New Jersey wonders why the cost of doing business is so high

The state of New Jersey is going to approve JP Morgan Chase $188 million dollars in tax credits to move 2,000 workers to Jersey City. WE as taxpayers are paying a company that made over 5 BILLION dollars last QUARTER $188 million dollars to move 2,000 workers across the river. Could this money not have been invested more wisely? Maybe some smaller businesses could use a tax cut. Why give a mega-bank that engages in this kind of business practice our money?

JPMorgan Chase & Co has agreed to pay at least $125 million to settle probes by U.S. state and federal authorities that the bank sought to improperly collect and sell consumer credit card debt, according to people familiar with the matter.

What a great company. Exactly the kind of company who is really undeserving of the money first off and it's truly unnecessary secondly make this a bad bad deal for New Jersey taxpayers but the usual suspects, Chris Christie, Steve Fulop et al were jumping up and down for it. These guys just don't seem to get economics or if they do it doesn't show up in people looking to gain higher office. Jersey City wouldn't live or die with these jobs coming here or not. There's no requirement those getting New Jersey tax money hand over fist actually live in New Jersey. Very few if any of these people will set up shop here so in essence we just subsidized a lot of New Yorkers. Again, reasons the cost of doing business is so high and there is no benefit in making it so.