Empire State Development (ESD) today announced that Flatiron Health, a healthcare technology and services company focused on accelerating cancer research and improving patient care, will create 324 new jobs in a major expansion. The company will relocate its headquarters to One SoHo Square in New York City and occupy nearly 108,000 square feet of office space by spring 2018.
“Companies like Flatiron Health create quality jobs and spur rapid advancement in New York’s growing healthcare and technology industries,” said ESD President, CEO & Commissioner Howard Zemsky. "Flatiron’s expansion will broaden our understanding of cancer research and patient care and support the state’s cutting-edge life sciences sector.”
Founded in 2012, Flatiron is a New York City-based healthcare technology company that enables cancer researchers & providers to learn from the experience of every patient. Flatiron’s interdisciplinary team — nearing 500 employees — includes oncologists, software engineers, quantitative scientists, product managers and designers working together to transform the way cancer is understood and treated.
"We are humbled by Flatiron’s growth over the last five years,” said Nat Turner, co-founder and CEO of Flatiron Health. “New York has been our home since launching in 2012 with just a handful of employees in a shared workspace. We’re thankful for New York State’s support as we grow our team working to accelerate cancer research in the months and years to come.”
To encourage Flatiron Health’s growth in New York State, ESD offered the company up to $6 million in performance-based tax credits through the Excelsior Jobs Program. Flatiron will create 324 jobs over the next five years, while investing more than $4.6 million to fit out and equip its new headquarters at One Soho Square. Flatiron will also retain 333 jobs in New York.
Flatiron Health’s expansion builds on New York State’s position at the forefront of the life sciences industry. In the FY 2018 budget, New York State enacted a $620 million initiative to spur the growth of a world-class life science research cluster in New York, as well as expand the state’s ability to commercialize this research and grow the economy.
This multi-faceted initiative includes $100 million to expand the Excelsior Jobs Program Tax Credit to the life sciences industry, $100 million for a life sciences research and development refundable tax credit program, and $320 million in other forms of investment including state capital grants to support the development of wet-lab and innovation space, operating support and investment capital for early stage life science companies that leverages an additional match of at least $100 million from the private sector.
About Flatiron Health
Flatiron Health is a healthcare technology and services company focused on accelerating cancer research and improving patient care. Our platform enables cancer researchers and care providers to learn from the experience of every patient. Currently, Flatiron partners with over 265 community cancer clinics, five major academic research centers and 13 out of the top 14 therapeutic oncology companies. Flatiron is backed by Google Ventures, First Round Capital, Roche and others. For more information, please visit www.flatiron.com or follow us @FlatironHealth.
About Empire State Development
Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomo’s Regional Economic Development Councils and the marketing of “I Love NY,” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov.