The company is presently headquartered in a low-key 100,000 square foot building along Needham Street and is looking to expand into a new 230,000 signature building that would be visible from Route 128, with room to expand into a second building in the future. They’re also looking to add about 250 employees over the next five years.
Wednesday night, Needham selectmen unanimously approved a tax increment financing offer which essentially gives the company some property tax breaks over the next 13 years. The deal still needs to be approved by Needham Town Meeting in December and the state.
This would clearly be a loss for Newton but its a game changer for an office park that been slow to realize its potential.