Friday, October 16, 2009

Bloomberg's jobs retention program drops the ball

Above: Bloomberg fiddling with his money while the city bleeds jobs...

From the NY Post:

At a time when financial firms are stressed and vacancy levels are rising, the city has let 1,600 office jobs skip across the Hudson River.

New Jersey Gov. Jon Corzine gleefully made the official announcement yesterday that the Depository Trust and Clearing Corporation, the major clearing house for banks, will move most of its back office functions from 55 Water St. to the LeFrak-owned Newport Office Center in Jersey City.

The city's Economic Development Corp. declined to match New Jersey's $74.6 million in incentives over 10 years and another $11.8 million in Tax Incremental Financing for the LeFrak ownership.

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