White Plains lures insurer with tax breaks

www.EmploymentCrossing.com The city of White Plains, New York has bribed Manhattan's Amalgamated Life Insurance to move its headquarters to Westchester County, creating 400 jobs. Tax breaks of $480,000 are the incentive. Amalgamated will move into the 132,000 square foot former HQ of General Foods. Amalgamated was unable to negotiate a new lease with New York University, its landlord in Manhattan. The company considered sites in Newark, N.J., and lower Manhattan before deciding on Westchester. The departure of Amalgamated from New York is a blow to Mayor Michael Bloomberg, who offered the insurance company tax breaks and about $750,000 in cash to remain in Manhattan. Amalgamated, founded in New York City in 1943, calls itself "America's labor insurance company." Originally formed to protect New York textile workers, the company provides life, health, pension and other products across the United States. Westchester County Executive Andrew Spano said the county and the company began negotiating incentives months ago. He said it is generally hard for the county to compete with the incentives that governments in Connecticut and New Jersey offer. But companies are drawn to the White Plains by its proximity to New York City

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