The administration of Gov. Andrew M. Cuomo of New York has brokered its own subsidy deals, albeit on a smaller scale, with major corporations.
This year, Time Inc., which publishes Time magazine and 20 other brands, threatened to move to New Jersey from its longtime home in Midtown. New York agreed in May to provide the company with $10 million — a $3 million tax credit and $7 million in cash — to move instead to Lower Manhattan.
Several other companies received incentives without even threatening to leave New York. The state agreed to provide GroupM, a large media company, $15 million in cash if it moved downtown from Midtown. Two companies that are part of New York's fast growing technology sector, Etsy and Square, each got $5 million in tax credits.
Read More$15 minimum wage permits few luxuries in US cities