Latchable specializes in manufacturing keyless entry security system giving property owners the ability to manage every door in a multi-family building. Moreover, residents can also give access to guests as well as service providers through time-limited access codes. The project will retain 189 existing jobs which are at risk of being relocated and create 250 new jobs over 5 years (annual salary of over $110K). The company will invest $2.35M in outfitting the new 80,000 SF facility (Manhattan or LIC location TBD) and estimates over $100M in R&D expenditures over the next 5 years. The company is considering relocating to Newark, Denver, Austin, LA or Seattle.