Squarespace To Expand NYC HQ With $2.2M Tax Break

WEST VILLAGE, NY — Tech company Squarespace will add at least 150 jobs at its West Village headquarters with the aid of $2.2 million in tax breaks from New York State, Gov. Andrew Cuomo announced this week.

The company, founded in a University of Maryland dorm room, will use the tax break to invest in building out two full floors of the Maltz Building on Clarkson Street near Seventh Avenue. Following the expansion, Squarespace's headquarters will occupy 166,000 square feet over five stories in the building.

Squarespace moved into the West Village office building in 2016. The company provides its clients with a full-service website building platform that makes setting up personal or business websites easy for people who don't know how to code.

"Our vision at Squarespace is to be the leading brand platform for the next generation of independent businesses and creators, and we're proud to invest in our headquarters to attract new employees who will help our customers around the world succeed in their pursuits," Founder and CEO Anthony Casalena said in a statement.

The company is promising New York State at least 156 new tech jobs. With the $2.2 million tax exemption, that comes out to about $14,102 per job. Sqarespace will not receive the full value of the "Excelsior Tax Credits" if they fail to add the jobs by 2022 or fail to retain the jobs and the company's existing 700 plus jobs through 2029.

New York Gov. Andrew Cuomo described the Squarespace expansion as a win in New York's goal to become a leader in the technology industry.

"New York State has added tens of thousands of tech jobs over the last decade — and we are not slowing down anytime soon. Thanks to smart state investments in the tech-talent pipeline, we are continuing to grow our economy and generate opportunities for New Yorkers," Cuomo said in a statement.