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CITY'S BIG-TICKET INCENTIVE DEALS: ERNST & YOUNG GETS $22 MILLION IN CITY-STATE PACT; 9 OTHER DEALS SIGNED.
Crain's New York Business, August, 1999
The $22 million city-state deal to keep accounting firm Ernst & Young in the city was one of 10 incentive deals approved last week by the city's Industrial Development Agency. Ernst & Young has agreed to keep its 4,080 employees here and add more than 6,000 over the next two decades. The firm closed on a 20-year lease at 5 Times Square, where it will consolidate its operations.
The firm had threatened to move to New Jersey. The other nine deals will cost the city $23.5 million and are aimed at adding more than 3,000 jobs to its workforce. The companies include Agency.com and Xceed Inc. in Manhattan; Strauss Bakery, Great Harbor Design Center, Mesorah Publications, Mystic Display Co. and Sherland & Farrington in Brooklyn; and P.O.P. Displays International...
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