Nokia to pay back grant following jobs failure

Nokia paid the money back to The Empire State Development Corp. after receiving 700,000 USD from the group under the “Jobs Now” grant. The grant was announced in 2006 after Nokia purchased a former IBM building in the area. Nokia hired more than 300 employees at the site and received money upfront from the group. The company was eligible for an additional 300,000 USD if it employed a total of 600 people by 2011. The facility failed to create the jobs however, and was vacated in March, following an announcement last year that the company would leave New York. ----- Source: Lohud.com