Today we are announcing a commitment to growing Etsy here in Brooklyn, where we’ve proudly been based since the company started almost nine years ago. This week, Etsy signed a lease to move our headquarters just up the street in 2016, as an anchor to a new complex known as Dumbo Heights.
From relatively humble roots in an apartment in Fort Greene, we’ve become one of New York City’s largest homegrown tech employers. We currently have more than 350 employees in Brooklyn, and our new space will allow us to grow our local staff by more than 300 people in the next five years. It will be LEED-certified and support our bike-to-work program, enabling us to continue our efforts to reduce Etsy’s environmental footprint. We’ll remain firmly planted in Brooklyn, where so many independent, creative businesses are flourishing. We’ll continue to influence and be influenced by the mix of industries here, from media to fashion to a burgeoning manufacturing renaissance.
Etsy’s social and economic impact extends beyond our role as an employer. In 2013, more than 1 million Etsy sellers — most of them women, running home-based businesses — sold more than $1.35 billion in goods on our e-commerce platform. With our fee structure, they take home the vast majority of that income. In New York State alone, more than 55,000 Etsy micro-businesses sold $68.6 million worth of goods in the last year. We believe that Etsy’s expansion will bring a lot of good to our broader community, through a business model that delivers value back to people.
“New York’s reputation as a center of innovation and commerce, combined with our appeal as a place where entrepreneurs and talented workers want to live, are among the many factors that make the Empire State a place where businesses come to invest and grow,” Governor Andrew M. Cuomo said. “After launching in Brooklyn nearly nine years ago, Etsy continues to thrive, offering an exciting technology platform that empowers tens of thousands of New York State businesses and individuals. It is great news to see a New York based company like Etsy continue to expand here, helped in part by the competitive resources the State offers to drive economic growth and keep these jobs here in our communities.”
Over the last nine years, we’ve seen the tech industry here grow, and we take our role as a leader in it seriously. By expanding our operations, we are able to support myriad local businesses, from furniture vendors to food purveyors. In New York, tech is not an isolated industry, but instead embraces community and urban life. We’re excited to continue to grow here.