Cambridge tech stalwart Akamai will move across the street to a new headquarters with the help of a newly granted $700,000 in state tax breaks amid criticism that the company, founded out of the Massachusetts Institute of Technology, was likely to stay put after nearly two decades in Cambridge.

“We’ve always considered Massachusetts home and have seen tremendous benefit being here,” said Jeff Young, a spokesman for Akamai.

The tax break is contingent on the company adding 700 new jobs, and will be used to pay for mergers and acquisitions, the company’s technology or employee salaries, Young said.

Akamai, which provides internet infrastructure, plans to move across the street to a new 454,000-square-foot building at 145 Broadway in Cambridge’s Kendall Square in 2019.

During the company’s presentation to the Economic Assistance Coordinating Council, which approves tax breaks, one council member noted that Akamai is paying the state just over $400 in corporate income tax, and he questioned whether tax breaks were necessary to keep a company with such deep Cambridge ties.

“Kendall Square might be the hottest commercial real estate market in North America, and last year it seems you paid the commonwealth $456 in terms of corporate taxes, but the incentive you’re requesting is necessary to support this expansion?” said Michael Goodman, a council member and executive director of the Public Policy Center at University of Massachusetts Dartmouth.

State economic development officials said the $700,000 was an investment to guarantee Akamai continues to grow in Massachusetts, and said the investment would pay for itself from income tax from the additional employees.

Akamai told the council the average salary of the 700 new employees is expected to be $100,000.

But the tax break is expected to go to Akamai almost entirely in the form of a check, thanks to the company’s predicted $456 state tax payment next year, according to the company’s application for the credit. State officials said Akamai takes advantage of a state research and development tax deduction that allows the company to pay such a low tax bill. The credit awarded to Akamai yesterday is a refundable credit, meaning the balance — expected to be $699,544 — will be paid as a tax refund on its 2017 tax return.

Refundable tax credits are used when a company has a low or nonexistent tax liability, officials said, but they have drawn the eye of the Legislature, which capped its use to $5 million each year.

Earlier this year, the state awarded a refundable $8 million credit to Kronos, which said it did not expect to pay any state taxes. That company did not respond to a request for comment.