Company: Goldman Sachs Parent Company: Goldman Sachs Subsidy Source: state Location: New Jersey City: Jersey City Project Description: investment bank trading and research offices Year: 2002 Major Industry of Parent: financial services Specific Industry of Parent: banking & securities Subsidy Value: $164,300,000 Program Name: Business Employment Incentive Program (BEIP) Awarding Agency: Economic Development Authority Type of Subsidy:
Number of Jobs or Training Slots: 2,000 Source of Data: The subsidy value and jobs projection came from: Richard Newman, "Next Stop, Jersey City; Goldman Sachs Moving Some Operations to New Complex," The Record, January 29, 2002. Notes: The 10-year BEIP award, given shortly after the 9/11 attack prompted many New York City companies to consider dispersing their operations, was based on the assumption that Goldman would relocate 2,000 employees from Manhattan. As of January 2013, about $93 million of the award had been disbursed. BEIP subsidies are grants based on the state withholding taxes paid by new employees. The BEIP award is also listed in the main Subsidy Tracker data. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.