hub, serving as a catalyst for job creation and a hotbed for groundbreaking innovations that spur economic progress at both local and global scales. With its global reputation, access to capital, and dynamic ecosystem, New York City has become a magnet for startups and established tech companies, resulting in a robust and resilient tech sector. By supporting this vibrant ecosystem, New York State is driving economic prosperity and solidifying its position as a leader in the digital era.

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