Tax breaks working to bring new jobs?

From the Star Ledger:

JP Morgan moving 2,150 jobs to Jersey City, report says

JP Morgan Chase has formally decided to relocate 2,150 jobs from Manhattan to an office building here, according to reporting by The Wall Street Journal Wednesday.

Last month, state officials agreed to tax breaks of $188 million over 10 years to persuade the financial firm to expand its existing operations in Jersey City, which will now bring the total number of Morgan employees to about 7,000. The firm had been considering locations in Delaware and Ohio, NJ Advance Media reported in July.

The tax breaks were a significant factor in the bank’s decision to bring the jobs to New Jersey instead of the other states, where JP Morgan also has facilities.

The new employees would have a median salary of $164,000, according to the EDA analysis. The move is expected to generate more than $665 million for the state over 20 years, the report also said.

This entry was posted in Economics, Employment, New Jersey Real Estate, NYC. Bookmark the permalink.

64 Responses to Tax breaks working to bring new jobs?

  1. juice Box says:

    First,

    Top of the morning to ya…

  2. anon (the good one) says:

    @TheStalwart:

    92-year old woman registers to vote for the first time just so she can vote for Trump.

    “92-year-old Beada Corum says she has never voted before in her life… but that is about to change because of one 2016 presidential candidate- Donald Trump.

    In an interview on FOX Business Network’s The Intelligence Report with Trish Regan, Corum was introduced to the candidate for the first time ever, after his candid comments on America’s economy convinced her that he’d make a great president.”

  3. The Great Pumpkin says:

    Bystander, you sure these are crappy back office jobs? The median is 164,000 based on 7,000 employees. I wouldn’t exactly call that crappy jobs.

    “The new employees would have a median salary of $164,000, according to the EDA analysis. The move is expected to generate more than $665 million for the state over 20 years, the report also said.”

  4. Wow. Able to catch myself up on three days of posts in 45 seconds.

    Just skip past the Punkin/Anon drivel. Which eliminates a lot.

    You can feel the toxicity through the computer screen.

    Stupid is contagious (sorry, Mr. Cobain).

  5. If Trump is elected prezident, we will have the gubmint we so richly deserve.

    I, for one, have no problem with this. All part of the inevitable collapse of Western Civilization.

  6. If Trump is prezident, I want him to walk through a gauntlet of tall, vacant bleach blondes in miniskirts at all state events. There’s a distinctly Third World feel to the way he enters a room.

  7. Trump should fill the White House with hundreds of these vacant blondes and call them all his ‘personal advisers’.

    The only difference between Trump and Qadaffi is access to military-grade weaponry.

  8. grim says:

    Looking forward to the Trump name licensing deal for the White House.

  9. grim says:

    National Mall would make a great private golf club.

  10. grim says:

    Shut down Camp David and move the presidential retreat to the Taj

  11. A Home Buyer says:

    Troll,

    I am still tingling with anticipation about the measures you plan to take to make Africa safe for Lions of all walks of life.

    That, and the analysis of public pensions using your Financial Analyst skill set.

  12. nwnj says:

    On the other side imagine the limitless graft the Clintons can peddle if they get back in the oval office. The whole bogus Clinton personal slush fund can be formalized, maybe they can just auction off legislation in the name of “charity” rather than running it through all of their covert accounts.

  13. FKA 2010 Buyers says:

    I can’t wait to view tonight’s roast of the GOP. Should be very entertaining, my personal favorites..

    49 things to look for while watching the Republican debate
    1. Who will lob the first attack, and who will be the recipient of it?
    2. Who will attack Donald Trump first?
    3. Who will be the most ignored debate participant?
    4. Will Trump articulate a detailed policy on anything?

    http://www.washingtonpost.com/blogs/post-partisan/wp/2015/08/03/49-things-to-look-for-while-watching-the-republican-debate/

  14. Comrade Nom Deplume, Not a Philadelphian says:

    [9] grim

    “grim says:
    August 6, 2015 at 8:35 am
    National Mall would make a great private golf club.”

    Only if he replaced the turf. Or rather placed turf. The Mall is all dirt and weeds–I got enough scrapes there playing football and softball; its like playing on pavement.

