New York City's Biggest Retention Deals
Sorted by Date

Note: Since 2004 there have been no new discretionary subsidy deals of the type commonly done during the Giuliani Administration. To learn about other New York City subsidies since 2004 see our research on rebuilding Lower Manhattan after the attacks of September 11, 2001 at http://www.goodjobsny.org/rec_news.htm or subsidies for baseball stadiums at http://www.goodjobsny.org/inside_baseball_preview.htm.

For more information contact Good Jobs New York at 212-721-4865 or gjny@ctj.org

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See table sorted by size or alphabetically by company
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Company Date Announced Total Subsidy
American Stock Exchange 6/30/2004 (Project Start Date)  $10.3 million
Bank of America (second package) 2/10/2004 $42.0 million
Pfizer 6/10/2003 $47.5 million
Hearst Corporation 12/11/2002 $23.9 million
Aon Service Corporation (post 9/11 retention deal) 9/10/2002 $20.3 million
Bank of New York (post 9/11 retention deal) 9/10/2002 $37.5 million
Forest City Hanson (development for the benefit of Bank of New York) 9/10/2002 $2.5 million plus Savings on $113.9 million in Liberty Bonds
Forest City Myrtle Associates (development for the benefit of Empire HealthChoice, Inc.) (post 9/11 retention deal) 2/12/2002 Savings on $145 million in discounted financing
Brown Brothers Harriman (post 9/11 retention deal) 11/13/2001 $5.9 million
New York Times (second package) 10/23/2001 $18.7 million
Rome Knitting Mills / Orbit Industries 6/8/2001 $2.0 million
Met Life 5/30/2001 $20.8 million
Canadian Imperial Bank of Commerce (CIBC) 3/1/2001 $16.0 million
NASDAQ/Amex 12/19/2000 $52.0 million
Reed Elsevier 12/19/2000 $29.0 million
Arthur Andersen 12/4/2000 $4.5 million
Alrue Import Co./RENCO Manufacturing 10/4/2000 $1.6 million
StarMedia 6/23/2000 $2.5 million
Bloomberg (renounced by mayor-elect Bloomberg 11/02) 5/8/2000 $14.0 million
Scient Corporation 4/21/2000 $2.8 million
BlackRock Financial Management 4/11/2000 $4.5 million
Oxygen Media 4/3/2000 $1.5 million
Supreme Chocolate 4/1/2000 $4.4 million
Jupiter Communications 3/19/2000 $3.5 million
SFX Entertainment 3/17/2000 $4.0 million
Federated Department Stores, Inc. 2/14/2000 $2.3 million
Liz Claiborne 2/14/2000 $8.0 million
Hyde Park Fine Art of Mouldings 2/4/2000 $2.1 million
Ahava Dairy Products 1/27/2000 $6.0 million
Quick and Reilly/Fleet Securities 1/16/2000 $4.8 million
About.com 1/3/2000 $4.2 million
Bronnercom (renamed Digitas) 11/22/1999 $1.7 million
USWeb/CKS 10/25/1999 $3.0 million
Agency.com 8/11/1999 $2.7 million
Ernst & Young 7/22/1999 DEAL NOT CLOSED YET Original offer: $18.0 million; current proposal: $14.5 million
Time Warner Inc./Time Inc. (second package) 6/28/1999 $28.0 million
VNU USA Company 6/14/1999 $10.6 million
New York Board of Trade 4/4/1999 $31.0 million
Time Warner Inc./Home Box Office (first package) 3/1/1999 $10.0 million
theGlobe.com 2/22/1999 $1.0 million
DoubleClick 2/2/1999 $3.7 million
CBS (second package) 1/28/1999 $10.0 million
Bertelsmann AG (second package) (never used) 1/1/1999 $28.0 million
New York Stock Exchange (terminated) 12/22/1998 $940.0 million
P.O.P. Displays 11/13/1998 $2.0 million
Murray Feiss Import Corp. 11/13/1998 $6.4 million
Zurich Centre Group 10/1/1998 $5.8 million
