Medidata, a provider of cloud-based clinical development solutions for life sciences, will invest more than $20 million to expand its New York City operations center, creating at least 250 new jobs and retaining 271 employees.
The project will consolidate and expand the company’s New York City operations into one facility, which will occupy over 98,500 square feet of rentable space on three floors of an office building in West Soho, Manhattan. Medidata employs people in the areas of engineering and software development, IT, finance, human resources, facilities, marketing and sales.
“Since our start in 1999, Medidata has drawn on the deep skills base and robust resources in New York State as we have grown into the industry leader in life sciences clinical technology,” said Tarek Sherif, CEO, Medidata Solutions. ”We are committed to New York as our global headquarters as we continue to grow, executing on our vision of helping transform the complex process of bringing new medical treatments to the public.”
“Medidata’s decision to choose New York as the place to expand their global headquarters is a testament to the State’s world-class workforce and to the new business-friendly mentality that is helping turn our state’s economy around,” Cuomo said. “This administration has focused on building and promoting robust, innovate industry clusters that will create good-paying jobs, and I am pleased Medidata has chosen to take advantage of them and expand their operations here in New York.”
“Under Governor Cuomo’s leadership, the State’s improved business climate is spurring private investments by industry leading companies, like Medidata, and creating new jobs for New Yorkers,” said Empire State Development President, CEO & Commissioner Kenneth Adams. “High-tech and life science industries are critical to staying competitive in the global economy and Medidata’s decision to grow here further cements the Empire State’s reputation as a place where innovative companies can grow and thrive.”
As an incentive to encourage the company’s job and investment growth in New York, Empire State Development provided Medidata with $2.75 million in performance-based tax credits. Medidata’s expansion was also supported by the New York City Regional Economic Development Council, which made promoting and encouraging the growth of a health information technology cluster in the region a priority in its strategic plan.