  15. Comrade Nom Deplume, Not a Philadelphian says:

    [2] a-none

    That wasn’t a very good tweet from you. Not nearly idiotic enough. I think someone hijacked your sock.

    Prove you’re the real anon. Say something ludicrous.

  16. FKA 2010 Buyers says:

    Re: Yesterday’s Lion convo

    I always find it interesting when people like to down play outrage on whatever the latest topic is simply because it’s something that has been going on for years. As if presenting it in that manner, makes it’s ok.

    I would rather you say you are ok with killing animals for sport as opposed to pointing out that it’s been going on for years.

    The outrage is because some people have been ignorant or uninformed about topics and this is the first time they are hearing about.

  17. Comrade Nom Deplume, Not a Philadelphian says:

    [16] fka

    I’m okay with it provided it is legal where it occurs

  18. FKA 2010 Buyers says:

    Wonder why Fuld didn’t want to use Bush’s privilege card? I mean you were already paying him to attend meetings, at least he could have made a call on your behalf.

    How Jeb Bush Spent His Years on Wall Street

    For more than seven years, nearly the length of his two gubernatorial terms, Mr. Bush, a candidate for the Republican presidential nomination, spent as much as half of his working hours advising Lehman and later Barclays, BCS -0.09 % which bought the collapsed investment bank’s U.S. business. He wasn’t an employee of the firms, said people familiar with the matter, but was paid to attend meetings, dinners and conferences where he spoke to clients and bank executives on such subjects as health care, education, immigration and energy—matters he has started taking up this year with voters.

    Mr. Bush earned about $1.3 million a year at Lehman and some $2 million from Barclays, his campaign said.

    http://www.wsj.com/articles/how-jeb-bush-spent-his-years-on-wall-street-1438741822

  19. FKA 2010 Buyers says:

    [17 Comrade

    Can respect that stance coming from a lawyer. LOL

    Not sure because I’ve never been but I think in some countries in Asia you can have relations with kids. Not sure if it’s legal or maybe its not enforced…or for that matter if they have a concept of “underaged”…. I wouldn’t be ok with it legal or not.

  20. joyce says:

    Hunting for sport or any activity?

    Comrade Nom Deplume, Not a Philadelphian says:
    August 6, 2015 at 9:49 am
    [16] fka

    I’m okay with it provided it is legal where it occurs

  21. leftwing says:

    Punkin, from yesterday:

    “Lefty, go live in a state that you love. You don’t appreciate what nj’s wealth concentration brings to the table. It’s nothing special, yet you have made a career of making money of these people. Leave the state and let someone else that appreciates jersey make the money”

    Got me all wrong punkin. I total appreciate the *New York City* metropolitan region’s wealth concentration of which part of NJ is a beneficiary.

    I don’t kid myself that there is something so different in NJ absent its proximity to NYC. I think many here on the board have established that unless one has proximity to NYC much of the rest of NJ (WNW of 287, southern counties) can be WV.

    I’m pretty cleared eyed. That I don’t have sepia toned heartstrings for the NJ side of the Tappan Zee seems to bother you.

    The fact is I very much appreciate the wealth in the NYC metro area. So much so that my goal actually is not to get out and leave it behind but to arbitrage it. That is, to have a business that takes revenue from this area without requiring me to be actively present here. Some industries work, others don’t. But we are very much on the same page on that topic: I want to tap into the wealth of this area as much as I can to maximize the top line while concurrently living primarily elsewhere with a (subjectively) better quality of life and much lower expense base. No different than your retired cop taking his (relatively) high pension to FL, just ideally with an extra zero on the end.

  22. Bystander says:

    No, blumpkinhead, they are technology jobs according to Bloomberg. The back office moved to Delaware already. Probably directors and VPs who have to work with Mumbai team to get any actual development accomplished. A good win for JC but we shall see if NJ makes out on that tax break. My bet is that these jobs stay max of 6 years then move elsewhere. Banks can quickly transition workers on a flip and often do now. I’ve seen entire data centers open in Salt Lake, as a long term strategic plan, then close down within a few years. Nothing is concrete anymore. We are all short term wh*res to people in command.