News America/New York Post (second package) 7/20/1998 $24.4 million
Reuters 5/8/1998 $26 million
Barnes & Noble 4/17/1998 $2.1 million
Guardian Life Insurance Co. 1/13/1998 $11.5 million
Ziff-Davis Publishing Company 11/14/1997 $4.3 million
PaineWebber (multiple recipient) 11/13/1997 $14.5 million
Bear Stearns & Company (second package) 8/27/1997 $75.0 million
Exco Noonan 8/15/1997 $6.3 million
Furman Selz 7/18/1997 $2.4 million
Merrill Lynch 6/6/1997 $28.6 million
Fahnestock & Company 5/20/1997 $1.6 million
Price Waterhouse 5/15/1997 $3.1 million
IBJ Schroder Bank & Trust 5/1/1997 $2.0 million
McGraw-Hill/Standard & Poor's Corporation 4/24/1997 $52.5 million
ING Barings 4/8/1997 $7.5 million
Mana Products 4/8/1997 $1.2 million
Madelaine Chocolate 3/19/1997 $3.2 million
Information Builders, Inc. 3/11/1997 $4.9 million
Cantor Fitzgerald (second package) 1/29/1997 $2.0 million
Banco Popular 1/10/1997 $1.2 million
Alexander & Alexander Services 11/20/1996 $3.4 million
American International Group (AIG) 11/12/1996 $58.9 million
Empire Insurance Group (first package - see second) 10/11/1996 $8.7 million
Fidelity Investments/National Financial Services Corporation 10/8/1996 $3.6 million
Dillon, Read & Co (terminated 1998, recapture payment made) 10/7/1996 $5.8 million
News America (first package) 6/19/1996 $20.7 million
NBC (second package) 12/1/1996 $7.0 million
Conde Nast 5/8/1996 $10.8 million
Mutual of New York (MONY) 4/30/1996 $5.7 million
Cotton Exchange and Coffee, Sugar and Cocoa Exchange (never used) 4/4/1996 $98.8 million
NYLCare Health Plans 9/20/1995 $3.7 million
Travelers/Smith Barney (multiple recipient) 9/20/1995 $22.1 million
Equitable Companies/Equitable Life Assurance Society 9/7/1995 $10.3 million
Avon 8/8/1995 $6.7 million
Tullett & Tokyo Forex 6/7/1995 $2.3 million
Cantor Fitzgerald (first package) 4/13/1995 $1.4 million
Depository Trust Co. 3/9/1995 $18.5 million
General Motors 2/21/1995 $1.4 million
Credit Suisse First Boston 1/24/1995 $63.0 million
Viacom Inc. (multiple recipient) 10/13/1994 $15.0 million
Donaldson, Lufkin & Jenrette, Inc. 8/11/1994 $28.0 million
New York Mercantile Exchange 8/4/1994 $183.9 million
Capital Cities/ABC Inc. 6/22/1994 $26.0 million
Republic National Bank (revoked) 5/19/1994 $6.4 million
Spear Leeds and Kellogg 1/1/1994 $2.4 million
New York Times (first package) 12/22/1993 $28.7 million
Morgan Stanley 12/1/1993 $70.8 million
Kidder Peabody 10/30/1993 $31.0 million
BankAmerica (first package - terminated 1998) 4/22/1993 $18.0 million
CBS (first package) 3/15/1993 $49.3 million
Prudential Securities 12/18/1992 $122.9 million
Bertelsmann AG (first package) 3/1/1992 $10.7 million
Bear Stearns & Company (first package) 6/6/1991 $30.7 million
Citicorp (multiple recipient) 1989 $90.0 million
NBC (first package) 12/1/1988 $72.0 million
Chase Manhattan Bank (now J.P. Morgan Chase) 11/30/1988 $211.8 million

Note: Corporations often benefit from more than one round of public subsidies. In some cases, a company receives subsidies (its "first package") and then returns to the well for more (a "second package"). In other cases, a corporation that's already receiving subsidies buys or merges with another subsidy recipient, making the merged company a "multiple recipient." Other "multiple recipients" are corporations that have merged with subsidy recipients - and then received subsidies as a merged company.