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<br /> "° f ast year, Pennsylvania gover- and Bridgewater, New Jersey, to for infrastructure improvements, and
<br /> L nor Robert P. Casey under- Scranton; Pennsylvania. By moving to the state hacked $250,000 off the
<br /> `s went a rare and arduous lower-cost Scranton, the banking property's real estate taxes for the first
<br /> liver-and-heart transplant, which left company figures to save $17 million a 10 years. The payoff for Scranton? A
<br /> him unable to execute his office for year for the first two years and up to cumulative payroll of $840 million
<br /> several months. But when he returned $25 million a year thereafter. over the next 10 years.
<br /> to work, Casey still had his priorities But a host of state and local incen- Now, NatWest, with $25 billion in
<br /> straight. "The first thing I did when I tives, hammered out during a 16- assets, certainly has the muscle to
<br /> got back was to call on the telephone month site selection process, gave finance the construction of its own
<br /> and speak with the top executives of Scranton the edge over runner-up headquarters. But as states and cities
<br /> NatWest," he says. Tampa, Florida. The clincher: the compete fiercely to attract large busi-
<br /> Thanks in part to the governor's Scranton Chamber of Commerce vol- ness relocations and expansions, cor-
<br /> islirsonal lobbying efforts, National unteered to build a $31 million head- porate heavies like NatWest have
<br /> tminster Bancorp Inc. announced quarters, financed in part by a $12 come to expect ever more generous,
<br /> arch that it would move its 1,300- million low-interest state loan. even extraordinary, incentives. •
<br /> Job U.S. back office operations from Pennsylvania state and local govern- Take the $114 million package
<br /> New York City; Melville. New York; ments kicked in another $5.3 million recently cobbled together by Rio
<br /> r
<br /> 44
<br /> JULY 1994•CFO
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