Thursday, February 21, 2019

Council defers action on $3.6M corporate welfare for AllianceBernstein

Nashville council defers approval for $3.6M incentive to AllianceBernstein

by Yihyun Jeong, The Tennessean, 2/21/2019 - The Metro Council deferred approval Tuesday of a nearly $3.68 million incentive package to lure the investment firm AllianceBernstein from New York to Nashville. move its headquarters and bring 1,050 financial jobs to Nashville. ....a $500-per-job incentive — up to $525,000 every year  — for seven years. ....deferred Tuesday with no discussion at the Metro Council meeting.....  ....Metro's general fund will receive reduced property taxes at the Fifth + Broadway project for a number of years as the result of a $25 million tax increment financing payment that has been awarded to the developer. 

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