A state council on Thursday approved a $31.4 million tax break for Wayfair Inc. in exchange for its pledge to add at least 3,000 more jobs in Boston and create 300 jobs at a new call center in Pittsfield.
The tax break is one of the largest ever awarded by the Massachusetts Economic Assistance Coordinating Council, the state’s primary corporate tax-break program. It is related to Wayfair’s (NYSE: W) plan to take over approximately 300,000 square feet at 10 St. James Place in Back Bay.
Wayfair already has two large offices in the neighborhood: its corporate headquarters at Copley Place, as well as nearly 400,000 square feet of space at 500 Boylston St./222 Berkeley St. through a lease that it finalized earlier this year. Together, the three buildings will serve as Wayfair’s corporate headquarters and will be able to accommodate roughly 10,000 employees, according to a separate statement from the company.
As part of the tax break, Wayfair has committed to create 3,300 new jobs in total in Massachusetts and to retain 3,809 jobs in the state. If it does not meet those targets, it could lose the tax break, though the state has not always revoked incentives when companies do not meet their job requirements in the past. Read more about the call center heading to Pittsfield >>