GOVERNOR HOCHUL ANNOUNCES $3 MILLION EXPANSION OF MANHATTAN TELECOMMUNICATIONS CORPORATION IN NEW YORK CITY

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

Strengthens New York City as Hub for Technology and Innovation

NEW YORK, June 13, 2023 /PRNewswire/ -- 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. MetTel was assisted by K&L Gates LLP and Colliers with site selection, negotiations and incentives for the project.

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."

Empire State Development President, CEO and Commissioner Hope Knight said, "ESD is proud to support the expansion of MetTel, a shining example of a company grown in the heart of New York City's vibrant tech sector. Our city's dynamic environment and access to top-tier talent have propelled MetTel's growth and innovation. This expansion demonstrates the power of New York City as a catalyst for success in the tech industry and we are thrilled that MetTel will continue to grow its legacy in the Empire State."

New York City Deputy Mayor for Housing, Economic Development, and Workforce Maria Torres-Springer said, "This is a win for New York City, and New York State, and an outstanding example of government creating the conditions for the private sector to thrive. I look forward to MetTel adding 100 jobs to the city's economy and to continued growth of the company and the greater telecommunications industry in New York."

New York City Economic Development Corporation President & CEO Andrew Kimball said, "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 said, "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."

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.

Media Contacts:

Mike Azzi
MetTel
mazzi@mettel.net
347-420-0957

Emily Mijatovic
Empire State Development
Emily.migatovic@esd.ny.gov
212-803-3692

Jeff Holmes
NYCEDC
press@edc.nyc
646-531-6092

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SOURCE MetTel