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MegadealsSubsidy Tracker Individual Entry
Company: Swiss Bank Corp. (now UBS)
Parent Company:
UBS
Subsidy Source: multiple
Location: Connecticut
City: Stamford
Project Description: North American headquarters for investment bank
Year: 1994
Major Industry of Parent: financial services
Specific Industry of Parent: banking & securities
Subsidy Value: $150,000,000
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy:
MEGADEAL
Number of Jobs or Training Slots: 2,000
Source of Data: The subsidy value and breakdown as well as the jobs projection came from: Kenneth R. Gosselin, "Incentives Attract Swiss Bank to State," Hartford Courant, September 22, 1994.
Notes: The package, which Swiss Bank Corp. received to relocate from Manhattan to Stamford, included: $120 million in state corporate income tax credits over 10 years with the possibility of a five-year extension worth another $25 million; and free land worth $5 million provided by the city of Stamford. The package also included a $15 million break on electricity bills from Northeast Utilities which is not included in the subsidy totals listed here. Overlaps with main Subsidy Tracker data: none.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.