Company: Pearson Parent Company: Pearson Subsidy Source: multiple Location: New Jersey City: Hoboken Project Description: publishing company offices Year: 2011 Major Industry of Parent: information technology Specific Industry of Parent: information services; media Subsidy Value: $82,500,000 Program Name: Urban Transit Hub Tax Credit Program Awarding Agency: Economic Development Authority Type of Subsidy:
Number of Jobs or Training Slots: 650 Source of Data: The value of the subsidy and the job projection came from: Andrew Kitchenman, "EDA awards Pearson $82.5M in Hoboken move," NJBIZ, September 19, 2011. Notes: The tax credit was offered in connection with the relocation of Pearson's operations in Upper Saddle River, NJ. Shortly after the award of the subsidy, Pearson announced that about half of the jobs from Upper Saddle River would actually go to New York City, which offered the company at least $13.5 million in subsidies; see (click here) The Urban Transit Hub Tax Credit is also listed in the main Subsidy Tracker data for that program. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.