Subsidy Tracker Individual Entry
Company:
RBC Capital Markets
Parent Company:
Royal Bank of Canada
Subsidy Source:
state
Location:
New Jersey
City:
Jersey City
County:
Hudson
Project Description:
relocation of investment bank
Year:
2014
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking
Subsidy Value:
$78,750,000
Program Name:
Grow New Jersey Assistance Program
Awarding Agency:
New Jersey Economic Development Authority
Type of Subsidy:
MEGADEAL 
Number of Jobs or Training Slots:
900 new jobs
Source of Data:
The value of the subsidy package is taken from New Jersey Economic Development Authority Agenda, May 16, 2014; available online at: http://www.njeda.com/web/pdf/eda/agenda_051614.pdf. The job number is taken from Terrence McDonald, "Welcome: Here's your tax break," Jersey Journal, May 19, 2014.
Notes:
To encourage RBC Capital Markets, a Canadian investment bank, to relocate from New York City to Jersey City, the state approved $7,875,000 in tax credits per year for 10 years. Overlaps with main Subsidy Tracker data: a 2014 Grow New Jersey Assistance Program entry for RBC Capital Markets, LLC for $78,750,000.
Source Notes:
If an online information source is not working, check the Tracker inventory page for an updated link.
