IBM failed to hit its promised jobs target for a downtown Baton Rouge location which the state gave millions of dollars in tax incentives to land, according to the Business Report.
Despite that, Governor John Bel Edwards granted a two-year extension to the state’s agreement with IBM with penalties if the company misses those marks again.
The report said IBM agreed in 2013 to have 800 jobs at its downtown office by this year. Instead the company has created 572 jobs, and agreed to pay an increased penalty of $10,000 per missed job if they fail to hit their target again in 2019.
The Business Report said the state gave IBM $14.8 million in tax incentives as well as $12.7 million in federal hurricane recovery dollars to build the office tower.