Subsidy Tracker Individual Entry
banking back offices
The subsidy value and projected number of retained jobs came from: Thomas J. Lueck, "Chase, With $235 million Incentive Package, Picks Brooklyn," New York Times, November 10, 1988. Details on the components of the package came from: Know When to Fold 'Em: Time to Walk Away from NYC's Corporate Retention Game (Good Jobs New York, February 2004); online at http://goodjobsny.org/resources-tools/report-know-when-fold-%E2%80%99em-time-walk-away-nyc%E2%80%99s-corporate-retention-game
To get the company to remain in New York City rather than relocating to New Jersey, NYC gave the company property tax abatements worth an estimated $108 million; sales tax exemptions on construction materials worth an estimated $51 million; electricity discounts worth $35 million; $16 million in relocation tax credits; and the rest in infrastructure improvements. Overlaps with main Subsidy Tracker data: a $79.2 million NYC Commercial Growth Project entry for 1989.