WASHINGTON: Bank sought tax breaks in NYC and was rejected then the Garden State stepped in New Jersey Lt. Gov. Kim Guadagno moved quickly to lure J.P. Morgan jobs across the Hudson after the bank’s request for tax breaks in New York City was rejected
New Jersey Lt. Gov. Kim Guadagno moved quickly to lure J.P. Morgan jobs across the Hudson after the bank’s request for tax breaks in New York City was rejected The deal Thursday to bring more than 2,000 bank jobs to New Jersey from New York City began last year with a phone call. Last fall, New York City Mayor Bill de Blasio rejected the entreaties of J.P. Morgan Chase & Co. to move its headquarters to the far West Side of Manhattan in exchange for hundreds of millions of dollars in tax breaks.
The Democratic mayor called the company’s subsidy request “a nonstarter.”On Thursday, the state Economic Development Authority awarded the bank the subsidy package to move 2,150 information-technology jobs to an office building in Jersey City.
