| Company | About.com |
| Date Announced | 1/3/2000 |
| Site | 1440 Broadway |
| Total Subsidy | $4.2 million |
|
??? |
| Promised Job Creation | 2,893 |
| Promised Job Retention | ??? |
| Length of Contract | 15 years |
| Competing Sites | |
| Conditions | none |
| Notes | Web guide company About.com received $4 million in city sales tax breaks and $230,000 in discounted energy to remain in New York for 15 years, moving from East 42nd Street to the garment district. The company promised to add 2,893 employees in that time. About.com has also received a venture capital investment from the city-sponsored Prospect Street NYC Discovery fund, which was created in 1995 to stimulate the city's high-tech industry. |
| Corporate Notes | |
| Critics | |
| A note on sources -- or why
many of these profiles appear incomplete. They are. Good Jobs New York
compiled the numbers in these profiles from press releases and news accounts
of the deals. Unfortunately, more detailed information on these subsidies is
very difficult to obtain -- even though it should be readily available to the
public. In many cases, neither the company nor the city nor state released
certain information, particularly the terms of the agreement, i.e., the
conditions which the company had to meet in order to receive the subsidy. It
should also be noted that the value of the subsidy may not end up being equal
to the value estimated at the time of the agreement. And it should not be
assumed that the actual number of jobs retained and created will be the same
as the numbers predicted.
Because the public deserves easy access to information about how taxpayer dollars are being spent, Good Jobs New York will update these profiles as we uncover more information. Good Jobs New York - May 25, 2001 |
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