  23. A Home Buyer says:

    16 – FKA

    I live a very sheltered life by comparison to my peers. I do not have Cable. I was never really allowed to watch TV growing up. I get my news through Google News.

    But I would argue that most know that large mammals in Africa have been hunted into oblivion. Every other month a news article comes out about a species dwindling population, or how the Asian black market for exotic animal parts is booming, or how Climate Change is destroying entire ecosystems. Even Microsoft was advertising how their software is being installed on autonomous drones to help wild life experts track movements and catch poachers. This isn’t exactly a hidden secret if you process any of what a person is subjected to on a daily basis.

    Time changes perhaps, but lets not pretend this “awakening” to the fact that a Lion in Africa was poached in a most terrible and unsportsmanlike like way is going to get anyone off their sofa’s in revolt. The 1st American Twitter Brigade will send out their declaration of war and then move on to what Caitlyn was wearing to her latest award show. They will feel glorious that they saved the Lion population single handily.

    This issue will be dead in 2 weeks.

  24. Ben says:

    He wasn’t an employee of the firms, said people familiar with the matter, but was paid to attend meetings, dinners and conferences where he spoke to clients and bank executives on such subjects as health care, education, immigration and energy—matters he has started taking up this year with voters.

    Mr. Bush earned about $1.3 million a year at Lehman and some $2 million from Barclays, his campaign

    Sounds likes the older male version of Chelsea Clinton.

  25. A Home Buyer says:

    23 – Continued.

    And assuming it somehow does take flight. What is the United States going to do? Invade Zimbabwe, establish an interim government and make poaching extra illegal?

    Declare war against any country who sells black market furs or animal parts?

    Try in court and throw its own citizens in jail for violating another countries laws? (not assuming extradition here)

    Make importing endangered species furs or parts an extra illegal crime?

    So your outraged… what do you want to do about it?

  26. grim says:

    PETA is calling for the hunter to be hanged. Zimbabwean politicians are accusing the United States of staging Cecil’s killing as a “ploy” to make our country look bad. And Americans who can’t find Zimbabwe on a map are applauding the nation’s demand for the extradition of the dentist, unaware that a baby elephant was reportedly slaughtered for our president’s most recent birthday banquet.

  27. grim says:

    How about being outraged over this?

    http://www.washingtonpost.com/news/morning-mix/wp/2015/03/02/zimbabwes-mugabe-condemns-white-safaris-eats-baby-elephant-at-lavish-birthday-bash/

    When considering what to get Robert Mugabe for his birthday, one first must understand that Zimbabwe’s president is a man who demands the finest.

    His birthday parties don’t cost hundreds of thousands; they cost millions. His parties aren’t attended by thousands, but by tens of thousands. And they don’t eat elephant; they eat baby elephant.

    This was the predicament in which one local landowner named Tendai Musasa found himself when figuring out what he would get Mugabe for his 91st birthday party, which cost $1 million and was held this past weekend. “We regard him as our father,” Musasa said to the Los Angeles Times of a leader who has been in power for 35 years and is widely criticized for his human rights record, disastrous economic policies and impoverished citizenry. “Our provider, our hero. We regard him as a very courageous man.”

    For such a courageous man, who years ago instituted violent and contentious land-redistribution policies, Musasa would bring out the big guns. He would kill a baby elephant.

    The elephant wasn’t enough, though. Musasa also submitted for mass consumption two buffaloes, two sables and five impalas. Then there was the lion, shot and mounted. And the crocodile, shot and mounted.

  28. Alex says:

    WSJ:Cord cutting weighs on Pay-TV

    People are getting rid of cable TV in droves. They’re tired of the high costs, excessive commercials, poor service, and lousy programs.

  29. grim says:

    This was published March 2nd of this year.

    There was no outrage. No twitter trending. No extradition. No threats of hanging.

    My commentary has nothing to do with animals and hunting, and everything to do with a social dynamic that I feel is becoming incredibly dangerous to us all. Fauxrage. Media manipulation has reached a whole new level. We’re worried about lions being slaughtered, when we’re the sheep being slaughtered.

  30. grim says:

    And then you have this nonsense:

    http://www.winknews.com/2015/08/04/vandals-strike-marco-home-of-dentist-involved-in-lion-hunting-scandal/

    The vacation home of the Minnesota dentist involved in a lion hunting scandal has been vandalized.

