Needham approves tax break for NBC/Universal

The Boston Globe | By Jennifer Fenn Lefferts
May 10, 2017

Needham Town Meeting approved a tax break for NBC/Universal that could pave the way for a new $125 million state-of-the-art multimedia complex in the Needham Crossing section of the N-Squared Innovation District.

The Comcast subsidiary is looking to combine the CSN sports group in Burlington with the local NBC, NECN, and Telemundo crews that are now located in Newton.

The plan calls for moving 375 employees by sometime in early 2019 to a 165,000-square-foot complex.
The tax increment financing package negotiated by the Needham Board of Selectmen saves the company about $2 million over 10 years.

Greg Reibman, president of the Newton-Needham Regional Chamber, said the town will make back that money by collecting property taxes on equipment such as satellite dishes, cameras and computers.

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