The company now called JPMorgan Chase & Co. has received millions in public money to help create jobs in Tampa. But many of those jobs are gone.

TAMPA - State and local governments have paid or promised more than $21-million of benefits plus a tax break worth up to $74.5-million to help a financial corporate titan create jobs in Tampa - the same company that will lay off 1,900 employees this year.

 

Time and again, the company now called JPMorgan Chase & Co. promised Tampa and the state that it was bringing more high-wage jobs to Tampa - even as it was shedding other jobs here.

 

Several times, in fact, government bent the rules or changed the law to help the company.

 

In 2000, it became the first company in Florida to qualify for a little-known tax credit that could dramatically reduce the company's state corporate income tax bill. The tax credit is worth as much as $3.725-million a year, or $74.5-million over 20 years.

 

Still, during a wave of mergers, downsizing and outsourcing, the JPMorgan & Chase case raises a fundamental question:

Over the long haul, is it worth it to invest millions in public money to help a company that might suddenly change its plans?

Just a  little food for thought. These types of manuavers  are happening all over the Globe.

To me, it seems like a big shell game. A play on numbers and one of the biggest scams laid at the feet of workers after all workers ARE the tax payers these days. The Workers and the Small Business Owners are really under the strain of Corporate Tax give aways and it is killing the Economy.