New York City's Biggest Retention Deals
Sorted Alphabetically by Company

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Company

Date
Announced

Total  Subsidy

About.com 1/3/2000 $4.2 million
Agency.com 8/11/1999 $2.7 million
Ahava Dairy Products 1/27/2000 $6.0 million
Alexander & Alexander Services 11/20/1996 $3.4 million
Alrue Import Co./RENCO Manufacturing 10/4/2000 $1.6 million
American International Group (AIG) 11/12/1996 $58.9 million
American Stock Exchange 6/30/2004 (Project Start Date)  $10.3 million
Aon Service Corporation (special post 9/11 deal) 9/10/2002 $20.3 million
Arthur Andersen 12/4/2000 $4.5 million
Avon 8/8/1995 $6.7 million
Banco Popular 1/10/1997 $1.2 million
BankAmerica (first package - terminated 1998) 4/22/1993 $18.0 million
Bank of America (second package) 2/10/2004 $42.0 million
Bank of New York (special post 9/11 deal) 9/10/2002 $37.5 million
Barnes & Noble 4/17/1998 $2.1 million
Bear Stearns & Company (first package) 6/6/1991 $30.7 million
Bear Stearns & Company (second package) 8/27/1997 $75.0 million
Bertelsmann AG (first package) 3/1/1992 $10.7 million
Bertelsmann AG (second package) (never used) 6/5/1999 $28.0 million
BlackRock Financial Management 4/11/2000 $4.5 million
Bloomberg (renounced by mayor-elect Bloomberg 11/02) 5/8/2000 $14.0 million
Bronnercom (renamed Digitas) 11/22/1999 $1.7 million
Brown Brothers Harriman (special post 9/11 deal) 11/13/2001 $5.9 million
Canadian Imperial Bank of Commerce (CIBC) 3/1/2001 $16 million
Cantor Fitzgerald (first package) 4/13/1995 $1.4 million
Cantor Fitzgerald (second package) 1/29/1997 $2.0 million
Capital Cities/ABC Inc. 6/22/1994 $26.0 million
CBS (first package) 3/15/1993 $49.3 million
CBS (second package) 1/28/1999 $10.0 million
Chase Manhattan Bank (now J.P. Morgan Chase) 11/30/1988 $211.8 million
Citicorp (multiple recipient)

1989

$90.0 million
Conde Nast 5/8/1996 $10.8 million
Cotton Exchange and Coffee, Sugar and Cocoa Exchange (never used) 4/4/1996 $98.8 million
Credit Suisse First Boston 1/24/1995 $63.0 million
Depository Trust Co. 3/9/1995 $18.5 million
Dillon, Read & Co (terminated 1998, recapture payment made) 10/7/1996 $5.8 million
DoubleClick 2/2/1999 $3.7 million
Donaldson, Lufkin & Jenrette, Inc. 8/11/1994 $28.0 million
Empire Insurance Group (first package - see second) 10/11/1996 $8.7 million
Equitable Companies/Equitable Life Assurance Society 9/7/1995 $10.3 million
Ernst & Young 7/22/1999 DEAL NOT CLOSED YET Original offer: $18.0 million; current proposal: $14.5 million
Exco Noonan 8/15/1997 $6.3 million
Fahnestock & Company 5/20/1997 $1.6 million
Federated Department Stores, Inc. 2/14/2000 $2.3 million
Fidelity Investments/National Financial Services Corporation 10/8/1996 $3.6 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.) 2/12/2002 Savings on $145 million in discounted financing
Furman Selz 7/18/1997 $2.4 million
General Motors 2/21/1995 $1.4 million
Guardian Life Insurance Co. 1/13/1998 $11.5 million
Hearst Corporation 12/11/2002 $23.9 million
Hyde Park Fine Art of Mouldings 10/4/2000 $2.1 million
IBJ Schroder Bank & Trust 5/1/1997 $2.0 million
Information Builders, Inc. 3/11/1997 $4.9 million
ING Barings 4/8/1997 $7.5 million
Jupiter Communications 3/19/2000 $3.5 million
Kidder Peabody 10/30/1993 $31.0 million
Liz Claiborne 2/14/2000 $8.0 million
Madelaine Chocolate 3/19/1997 $3.2 million
Mana Products 4/8/1997 $1.2 million
McGraw-Hill/Standard & Poor's Corporation 4/24/1997 $52.5 million
Merrill Lynch 6/6/1997 $28.6 million
Met Life 5/30/2001 $20.8 million
Morgan Stanley 12/1/1993 $70.8 million
Murray Feiss Import Corp. 11/13/1998 $6.4 million
Mutual of New York (MONY) 4/30/1996 $5.7 million
NASDAQ/Amex 12/19/2000 $52.0 million
NBC (first package) 12/1/1988 $72.0 million
NBC (second package) 12/1/1996 $7.0 million
New York Board of Trade 4/4/1999 $31.0 million
New York Mercantile Exchange 8/4/1994 $183.9 million
New York Stock Exchange (terminated) 12/22/1998 $940.0 million
New York Times (first package) 12/22/1993 $28.7 million
New York Times (second package) 10/23/2001 $18.7 million
News America (first package) 6/19/1996 $20.7 million
News America/New York Post (second package) 7/20/1998 $24.4 million
NYLCare Health Plans 9/20/1995 $3.7 million
Oxygen Media 4/3/2000 $1.5 million
PaineWebber (multiple recipient) 11/13/1997 $14.5 million
Pfizer 6/10/2003 $47.5 million
P.O.P. Displays 11/13/1998 $2.0 million
Price Waterhouse 5/15/1997 $3.1 million
Prudential Securities 12/18/1992 $122.9 million
Quick and Reilly/Fleet Securities 1/16/2000 $4.8 million
Reed Elsevier 12/19/2000 $29.0 million
Republic National Bank (revoked) 5/19/1994 $6.4 million
Reuters 5/8/1998 $26.0 million
Rome Knitting Mills / Orbit Industries 6/8/2001 $2.0 million
Scient Corporation 4/21/2000 $2.8 million
SFX Entertainment 3/17/2000 $4.0 million
Spear Leeds and Kellogg 1/1/1994 $2.4 million
StarMedia 6/23/2000 $2.5 million
Supreme Chocolate 4/1/2000 $4.4 million
theGlobe.com 2/22/1999 $1.0 million
Time Warner Inc./Home Box Office (first package) 3/1/1999 $10.0 million
Time Warner Inc./Time Inc. (second package) 6/28/1999 $28.0 million
Travelers/Smith Barney (multiple recipient) 9/20/1995 $22.1 million
Tullett & Tokyo Forex 6/7/1995 $2.3 million
USWeb/CKS 10/25/1999 $3.0 million
Viacom Inc. (multiple recipient) 10/13/1994 $15.0 million
VNU USA 6/14/1999 $10.6 million
Ziff-Davis Publishing Company 11/14/1997 $4.3 million
Zurich Centre Group 10/1/1998 $5.8 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.

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.