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by Derek Loosvelt | November 10, 2010


Thanks to a nice tax break, BlackRock, the world's largest asset management firm, has committted to staying headquartered in New York City and hiring 300 new employees by year end (the firm also said it would hire another 200 by the year 2015).

According to Crain's, BlackRock paid some $503 million in state taxes last year. And, according to a BlackRock spokesperson, quoted by Crain's, the state of New York agreed to lower BlackRock's rate to 33.5 percent for 2011 (the spokesperson did not, however, divulge the rate the firm previously had paid).

Crain's also points out this interesting stat: "Through September, New York City had captured 10.3 percent of the 613,000 jobs gained nationally in 2010, despite accounting for only 3 percent of the national employment base, according to an analysis by real estate services firm Eastern Consolidated."


Filed Under: Finance