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These companies were looking at sites in other states with more favorable tax codes and operating costs.
If they DID move, you guys would be complaining and blaming Christie for the loss of jobs.
To some people, Christie can't win no matter what he does.
And once again you & manderly are wrong!
The state approved up to $250 million in tax credits last year for Prudential, Newark’s most important corporate citizen, to build a new office tower. The company acknowledged that the jobs were not “at risk” of leaving the state and that renewing its leases at three buildings in the nearby Gateway complex were the “low-cost options by a wide margin when compared to the cost of new construction.”
The $250.8 million in tax credits, however, made the office tower project possible. In return, Prudential claimed it would create 400 new jobs, including 100 coming from outside New Jersey. The other new jobs were based on the company’s past growth patterns, which presumably would occur at either location.
The state approved up to $250 million in tax credits last year for Prudential, Newark’s most important corporate citizen, to build a new office tower. The company acknowledged that the jobs were not “at risk” of leaving the state and that renewing its leases at three buildings in the nearby Gateway complex were the “low-cost options by a wide margin when compared to the cost of new construction.”
The $250.8 million in tax credits, however, made the office tower project possible. In return, Prudential claimed it would create 400 new jobs, including 100 coming from outside New Jersey. The other new jobs were based on the company’s past growth patterns, which presumably would occur at either location.
And once again, you are misrepresenting the facts. The other two companies were indeed looking at other states. Do I really need to search for the articles?
And once again, you are misrepresenting the facts. The other two companies were indeed looking at other states. Do I really need to search for the articles?
It's nice to back up arguments with evidence...especially for Christie lovers.
It's nice to back up arguments with evidence...especially for Christie lovers.
OK. Read your own article. It says it right there, at least regarding Panasonic.
Quote:
Panasonic of North America’s chairman, Joseph M. Taylor, said, “Absent the tax incentives, Jersey wouldn’t have been an option."
Keep in mind, when these companies move to another state, we lose ALL the corporate tax AND ALL the income tax from the people that work for them. From a business standpoint, it makes sense to try to keep them here.
I laughed at the headline which is all too common when you're dealing with corporate welfare and "threats of moving":
New Jersey Offers Goya $80 Million to Create Nine New Jobs
However, we are also stealing jobs from NY and keeping jobs here that might otherwise leave. And what is the cost? It's not like we are shelling out $80 Million. It is just money that we are not getting, but as I said, if they move, we lose that AND A WHOLE LOT MORE. From a business standpoint it is the right move.
The state approved up to $250 million in tax credits last year for Prudential, Newark’s most important corporate citizen, to build a new office tower. The company acknowledged that the jobs were not “at risk” of leaving the state and that renewing its leases at three buildings in the nearby Gateway complex were the “low-cost options by a wide margin when compared to the cost of new construction.”
The $250.8 million in tax credits, however, made the office tower project possible. In return, Prudential claimed it would create 400 new jobs, including 100 coming from outside New Jersey. The other new jobs were based on the company’s past growth patterns, which presumably would occur at either location.
Location: The place where the road & the sky collide
23,814 posts, read 34,684,299 times
Reputation: 10256
Quote:
Originally Posted by manderly6
You should read what is posted more closely. The post was not about Prudential.
It said this.
The state approved up to $250 million in tax credits last year for Prudential, Newark’s most important corporate citizen, to build a new office tower. The company acknowledged that the jobs were not “at risk” of leaving the state and that renewing its leases at three buildings in the nearby Gateway complex were the “low-cost options by a wide margin when compared to the cost of new construction.”
The $250.8 million in tax credits, however, made the office tower project possible. In return, Prudential claimed it would create 400 new jobs, including 100 coming from outside New Jersey. The other new jobs were based on the company’s past growth patterns, which presumably would occur at either location.
The state approved up to $250 million in tax credits last year for Prudential, Newark’s most important corporate citizen, to build a new office tower. The company acknowledged that the jobs were not “at risk” of leaving the state and that renewing its leases at three buildings in the nearby Gateway complex were the “low-cost options by a wide margin when compared to the cost of new construction.”
The $250.8 million in tax credits, however, made the office tower project possible. In return, Prudential claimed it would create 400 new jobs, including 100 coming from outside New Jersey. The other new jobs were based on the company’s past growth patterns, which presumably would occur at either location.
I know what you said. But if you go back and read what I responded to it had nothing to do with Prudential.
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