New York-Based Life Insurance Firm
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New York-Based Life Insurance Firm
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May 11. 2001
New York-Based Life Insurance Firm Moves Jobs to Long Island City, N.Y.
Eric Herman
150 words
May 11, 2001
Knight Ridder Tribune Business News - KRTBN
Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World Reporter (TM)
MetLife is set to move nearly 1,000 jobs from Manhattan to Long Island City, Queens, as part of a deal expected soon with government officials.
MetLife is negotiating a lease for space at the BridgePlaza Tech Centre, a few blocks from the Citigroup office tower, Queens' tallest building.
"Things are moving along," said councilman Walter McCaffery.
Incentives like breaks on sales tax and energy bills are likely to be granted to MetLife, though the insurance giant will not be eligible for one recently expanded city economic incentive program, real estate sources said.
City officials and real estate brokers have touted the Relocation Employment Assistance Program as a way to keep employers from moving out of the city.
The program awards companies a tax credit of $3,000 for each job moved from Manhattan to another borough.
Many insurance companies are not eligible for the benefit because of their corporate tax status.
Eric Herman
150 words
May 11, 2001
Knight Ridder Tribune Business News - KRTBN
Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World Reporter (TM)
MetLife is set to move nearly 1,000 jobs from Manhattan to Long Island City, Queens, as part of a deal expected soon with government officials.
MetLife is negotiating a lease for space at the BridgePlaza Tech Centre, a few blocks from the Citigroup office tower, Queens' tallest building.
"Things are moving along," said councilman Walter McCaffery.
Incentives like breaks on sales tax and energy bills are likely to be granted to MetLife, though the insurance giant will not be eligible for one recently expanded city economic incentive program, real estate sources said.
City officials and real estate brokers have touted the Relocation Employment Assistance Program as a way to keep employers from moving out of the city.
The program awards companies a tax credit of $3,000 for each job moved from Manhattan to another borough.
Many insurance companies are not eligible for the benefit because of their corporate tax status.