    Walter Palmer’s Marco Island home was spray painted with the words “lion killer” sometime Tuesday morning.

    Animal crackers in cups were scattered along the lawn and pigs feet were thrown on the driveway.

  31. grim says:

    PIGS FEET???????????????? THE F*CKING IDIOTS THREW DISMEMBERED PARTS OF ANIMALS THAT WERE KILLED ON WALTER PALMERS DRIVEWAY TO PROTEST THE KILLING AND DISMEMBERMENT OF AN ANIMAL?!?!??!?

  32. grim says:

    And we’d be idiots to extradite Palmer into dictator Mugabe’s hands. He has no chance at a fair trial, he’ll be shot and hung, and it wouldn’t have anything to do with killing a lion.

  33. Libturd in Union says:

    “92-year old woman registers to vote for the first time just so she can vote for Trump.”

    Don’t worry Anon, she’ll probably croak before the election and will then somehow vote for the Democrat.

  34. Comrade Nom Deplume, Not a Philadelphian says:

    Grim,

    I’ve met PETA types. Absolute loons. And if you want some local flavor, google the SHAC case in Federal district court in Trenton in 2006. I had a ringside seat for that circus.

    I’m sure they would have moved for mistrial if the saw the court clerks coffee mug.

  35. Anybody here got a good impala recipe?

  36. grim says:

    36 – Surprised they didn’t sacrifice a virgin too

  37. grim (37)-

    Press secretary prolly tells Mugabe to keep the virgin sacrifice on the down low.

  38. xolepa says:

    (36) my 1968 Impala had a good recipe for rust

  39. nwnj says:

    Mugabe should be executed for his crimes against humanity. I think he’s one of the lowest human beings we have to tolerate. With that said I think you could argue that killing and eating the animals is defensible from an ethical standpoint.

    I have a much harder time defending wanton destruction so someone with a little loose change in their pocket can stroke their ego. I’m not sure I can identify the redeeming value in that and especially if they’re breaking the law to do it.

    If this dentist crossed his t’s and dotted his i’s why hadn’t he come forward to defend himself?

  40. The Great Pumpkin says:

    This disgusts me from top to bottom. I’m especially disgusted that in an impoverished nation, the leader is throwing million dollar parties.

    No matter where you go, you have tons of people idolizing the elite like they are some kind of gods. Like they are doing something good for you. We have the fast eddies and jj’s thanking the 1% here, so we are no different. I will never worship the people at the top, they are all scumbags who only care about themselves. Give me Bernie!!

    When I was younger in history classes, I would question why peasants would worship the kings. Why would they give away most of the food they had grown to the king. Why would they send their young to war for the king that was taking advantage of them. Why? Nothing has changed, just the titles and the names.

    grim says:
    August 6, 2015 at 10:55 am
    How about being outraged over this?

    http://www.washingtonpost.com/news/morning-mix/wp/2015/03/02/zimbabwes-mugabe-condemns-white-safaris-eats-baby-elephant-at-lavish-birthday-bash/

    When considering what to get Robert Mugabe for his birthday, one first must understand that Zimbabwe’s president is a man who demands the finest.

    His birthday parties don’t cost hundreds of thousands; they cost millions. His parties aren’t attended by thousands, but by tens of thousands. And they don’t eat elephant; they eat baby elephant.

    This was the predicament in which one local landowner named Tendai Musasa found himself when figuring out what he would get Mugabe for his 91st birthday party, which cost $1 million and was held this past weekend. “We regard him as our father,” Musasa said to the Los Angeles Times of a leader who has been in power for 35 years and is widely criticized for his human rights record, disastrous economic policies and impoverished citizenry. “Our provider, our hero. We regard him as a very courageous man.”

    For such a courageous man, who years ago instituted violent and contentious land-redistribution policies, Musasa would bring out the big guns. He would kill a baby elephant.

    The elephant wasn’t enough, though. Musasa also submitted for mass consumption two buffaloes, two sables and five impalas. Then there was the lion, shot and mounted. And the crocodile, shot and mounted.

  41. Banco Popular Trust Preferred Shares says:

    I think clot changed his last name……it was originally Reeves Musasa….

