IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 16 May 2014 | Removal date: open ended
Still in force

Tax or social insurance relief

In 2014 in order to retain JP Morgan Chase the New Jersey state legislature granted to the firm $22,483,500 in tax credits per year for 10 years. JP Morgan Chase qualified as a "mega project" and was eligible for an award of $5,000 per employee, plus bonuses.
 
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.

AFFECTED COUNTRIES

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