Company Avon
Date Announced 8/8/1995
Site 1251 Avenue of the Americas
Total Subsidy $6.7 million

Amount tied to job creation

 $0.52 million
Promised Job Creation 165
Promised Job Retention 957
Length of Contract 17 years
Competing Sites Westchester County & Fairfield County, Conn.
Conditions "The benefits to be received by Avon in return for the retention of 957 jobs in Avon's Global and North American Business Units are subject to a seventeen year recapture based upon specific targets and schedules" (New York City Industrial Development Authority Bond Financing Proposal, IDA Board Meeting 8/8/95).
Notes In exchange for the cosmetics direct marketer's agreement to keep its global headquarters and U.S. Business Unit in New York City for the next 17 years, the city and state offered Avon the following incentives: $5 million in sales tax exemptions; energy discounts of $725,000; $522,000 in tax credits linked to job growth and $466,000 in real estate tax credits.
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