| Company | theGlobe.com |
| Date Announced | 2/22/1999 |
| Site | 120 Broadway |
| Total Subsidy | $1 million |
|
??? |
| Promised Job Creation | ??? |
| Promised Job Retention | ??? |
| Length of Contract | ??? |
| Competing Sites | none |
| Conditions | theGlobe.com must create an unknown number of new jobs over the next 15 years |
| Notes | The city put together a package of tax breaks and electricity discounts to persuade the internet community company theGlobe.com to stay in New York and locate at 120 Broadway in lower Manhattan. Dean Daniels, Chief Operating Officer of theGlobe.com, underscores why few new media companies really want to move to New Jersey: "The talent pool in New York is one of the compelling reasons to stay in the city" (Crain's New York Business, 2/22/99). |
| 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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