Struggling Nokia Repays $420,000 Jobs To NY State As It Leaves The Area

Posted on May 2 2012 - 8:54am by Editorial Staff

The struggling Finnish mobile giant Nokia has repaid the NY state $420,000 after breaking a deal to bring hundreds of jobs to Westchester. The company, which is tasked with attracting companies to New York in order to spur job growth, originally gave the company a $700,000 “Jobs Now” grant, but the entire amount couldn’t be recouped because Nokia did technically create jobs for awhile.

Under the deal, Nokia was eligible for an additional $300,000 if it employed a total of 600 people by 2011 in Harrison; but by then the company lost massive amounts of market share to smartphone makers Apple, Research In Motion and Samsung. Nokia announced it was leaving New York about a year ago, and the local building was vacated by March.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.