TAMPA - It's come down to two places: New Jersey and Tampa Bay.
Financial services company Depository Trust and Clearing Corporation plans to create 255 high-paying jobs in one of those regions over the next two years.
To break the tie, the Tampa City Council Thursday agreed to put up $178,000 in incentive money or $700 per job. But there's a catch.
"We do not pay a cent until the jobs are actually created and jobs that are real jobs and not just service jobs," said Mayor Bob Buckhorn.
Incentives are no guarantee of anything. Ybor City's tech startup, Savtira stood to reap millions in state and local tax breaks for a planned expansion of over 200 jobs. The company ended up firing it's entire staff less in just a few years.
Still, Mayor Bob Buckhorn says incentives will always be part of the game.
"States like Alabama, Mississippi and North Carolina will give away their first born to get these kind of high-tech value-added jobs, so you've got to compete.
Tampa City Council also agreed to pony up incentive money for Digital Risk, a central Florida Financial company, offering $500 per job for up to 600 positions in Tampa.
And even though most of these jobs will likely be outside of Tampa's burgeoning downtown, Mayor Buckhorn says it's still worth the investment.
"If Hillsborough County gets a company, the City of Tampa benefits as well. It's time we start looking beyond our parochial boundaries and recognizing that we compete against other regions, not just other cities."
Hillsborough County is matching the money offered by Tampa and the State of Florida is providing even more.
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