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WeWork Tax Abatement
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Recently, the multibillion dollar valued co-working firm WeWork dismissed an executive after he said Jersey City wasn't "cool" even though WeWork was to receive a reported $59 MILLION dollar tax abatement to sign a 100,000 Square Foot lease in our "not cool" city.

Candice Osborne (NJ city council) then leapt to the defense of JC and this resulted in the firing of the offending WeWork executive. She boasted of just how COOL and HIP we really are!
http://therealdeal.com/2016/10/18/sea ... y-comments-spark-outrage/

If we are so cool then does a co-working company that produces negligible jobs need the incentive of a $59Million dollar tax incentive to sign a lease? How about the developer Jared Kushner's company and a partner - do they deserve the help getting 100,000 SF leased in their new towers at our expense? Is there demand for 100,000 SF of coworking space there....

I'd like to know - but since from what I have seen minutes of meetings are not updated and the tab on the council site for Tax Abatement proceedings is curiously empty.

Does anyone have advice on how I can research this issue since I cannot really argue one way or the other if I can't find the facts.

Posted on: 2016/11/5 22:31
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