Company: JP Morgan Chase Bank Parent Company: JPMorgan Chase Subsidy Source: state Location: New Jersey City: Jersey City County: Hudson Project Description: retention and expansion of the bank's operations hub Year: 2014 Major Industry of Parent: financial services Specific Industry of Parent: banking & securities Subsidy Value: $224,835,000 Program Name: Grow New Jersey Assistance Program Awarding Agency: New Jersey Economic Development Authority Type of Subsidy:
Capital Investment: $76,000,000 Source of Data: The value of the subsidy package is taken from New Jersey Economic Development Authority Agenda, May 16, 2014; available online at: (click here). Jobs and investment figures are taken from a May 16, 2014 New Jersey Economic Development Authority press release; available online at: (click here). See also: Terrance McDonald, "Welcome: Here's your tax break," Jersey Journal, May 19, 2014. Notes: To retain JP Morgan Chase in New Jersey, the state awarded the company $22,483,500 in tax credits per year for 10 years. JP Morgan Chase qualified as a "mega project" and was eligible for an award of $5,000 per employer, plus bonuses; the total value of this subsidy has not been reported and thus is not included in the total. Overlaps with main Subsidy Tracker data: a 2014 New Jersey Economic Development Authority entry for $224,835,000. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.