Report: Pay, Or We (Might) Go: How Citigroup Games the States and Cities

Date Published: 
June, 2007

Sarah Stecker, New Jersey Policy Perspective and Dan Steinberg, Good Jobs New York

An analysis of Citigroup’s practices in four states—New York, New Jersey, Kentucky and Texas—suggests that the world’s largest financial institution rarely makes a move without getting taxpayers to help foot the bill.

Using the threat of moving facilities and jobs elsewhere, Citigroup has repeatedly played state against state and locality against locality to attract at least $285.9 million in subsidies in just the four states.

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