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MegadealsSubsidy Tracker Individual Entry
Company: Harbor Point Development Group
Parent Company:
JPMorgan Chase
Subsidy Source: local
Location: Maryland
City: Baltimore
County: Baltimore City
Project Description: mixed-use development
Year: 2013
Major Industry of Parent: financial services
Specific Industry of Parent: banking & securities
Subsidy Value: $107,000,000
Subsidy Value in 2023 Dollars: $140,570,468
Program Name: tax increment financing
Awarding Agency: Baltimore Board of Finance
Type of Subsidy:
MEGADEAL
![Megadeal is the designation we give to our list of subsidy awards worth at least $50 million going back as far as the late 1970s (in January 2024, we increased the threshold from $50 million to $100 million). Many of them are packages involving multiple state and local subsidies. We created the list to fill gaps in the official disclosure data that make up the bulk of the content in Subsidy Tracker. Megadeal entries thus rely on a wide variety of information sources. In some cases these entries overlap entries from specific subsidy programs. In those instances the dollar totals on the Parent Summary Pages and the State Summary Pages are adjusted to avoid double-counting.](https://subsidytracker.goodjobsfirst.org/resources/images/qmark.gif)
Capital Investment: $1,000,000,000
Source of Data: The subsidy value and investment projection came from: Luke Broadwater, "Harbor Point to get city financing," Baltimore Sun, May 21, 2013.
Notes: Baltimore awarded Harbor Point Development Group, controlled by Michael Beatty, $107 million in TIF funds for infrastructure costs at a massive waterfront development that will include the regional headquarters of Exelon Corp. and other structures. Portions of the project are included in the Baltimore Enterprise Zone listings in the main Subsidy Tracker data but without dollar amounts. In December 2013 a subsidiary of JPMorgan Chase purchased a 90 percent stake in the project.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.