Governor Kathy Hochul announced Monday that the global sports platform Fanatics will significantly expand its operations in New York City and create 300 high quality jobs over the next five years. The company plans to invest more than $50 million to build out 95,000 square feet of additional office space at its Manhattan headquarters located at 95 Morton Street. This project will bolster the technology and product divisions of the firm as it continues to scale its digital commerce and betting business units.
“Fanatics is one of the most innovative companies in the global sports and digital commerce economy and their decision to grow here sends a powerful signal that our state remains the premier destination for companies building the future,” Hochul said. The expansion is supported by Empire State Development which has offered the company up to $5 million in performance based tax credits through the Excelsior Jobs Program. These incentives are tied directly to the company meeting its hiring targets for the new positions.
The move by Fanatics is part of a larger trend of technology and digital firms deepening their roots in the Five Boroughs. New York City has recently secured expansion commitments from several high growth firms including the collaborative design platform Figma and the audio research company ElevenLabs. Other major players such as PayPal and the cryptocurrency exchange Kraken have also announced plans to increase their local headcount. Collectively these recent expansions represent more than 2,500 new jobs and over $180 million in private investment within the city.
Fanatics currently employs approximately 650 people in New York City and the new roles will span across its various business verticals including Fanatics Commerce and Fanatics Collectibles. Hope Knight the president and chief executive officer of Empire State Development said the growth of Fanatics “demonstrates the strength of our talent pipeline and the unmatched value of doing business in the Empire State.” The company also confirmed that its flagship fan festival will return to the Javits Center this summer further cementing the intersection of the sports and technology sectors in the city.
The tech sector in New York City is now valued at over $189 billion and remains the second largest technology hub in the world. Emerging leaders such as Bilt Rewards and Radical AI are also among the firms contributing to this growth as the city continues to attract diverse industries ranging from fintech to artificial intelligence. This sustained investment highlights the city ability to provide the infrastructure and skilled workforce necessary for global tech companies to thrive.
