Yext Expands New York City Headquarters
The company plans to invest tens of millions of dollars into its new 142,500-square-foot headquarters at 61 Ninth Avenue in Manhattan, growing its workforce to more than 1,100 in New York.
"Yext is excited to unveil The Yext Building, and our plans to expand Yext with 500 new jobs in our hometown of New York," said Howard Lerman, Founder & CEO of Yext. "In an era of information overload, with so much of it wrong, The Yext Building will stand proudly as we bring brand verified answers to the world. We founded Yext as three guys in a single room in Columbus Circle. More than a decade later, our innovative products, world-class team, and massive opportunities are being felt around the world. It's still Day One at Yext. Each day we wake up to put the truth out into the world."
The company made the decision to expand in its home state of New York after analyzing the company's financial options and talent needs. To support the company's creation of 500 software development engineering, R&D, sales engineering, business development, marketing and administration jobs, Empire State Development has offered Yext up to $6 million in performance-based Excelsior Tax Credits over 10 years. Yext will only receive the full incentive if they create 500 jobs over the next five years and then retain those new jobs and their existing New York City-based jobs for another five years.
Empire State Development President, CEO & Commissioner Howard Zemsky said, "Yext's expansion will bring hundreds of high-paying, cutting-edge tech jobs to New York City - reflecting our highly-skilled workforce and helping the Empire State stay at the forefront of the tech industry."
"Tech companies like Yext are thriving and expanding across the state thanks to New York's top-notch talent, educational institutions and cultural resources," Governor Andrew Cuomo said. "We are proud to support companies that invest in New York State and grow our innovation hubs, which in turn attract more world-class businesses and further elevate our 21st century economy."
"This expansion of Yext will allow for continued growth of the tech company and create 500 new, good paying jobs in New York City," said Lieutenant Governor Kathy Hochul. "The significant investment will increase the company's workforce to over 1,000 in the state, further advancing the high-tech industry in New York and strengthening the economy."
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