Governor Andrew Cuomo said in a press conference that 832 current jobs will also be saved by Spotify's decision to stay in the city, where it is now based in the Chelsea neighborhood. It's the first building on the 16-acre historic World Trade Center site to fill up, beating out One WTC.
The company established its USA headquarters in NY and is now planning to expand its operations.
Spotify agreed to move its 832 existing New York City employees to the building and create 1,000 new jobs, Gov. Andrew Cuomo and Silverstein executives announced today.
To incentivize Spotify's growth even further, Empire State Development, or ESD, will provide the company up to $11 million in "World Trade Center Rent Reduction Program rent credits", which will be available for 15 years of Spotify's lease, Cuomo added.
Horacio Gutierrez, who serves as Spotify's general counsel, says Spotify considered a few other places to expand, but ultimately decided they were best served continuing to operate in NY. "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 will bring more diversity and a whole lot of music to the area", he said, telling reporters that the jobs will be in fields like engineering, marketing and all other areas of the service.
Spotify has numerous competitors in the music streaming industry, including Alphabet's Google Music, YouTube, Apple Music, Pandora Media Inc. and Tidal. "It ups the cool factor in Lower Manhattan and boosts the neighborhood's cultural cred", said Jessica Lappin, the group's president.
Headquartered in Stockholm with offices scattered around the world, Spotify already occupies considerable real estate in Manhattan's Flatiron District.