New Jersey Gives JPMorgan Chase & Co. $188 Million in Tax Incentives to Move 2,000 Jobs to Jersey City
The State of New Jersey has awarded JPMorgan Chase & Co. tax incentives of $188 Million over a decade to move 2,000 jobs to downtown Jersey City.
After seeking but failing to secure such subsidies in Manhattan, the banking titan was immediately courted by the Christie administration, who put together the roughly $19 million/year 10-year package.
Yesterday, the State announced that the jobs—mostly IT—will now be shifted over to New Jersey.
For more on the details behind the deal, visit WSJ.com.