Subsidy Tracker Individual Entry

Company: 
Royal Bank of Scotland (RBS Greenwich Capital)
Parent Company: 
Royal Bank of Scotland
Subsidy Source: 
state
Location: 
Connecticut
City: 
Stamford
Project Description: 

North American headquarters for investment bank

Year: 
2005
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Subsidy Value: 
$100,000,000
Program Name: 
Urban and Industrial Site Reinvestment Tax Credit
Awarding Agency: 
Department of Economic and Community Development
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
1,150
Capital Investment: 
$400,000,000
Source of Data: 

The subsidy figure and the jobs and investment projections came from: Ritu Kalra, "Bank's Move May Bring Hundreds of Jobs to State," Hartford Courant, September 15, 2005.

Notes: 

The subsidy award, which was given to encourage the company to relocate from New York, was in the form of state Urban and Industrial Site Reinvestment Tax Credits. The Connecticut Development Authority also provided a sales tax exemption on construction materials, the value of which was not announced. Overlaps with main Subsidy Tracker data: full amount is also listed in a 2007 Urban and Industrial Site Reinvestment Tax Credit entry.

Source Notes: 
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