New Jersey datacenter expansion got $77m in tax breaks to create exactly one permanent job — JPMorgan's site already scored $35m and currently employs just 25 workers

A JPMorgan datacenter expansion in New Jersey received $77 million in tax breaks to create just one permanent job, marking a high subsidy-to-jobs ratio. The expansion, which is part of a $1 billion investment, currently employs only 25 workers despite the substantial tax incentives. The Industrial Development Agency (IDA) believes the deal will benefit the local economy, projecting a $100 million infusion. While the IDA acknowledges the lack of permanent jobs, they argue that the overall economic impact justifies the subsidy. The situation highlights the need for closer scrutiny of datacenter subsidies and their true economic impact.