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incentives

Millions in tax breaks for jobs

By Times Staff Writer
Published January 23, 2005

1988 - Chase receives hundreds of thousands of dollars in state aid for "start-up projects."

1993 - Chase buys the Fountain Square complex where it had been leasing space near Tampa International Airport for $31-million.

1995 - Chase announces merger with Chemical Bank.

1997 - Eager to persuade Chase to add jobs to the calling card center, business and government leaders get the Legislature to change the law so that the company gets breaks on its documentary stamp tax.

1997 - Gov. Lawton Chiles' office agrees to give Chase a potential $5-million tax refund over six years under the state's Qualified Target Industry (QTI) program. In return, Chase promises to add 1,114 jobs.

1998 - The state changes and extends Chase's tax-refund agreement after the company says it won't meet 1,114 goal on time. Chase receives its first tax refund of $463,386.

1999 - The office of Gov. Jeb Bush authorizes $8.4-million more in potential tax refunds when Chase pledges to add 2,140 more jobs in three new units in Tampa.

January 2000 - The governor's office makes Chase the first company to become eligible for a new capital investment tax credit, which could dramatically reduce its state income tax liability for 20 years.

September 2000 - Chase merges with J.P. Morgan to become JPMorgan Chase & Co.

2004 - The company merges again, this time with Bank One.

Jan. 12, 2005 - The company announces it will close its credit card center in Tampa and eliminate 1,900 jobs by year's end.

[Last modified January 23, 2005, 00:15:19]