  42. grim says:

    Americans may be shocked to find out that organized/tourist big-game “hunts” go on within the US as well.

  43. nwnj says:

    Grim, I wouldn’t waste your breath defending his lowlife. This is the same fvcking jerk who was baiting and poaching bears in Wisconsin on protected land. He was prosecuted federally for that.

    If you hunt ethically and consume the animal that you kill, I have no problem with that. When you’re bating and poaching animals purely for bragging rights, then I got a big problem with it.

    Send this dirtbag back to Zimbabwe and lets see how big his cajones really are.

  44. JJ says:

    http://graphics10.nytimes.com/images/2006/08/26/weekinreview/27leon_graph2.large.gif

    Remember this chart back when they blog started about the housing bubble

  45. leftwing says:

    grim, the marco island story broke yesterday. first few hours of reports (cbs) noted the crackers and pigs feet. by 6p and certainly 11p news it turned into solely animal crackers left. no editorializing there lol. it just took too long to say ‘and pigs feet’.

  46. Libturd in Union says:

    I just saw one of these a few moments ago. First one I’ve seen in about 15 years.

    http://tinyurl.com/pontiac-fiero-85

  47. FKA 2010 Buyers says:

    Notwithstanding the fact that the lion was baited to get off of the game reserve’s land. To Comrade’s point, was it hunt illegal or legal? I think it was legal, so there is no good argument to not extradite. Hunting for food or protection I get but don’t see the point of hunting for sport.

    Glad you find it interesting that we are not outraged by the “lack of outrage” concerning Zimbabwe’s Mugabe. The country must have something that the US needs. Kind of makes you wonder what was the real issue (not human right violations) with opening an embassy in Cuba.

  48. Alex says:

    Someone hunting a magestic lion for sport, probably compensating for certain shortcomings, deserves nothing but scorn.

  49. Ragnar says:

    The real threat to exotic animals are Chinese guys deluded into thinking exotic animal parts can inspire their fading little wieners.

  50. leftwing says:

    More media misdirection. CNBC, usually pretty good, is still referring to the Nashville perpetrator as the “Nashville shooter”. While the headline they report is that he was armed with a propane and a starter in addition to the axe.

    Me thinks that is a little inaccurate and another sign of social fauxrage du jour. People injured in a theater by a(nother) disaffected loner? Must have been guns.

    The more accurate news story would be a debate if we should have licensing standards for propane for individuals and get Senator Schumer on a mic to emphasize how propane is ‘too readily available’ to the average citizen. As if, LOL.

  51. The Great Pumpkin says:

    Well, we agree, this place is for making money. What is your ideal location since the quality of life in jersey doesn’t appeal to you.

    Imo, jersey is an ideal place if you have money. CONVIENCE is priceless and jersey offers the best convience in the game. Anything and everything is available within a realistic distance. You lived upstate new york(I think you posted that), you know there is nothing convienent about it. I can have anything I want in jersey, not many places can do this. On top of all this, you have opportunities at some of the highest paying jobs in the country and also have one of the most lucrative customer markets in the game if you own a business.

    Also, when it comes to Mosquitos, nj is heaven. Try going to a lot of the warmer climates in America and get ready to be attacked by flies or Mosquitos. It’s disgusting. Go further up north and get ready to freeze your ass off. Nj is in a great location with 4 seasons where the weather is not too extreme. You also have a much greater chance of a house lasting more than a hundred years in the northeast, due to limited natural disasters.

    Thing is, you only realize the conviences that jersey provides when you leave. When you are living here, you take it for granted.

    leftwing says:
    August 6, 2015 at 10:25 am
    Punkin, from yesterday:

    “Lefty, go live in a state that you love. You don’t appreciate what nj’s wealth concentration brings to the table. It’s nothing special, yet you have made a career of making money of these people. Leave the state and let someone else that appreciates jersey make the money”

    Got me all wrong punkin. I total appreciate the *New York City* metropolitan region’s wealth concentration of which part of NJ is a beneficiary.

    I don’t kid myself that there is something so different in NJ absent its proximity to NYC. I think many here on the board have established that unless one has proximity to NYC much of the rest of NJ (WNW of 287, southern counties) can be WV.

