Pending a vote by Town Meeting next week, TripAdvisor could well be coming home to Needham.
At last night's Needham Board of Selectmen meeting, officials and TripAdvisor representatives answered some questions from Needham residents about the tax increment financing (TIF) program proposed by the Selectmen.
This will come before Needham Town Meeting next week, as article 1 of the Dec. 3 Special Town Meeting.
"We did site search and focused on 128 corridor." Tyler Young, Vice President, Finance and Administration commented, "Needham is our top choice, pending the TIF approval. Will be excited to move back to home town of Needham."
TripAdvisor will be bringing 450 jobs from their Newton offices, and have committed to adding 50 jobs a year for the first five years.
Young added, "we expect to grow faster than that."
Residents with questions can head to an information session at TripAdvisor's Newton headquarters on Thursday evening at 5 p.m.
In order to meet the site developer's needs and schedule, TripAdvisor needs to sign a lease at the end of the year, or in early January of the next. In order for construction to begin next summer as hoped, the TIF will first need to be approved by Town Meeting on Monday.
The company began in 2000 in Needham, and is outgrowing its Newton headquarters. Two weeks ago, Needham's Selectman voted in favor of a TIF program with TripAdvisor, which they hope will bring not only TripAdvisor, but a number of tech companies to Needham's new business park.