J.P. Morgan Chase & Co. is looking to move 2,150 jobs from New York City to Jersey City, the latest expansion of the financial institution across the Hudson River.
The New Jersey Economic Development Authority on Thursday is expected to consider an application by the New York City-based bank for a $19 million subsidy over 10 years, the second round of tax credits for the firm in about a year as the state seeks to create jobs in the Hudson County city.
New Jersey’s unemployment rate was 6.5% in May, compared with New York state’s 5.7% and 5.5% for the nation, according to the U.S. Bureau of Labor Statistics. (Haddon/Wall Street Journal)