The Backstory of Buzzfeed’s New York Tax Credits

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by: Nicole Levy | Capital New York

Buzzfeed explored the option of moving 200 of its employees to office space in New Jersey before New York’s chief economic development agency entered into an agreement giving the company $4 million in tax credits to promote the retention and creation of in-state jobs, Capital has learned.

 

“While we would likely continue to maintain an office in NYC for employees who meet frequently with others in NYC…the pricing differential between the real estate we have seen in NYC and the real estate in New Jersey indicates that relocating 200 of our current employees to a New Jersey office may make sense,” the digital media powerhouse said in an application to New York state’s Excelsior Jobs Program, obtained by Capital through a F.O.I.L. request.

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