| Company | Arthur Andersen |
| Date Announced | 12/4/2000 |
| Site | Times Square |
| Total Subsidy | $4.5 million |
|
??? |
| Promised Job Creation | ??? |
| Promised Job Retention | 3,000 |
| Length of Contract | ??? |
| Competing Sites | Roseland, N.J. |
| Conditions | none |
| Notes | Arthur Andersen signed a lease with Boston Properties which is developing a 47 story, $600 million skysraper at the south end of Times Square. Arthur Andersen is to receive 500,000 square feet of the 1.2 million square foot tower. |
| Corporate Notes | Arthur Andersen is the world's largest accounting and consulting firm with over $8 billion in revenue in 2000. |
| Critics | Since Times Square is one of the most sought-after locations in New York City, some officials have questioned the wisdom of providing subsidies to the company. |
| 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 |
|