Daily Archives: July 10, 2015

Behind the Deal to Bring J.P. Morgan Jobs to New Jersey

The deal Thursday to bring more than 2,000 bank jobs to New Jersey from New York City began last year with a phone call.

Last fall, New York City Mayor Bill de Blasio rejected the entreaties of J.P. Morgan Chase & Co. to move its headquarters to the far West Side of Manhattan in exchange for hundreds of millions of dollars in tax breaks. The Democratic mayor called the company’s subsidy request “a nonstarter.”

Within a day of Mr. de Blasio’s remarks, New Jersey Lt. Gov. Kim Guadagno, a Republican, and an official with the state’s economic arm, Lauren Moore, called J.P. Morgan Chief Operating Officer Matthew Zames to discuss what the state could do to persuade the company to move jobs across the Hudson River, according to people familiar with the conversation.

Read on.