| Company | Bronnercom (renamed Digitas) |
| Date Announced | 11/22/99 (deal closed 6/21/00) |
| Project Site | 345 Park Avenue South, Manhattan |
| Competing Sites | ? |
| Maximum Subsidy | $1,185,000 |
|
0 |
|
$3,300/employee to a cap of $820,000 |
| Type(s) of City benefits |
Sales tax abatement
-- $825,000 (10 years) Energy discounts (BIR program) -- $360,000 (15 years) |
| Benefits from New York State | Capital grant -- $500,000 from the Empire State Development Corporation |
| Total Benefits Allowed | $1,685,000 |
| Benefits Distributed to Date (according to LL69 Report FY 2002) | 0 |
| Promised Job Retention | 170 |
| Projected job growth | 330 |
| Total Promised Jobs | 500 |
| Jobs Reported in LL69 Report FY 2002 | 268 |
| Layoffs | In October 2001, Digitas layed off 350 people and closed its Hong Kong office. It is unclear if any of the layoffs came from its NYC offices. |
| Length of Contract | 15 years |
| Project Purpose | This subsidy was given in exchange for Bronnercom agreeing to expand in NYC and invest a promised $8.2 million in new office space and equipment. The deal was meant to retain 200 existing jobs and create 300 new ones at an average annual salary of $75,000. |
| Clawbacks | ? |
| Background/Since then... | In December 1999, before the subsidy deal was finalized, Bronnercom changed its name to Digitas. |
| Corporate Notes | Digitas Inc. provides strategic marketing and client-relationship improvement services to companies, particularly through use of the internet. Clients include Allstate, American Express, AT&T, Delta Air Lines and General Motors. |
| A note on sources -- Information in this deal comes from GJNY's examination of project agreements obtained through Freedom of Information Law requests, as well as news reports, minutes and notes taken at board meetings, and communication with our allies. The entries are a work in progress. For more information about the documentation behind GJNY's database, or to let us know about any developments that are not yet reflected here, please contact us at gjny@ctj.org or (212) 414-9394. | |
| Date last updated: 8/8/03 | |