Deloitte asks city for $11M in tax credits to stay in NYC
July 29, 2010 09:30AM
World Financial Center
Accounting firm Deloitte -- one of the largest tenants on the market for office space in New York City -- has asked the city for at least $10.65 million in tax credits in exchange for staying on this side of the Hudson River and increasing its employee count, according to the Observer. The firm, which is currently headquartered at 1633 Broadway with offices at 25 Broadway and the World Financial Center, had been considering a move to New Jersey. If the city doesn't grant tax exemptions Deloitte wants -- the total sum requested could rise up to $21 million -- the firm is threatening to follow through with that interstate move. Last month, it was reported that Deloitte was renewing its 400,000-square-foot lease at Brookfield Properties' 4 World Financial Center. According to the firm's request to the city, it is still in the process of negotiating that lease, which will house its U.S. headquarters, and could thus back out if it deems New Jersey a better choice. [NYO]
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Comments
Anonymous
Didnt a (former) Big 8 firm do this before and won bigtime ? Jersey City is looking far better suited to absorb this now,,,make no mistake about that !
Comment #1 Posted By: Anonymous 07/29/10
Anonymous
But this does not qualify as extortion ? Right?
Comment #2 Posted By: Anonymous 07/29/10
Anonymous
why 2? you would rather they leave and tax ALL the taxpaying jobs with them? like all NYC firms, they are already over taxed.
Comment #3 Posted By: Anonymous 07/29/10
George Won and You Lost
Steinbrenner threatened to move the Yankees to New Jersey and look at the payoff there ! You, me, and everyone else who contibutes here owns a small piece ( owns or just pays for ?) of the new Yankee Stadium Mall.- The front looks more like a bank.
Comment #4 Posted By: George Won and You Lost 07/29/10
Anonymous
11 Million seems low,,,,very low. There must be a mistake there. Probably triple that.
Comment #5 Posted By: Anonymous 07/29/10
Anonymous
OK #3 you are right, they are already overtaxed!
Comment #6 Posted By: Anonymous 07/30/10