Subsidy Tracker Individual Entry
retention and expansion of the bank's operations hub
The value of the subsidy package is taken from New Jersey Economic Development Authority Agenda, May 16, 2014; available online at: http://www.njeda.com/web/pdf/eda/agenda_051614.pdf. Jobs and investment figures are taken from a May 16, 2014 New Jersey Economic Development Authority press release; available online at: http://www.njeda.com/web/Aspx_pg/Templates/Press_Rls.aspx?topid=721&Doc_.... See also: Terrance McDonald, "Welcome: Here's your tax break," Jersey Journal, May 19, 2014.
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.