Subsidy 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: 
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