Etsy on the make in Dumbo

By Matthew Perlman - Source:

A company that helps do-it-yourselfers market their wares online is expanding faster than we can crochet a beer cozy.

Etsy is planning to move a few blocks from its current Dumbo home into new, bigger digs in the planned Dumbo Heights development inside the former Watchtower buildings at the foot of the Brooklyn and Manhattan bridges. The added elbowroom will allow the craft juggernaut to ramp up its operations, a company rep said.

“We believe this new building will help us attract and retain better talent here in Brooklyn and accelerate growth,” said Etsy spokeswoman Sara Cohen.

Founded in a Fort Greene apartment in 2005, the corporation currently employs 350 people at its headquarters on Washington Street between Front and Water streets. It plans to move around the block in 2016, becoming an anchor tenant for the properties formerly owned by the Jehovah’s Witnesses that developer Kushner Companies hopes will become a hub for technology companies, and growing by 300 workers by 2019. Etsy is getting a fat $5-million in state tax breaks for its trouble.

The government giveaway is part of an economic development program meant to encourage job creation and is contingent on Etsy keeping the new positions in the state.

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