    I’m pretty cleared eyed. That I don’t have sepia toned heartstrings for the NJ side of the Tappan Zee seems to bother you.

    The fact is I very much appreciate the wealth in the NYC metro area. So much so that my goal actually is not to get out and leave it behind but to arbitrage it. That is, to have a business that takes revenue from this area without requiring me to be actively present here. Some industries work, others don’t. But we are very much on the same page on that topic: I want to tap into the wealth of this area as much as I can to maximize the top line while concurrently living primarily elsewhere with a (subjectively) better quality of life and much lower expense base. No different than your retired cop taking his (relatively) high pension to FL, just ideally with an extra zero on the end.

  52. A Home Buyer says:

    That, and Airsoft is considered a firearm now.

  53. The Great Pumpkin says:

    Lmao.. Agreed! Why are they so naive to believe that crap? Head scratcher, since they consider themselves to be a great nation.

    Ragnar says:
    August 6, 2015 at 3:36 pm
    The real threat to exotic animals are Chinese guys deluded into thinking exotic animal parts can inspire their fading little wieners.

  54. The Great Pumpkin says:

    Totally agree. Also, would like to add that endangered species should not be used to sustain life. It makes no sense. You need meat, have plenty of other options.

    nwnj says:
    August 6, 2015 at 1:32 pm
    Grim, I wouldn’t waste your breath defending his lowlife. This is the same fvcking jerk who was baiting and poaching bears in Wisconsin on protected land. He was prosecuted federally for that.

    If you hunt ethically and consume the animal that you kill, I have no problem with that. When you’re bating and poaching animals purely for bragging rights, then I got a big problem with it.

    Send this dirtbag back to Zimbabwe and lets see how big his cajones really are.

  55. Banco Popular Trust Preferred Shares says:

    Gynecological Surgery (clot Edition):

    A female drug smuggler needed doctors to remove a package of heroin from her vag!na after she and two accomplices were busted in Arizona, authorities said.

    Miranda Baldonado, 19, was briefly hospitalized for the procedure following a surprising car stop in Yavapai County.

    She and 19-year-old Sarah Valencia were riding in a Chrysler PT Cruiser driven by convicted drug trafficker Michael Torrez, authorities said.

    A sheriff’s deputy stopped the trio from New Mexico on Monday and quickly grew suspicious.

    “They were unable to answer basic questions that a group of passengers sharing a destination would commonly know,” according to a statement from the sheriff’s office.

    The deputy walked a drug-sniffing K-9 around the car, and the dog focused on the rear hatch where a pound of heroin, wrapped in condoms, was hidden, authorities said.

    The deputy soon learned Baldonado and Valencia had hidden additional drugs inside their “private area” as they were pulled over, according to the sheriff’s report.

  56. Ragnar says:

    How did they soon find the stuff in the private area? Is that a routine place to check?

  57. anon (the good one) says:

    @SabrinaSiddiqui:
    Rick Perry said he’d rather have had Carly Fiorina negotiating Iran deal than John Kerry… not sure what that means. #GOPDebate

  58. anon (the good one) says:

    @Salon_Politics:
    Fiorina trolls Trump: “Did any of you guys get a phone call from Bill Clinton? I didn’t.” #GOPDebate

  59. anon (the good one) says:

    @ezraklein:
    Lindsey Graham’s answer on what he’d do to fix the economy is he won’t be Barack Obama, and then he changed the subject to ISIL.

  60. leftwing says:

    Initial thoughts.

    Huckabee: Likely the most radical and unjustifiable theory on abortion. Ever. Something very wrong if he doesn’t lose more than 4 percentage points.

    Rubio: Always liked him. Still do.

    Bush: Demeanor of your MS history teacher. No gravitas. Can’t imagine four years with him.

    Trump: Getting tweaked. Started out with a pledge to support eventual nominee, obviously targeted toward him. Only one to get extra time, to specifically answer a question the moderator knew he was light on.

    CC: Softball on the economy, question he’s had 100 times. Answered well.

  61. leftwing says:

    Bush needs Perry’s optician.

  62. Grim says:

    Trump makes my brain hurt

Comments are closed.