In an attempt to lure more jobs to New Jersey, state officials have offered investment banking firm Lehman Brothers a $20 million tax break. Recently the New Jersey Economic Development Authority board approved the firm for the Business Employment Incentive Grant, making this the second time in the last month that the state has made an effort to assist Lehman Brothers.
If the firm accepts the grant, they would be expected to create 100 New Jersey jobs and move 400 other positions to the state from New York City. This would bring the total number of residents Lehman Brothers employees to 2,200.