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New York City won a victory in...

New York City won a victory in its fight to keep corporations from leaving for less expensive offices elsewhere with the announcement that Chase Manhattan Corp. will keep its 5,000 back-office workers in the city. Chase, the city’s and the nation’s second-largest bank, said it would move its clerical workers to a new facility in Brooklyn instead of a site it was considering in New Jersey. The city said it will give Chase $228 million in benefits over 25 years but added that the project will generate $228 million for the city over the next 25 years after the costs of the incentive package are calculated.


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