Lehman Offered Incentives for More Workers in Jersey

Lehman Brothers was offered $20 million to bring 400 jobs and create 100 more in New Jersey, reports BusinessWeek. Most of those jobs are likely to be in Jersey City.

Financial incentives like the one being offered Lehman are credited with the Jersey City office boom that resulted in such icons like the Goldman Sachs tower. However, in more recent years, office rents have remained comparatively low leaving many proposed office towers on hold. Some, like 77 Hudson, were canceled entirely, and now are condominiums and rental apartments.