Empire State Development (ESD) today announced AbleTo, a national, technology-enabled provider of behavioral healthcare, will create 94 new jobs and retain 90 jobs as part of an expansion of its New York City headquarters.
“May is Mental Health Awareness Month and an ideal time to spotlight innovative companies in New York working to provide accessible care and support,” said ESD President, CEO & Commissioner Howard Zemsky. “New York’s life sciences industry is continuously advancing treatment options, and we are proud to support AbleTo in their critical work.”
Using analytics and a proprietary communications platform, AbleTo makes behavioral health care personalized and more easily accessible to people suffering from a chronic condition or through a traumatic life event. The company creates a personalized eight-week program during which users receive private, one-on-one therapy and coaching sessions. AbleTo recently expanded its behavioral health technology capabilities by launching the AbleTo Digital Screener, which allows consumers to self-assess their mental health.
“One in five U.S. adults struggle with their emotional or mental health each year,” said Rob Rebak, CEO of AbleTo. “We thank the State of New York for supporting a proven growth company like AbleTo, which is focused on serving an enormous unmet need in our society. This recognition reaffirms our commitment to the state we’ve called home since day one. We are experiencing rapid growth given the increasing attention both health plans and employers are giving to behavioral health solutions.”
To encourage AbleTo to expand and renovate its headquarters at 320 West 37th Street in New York City, ESD has offered the company up to $2 million in Excelsior Jobs Program tax credits, which are performance-based and tied to the creation of 94 net new jobs in data science, technology development, and product design, as well as the retention of 90 existing full-time employees.
AbleTo’s expansion builds on New York’s position at the forefront of the life sciences industry. In the FY 2018 budget, New York State enacted a $620 million initiative to spur the growth of a world-class life science research cluster in New York, as well as expand the state’s ability to commercialize this research and grow the economy. This multi-faceted initiative includes $100 million to expand the Excelsior Jobs Program Tax Credit to the life sciences industry, $100 million for a life sciences research and development refundable tax credit program, and $320 million in other forms of investment including state capital grants to support the development of wet-lab and innovation space, operating support and investment capital for early stage life science companies that leverages an additional match of at least $100 million from private sector.
The Life Science sector encompasses the fields of biotechnology, pharmaceuticals, biomedical technologies, life systems technologies, and includes organizations and institutions that devote the majority of their efforts to the various stages of research, development, technology transfer and commercialization. Every day, firms in this sector are developing new medical and pharmaceutical breakthroughs that have the potential to save lives, whether through new therapies or the early detection of diseases like autism and cancer. These firms are also making significant advancements in the realms of agriculture and environmental biotechnologies, helping create a cleaner and more sustainable future.
About AbleTo
AbleTo is a technology-enabled provider of behavioral health care. AbleTo has been treating patients for over five years, and improves patient outcomes and lowers costs by providing treatment that integrates behavioral and medical health care. AbleTo's structured therapy programs strengthen medical recovery and self-care among members with chronic or complex clinical needs. AbleTo analytics, coupled with our highly-trained engagement team, identify members with unmet, often undiagnosed, behavioral health needs. A proprietary communications platform connects individuals and their care teams with AbleTo licensed providers who deliver weekly sessions by phone or video.
About ESD
Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomo’s Regional Economic Development Councils and the marketing of “I Love NY,” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, please visit www.regionalcouncils.ny.gov and www.esd.ny.gov.
Contact:
Amy Varghese (ESD) | amy.varghese@esd.ny.gov | (212) 803-3740
ESD Press Office | pressoffice@esd.ny.gov | (800) 260-7313