| Company | BlackRock Financial Management |
| Date Announced | 4/11/2000 (deal closed 3/6/2000) |
| Project Site | 40 East 52nd Street, Manhattan |
| Competing Sites | ? |
| Maximum Subsidy | $4,507,850 |
|
$1,257,000 in sales tax retention benefits |
|
$850/employee to a cap of $2,879,000 in sales tax growth credits |
| Type(s) of City benefits |
Sales tax exemptions
-- Up to $4,136,000 Energy benefits (BIR program) -- $371,000 |
| Benefits from New York State | ? |
| Total Benefits Allowed | ? |
| Benefits Distributed to Date (according to LL69 Report FY 2002) | $847,000 |
| Promised Job Retention | 449 |
| Projected job growth | 1,880 |
| Total Promised Jobs | 2,329 |
| Jobs Reported in LL69 Report FY 2002 | 546 |
| Layoffs | ? |
| Length of Contract | 15 years |
| Project Purpose | |
| Clawbacks | ? |
| Background/Since then... | |
| Corporate Notes | BlackRock provides financial services including asset and risk management. |
| 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: 8/7/03 | |