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Friday, March 16, 2018
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The Big One

A breakdown on the day’s biggest Inno story.

Lucy: Who’s in the mood for a story that’s a cocktail of tax incentives, local real estate and Amazon moves?

Our sister publication BBJ reported today that the e-commerce giant was approved to receive up to $10M in property-tax breaks to expand in Boston’s Seaport District.

Amazon’s expansion in the Seaport, which is unrelated to its ongoing search for a second headquarters, became public at the end of February, thanks to a filing with the city of Boston. BBJ reported that the company was in talks with the developer behind the Seaport Square project to lease all the space in a 18-story office building, or “enough space for 2,000 or more new employees.”

Today’s development adds to the picture that the company will receive a $5M reduction in property taxes over a 15-year term for a 430,000-square-foot office. Additional $5M property-tax reductions could be granted should Amazon choose to lease an adjacent building, which would also house 2,000 employees.

The good news? If Amazon ends up leasing both Seaport buildings, it would be required to create and retain a combined 4,000 new jobs “in or within 25 miles of the city area, but all within the commonwealth of Massachusetts,” the agreement states.

Now, a big move like this makes HQ2 come to mind, especially since Amazon asked cities competing to land the company’s second headquarters to include incentives in their initial bids. Boston’s bid didn’t include specific tax breaks. Thanks to the $10M in property-tax breaks, Amazon now has something significant to file under the label “Boston incentives.”

In The Know

The Inno stories you need to read today.

Elsewhere in Inno

Stories from around the Inno network we think you’ll dig.

– A New Wave of Digital Media Startups Are Launching in Chicago. But Will They Survive? [Chicago Inno]
– Young & Restless: Meet the 19-Year-Old Founder of FoodFinder [Atlanta Inno]
– Why D.C. Tech Leaders Should Empower the Local Government to Support Tech’s Needs [DC Inno]

Making Moves

Inside the people, companies and organizations making moves in Boston.

Lucy: After its lease at 60 State Street expired, adtech company Nanigans wanted to keep its HQ in the Downtown Crossing area, as a convenient location for employees who commute from South Station or T stops. So it moved to 100 Summer Street, in a L-shaped space with a large kitchen and many perks, including everyday catered lunch, Friday morning waffles and fresh avocados. I went to take a look at the new space for our latest Office Envy installment. Read more: Office Envy: Inside the New HQ of Nanigans, Where Each Employee Gets a Custom Portrait

Player Personnel

Who’s moving where.

Lucy: Jennifer Jensen is the new VP for national security and space at Draper, the R&D facility born out of MIT that focuses on technology solutions to problems relevant for the national defense. Jensen began her career in the U.S. Army, where she was the first woman distinguished honor graduate of flight school. She joined Draper from Sierra Nevada Corporation.

In The Community

The events and happenings to know about tonight and this week.

Lucy: Venture Cafe’s She Connects mini-conference is on March 22nd and it is stacked with female entrepreneurs, VCs and other leaders. Take a look at the whole agenda here. Girl Power!

Read This Right Now

Insight and analysis from the community and beyond.

KG: CEO of Spotted MediaJanet Comenoswrote a post for Entrepreneur today explaining why she sends a thank-you message to someone who helped her or her company every day: “Every morning, I send a simple text message or email, thanking someone on this list for something they’ve done for me or for Spotted. It could be a helpful phone call we had yesterday or a piece of advice they gave me a year ago. Most of the time, I’ll get a response, and it starts my day and the recipient’s on a brighter, more hopeful note.” 


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Meet The Authors

Lucia Maffei

Kyle Gross (KG)

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