Spotify Moves U.S. Headquarters To NYC’s World Trade Center
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 owned by Silverstein Properties, Inc. in early 2018.
According to Governor Andrew Cuomo’s office, “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."
“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.”
To encourage Spotify to expand its operations in New York, Empire State Development will provide the award-winning music service company up to $11 million in World Trade Center Rent Reduction Program rent credits, available for approximately 15 years of Spotify’s lease. Spotify will create more than 1,000 new jobs and retain 832 jobs, while investing to fit out and equip its new office space.
“With its multi-industry footprint covering music, software development, and social media, Spotify will further diversify Lower Manhattan’s economic base,” the Governor said in an announcement that also included his Spotify playlist. “In filling out its new space, Spotify plans to increase its workforce in New York comprised of software engineering and product teams, label and artist relations, editorial, shows, original content, marketing, legal, sales, finance among other sectors.”
“We appreciate the help of Governor Cuomo and New York State in continuing to grow our team and home in New York City,” said Horacio Gutierrez, General Counsel, Spotify. “New York gives us access to the most diverse talent market in the world and we’re incredibly excited to build out our new space at 4 WTC.”
“Under Governor Cuomo’s leadership, New York State is experiencing unprecedented growth in the tech sector, which is spurring job creation across the state,” said Howard Zemsky, President, CEO & Commissioner of Empire State Development. “Spotify, with its 1,882 tech and media jobs, will further diversify Lower Manhattan’s business community and help move the neighborhood into the 21st Century economy.”
“In the last 10 years, almost 700 companies have moved downtown, leasing over 16 million square feet of space,” said Janno Lieber, President of World Trade Center Properties, an affiliate of Silverstein Properties. “The World Trade Center has led the way, attracting an amazing mix of creative, technology, financial services and media companies who have taken nearly 6 million square feet. Spotify’s decision to join Condé Nast, GroupM and MediaMath at the World Trade Center takes Downtown to a new level.”
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