| Company | Cantor Fitzgerald (second package) Click here for first package |
| Date Announced | 1/29/1997 |
| Site | 1 World Trade Center |
| Total Subsidy | $2 million |
|
??? |
| Promised Job Creation | ??? |
| Promised Job Retention | ??? |
| Length of Contract | ??? |
| Competing Sites | Jersey City |
| Conditions | none |
| Notes | In 1995 brokerage firm Cantor Fitzgerald received a package worth $1.4 million to keep 958 jobs in the city and add another 473 jobs over the next 15 years. A mere two years later, after flirting with New Jersey, the company again agreed to expand in New York after being offered a package worth $2 million. At the time of this second deal, Cantor's employment at 1 World Trade was about 1,000--scarcely higher than employment at the time of the first deal! |
| 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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