Company Leasing More Than 163,000 Square Feet at 11 Madison Avenue in Manhattan’s Flatiron District
Empire State Development To Provide Up To $9.96 Million in Performance-Based Excelsior Jobs Program Tax Credits To Support Job Creation and R&D Investment
Advances Governor Hochul’s Efforts To Grow New York’s Innovation Economy and Strengthen the State’s Leadership in Artificial Intelligence
Governor Kathy Hochul today announced that Clay, a New York City-founded artificial intelligence go-to-market platform, will significantly expand its headquarters in Manhattan, leasing 163,095 square feet of office space at 11 Madison Avenue in the Flatiron District. To support the project, Empire State Development (ESD) is offering Clay up to $9,960,000 in performance-based Excelsior Jobs Program tax credits in exchange for the company's commitment to create 498 new full-time jobs over five years and invest $50 million in research and development activity in New York State.
“The global race for artificial intelligence leadership is happening right now — and New York is winning," Governor Hochul said. "Clay’s decision to expand here reinforces that companies at the forefront of AI are choosing New York for our talent, our infrastructure, and our commitment to innovation-driven growth.”
Empire State Development President, CEO and Commissioner Hope Knight said, “Clay’s expansion is a strong signal that New York continues to be a destination where innovative companies can start, scale, and succeed. By deepening its presence in New York City, Clay is creating high-quality jobs and advancing cutting-edge work in artificial intelligence. Empire State Development is proud to support projects like this that strengthen our innovation ecosystem and reinforce New York’s position as a global leader in emerging technologies.”