Subsidy Tracker Individual Entry

Company: 
Prudential Financial
Parent Company: 
Prudential Financial
Subsidy Source: 
state
Location: 
New Jersey
City: 
Newark
Project Description: 

headquarters relocation

Year: 
2012
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
insurance
Subsidy Value: 
$210,828,357
Program Name: 
Urban Transit Hub Tax Credit Program
Awarding Agency: 
Economic Development Authority
Type of Subsidy: 
MEGADEAL
Capital Investment: 
$444,000,000
Source of Data: 

The subsidy value and investment projection were reported in: Ed Beeson, "Prudential gets $211M tax credit," Newark Star-Ledger, June 2, 2012. The subsidy amount is also listed in the Urban Transit Hub Tax Credit Activity Report; online at http://www.njeda.com/web/pdf/HUB_Activity.pdf

Notes: 

The value of the credit was reduced from the original figure of $250.8 million after the company changed the site for the short-distance relocation. 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.