Given $17.5M Tax Break to Bring Jobs to Tennessee, AllianceBernstein Now Pushes New York Policies

AllianceBernstein, a money management firm given $17.5 million in tax breaks and incentives to relocate its headquarters to Nashville, has already begun to push New York City style policies at the state’s legislature. The Tennessee Department of Economic & Community Development announced in May of 2018 that AllianceBernstein would its corporate headquarters from Manhattan…

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Tennessee Taxpayers Gave $1 Billion in Corporate Welfare Last Year

Bernstein

You, the taxpayers of Tennessee, helped give away nearly $1 billion in tax credits to corporations who set up shop here last year. State law, as it turns out, forbids you from finding out exactly what kind of return you’re getting on your investment. In other words, even though the…

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Tennessee Loses Money Spending $17,500 Per Job to Lure 1,000 AllianceBernstein Employees to Nashville from New York City

Tennessee Capital building

A $17.5 million tax incentive from the state of Tennessee to lure 1,000 jobs to Nashville–$17,500 per job—came at the expense of taxpayers to lure well-paid corporate executives when they already were drawn to the state’s other features like a favorable tax structure, experts say. The Tennessee Department of Economic…

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Relocation of AllianceBernstein to Nashville is ‘Rebuke’ of Wall Street

AllianceBernstein Holding LP is moving its corporate headquarters and about 1,050 jobs to Nashville, in a move MSN/Bloomberg calls a “rebuke” of Wall Street. Some of AllianceBernstein’s functions like portfolio management will stay in New York, workers from legal, sales and marketing, and finance will begin moving to Music City…

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Nashville Draws $70 Million Corporate Finance Headquarters

A global asset management firm will build a $70 million corporate headquarters in Nashville, the state announced in a press release Wednesday, May 2. Tennessee Gov. Bill Haslam, Department of Economic and Community Development Commissioner Bob Rolfe and AllianceBernstein L.P. (AB) officials made the announcement. The relocation of its company…

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