The Garden State may soon lose a major tenant type: data centers being used by Wall Street.
Following the proposal of a tax in New Jersey on trading in US financial markets, finance executives are sniffing around new locations in Texas, Virginia and other states that would provide safe harbor from such a levy, according to S&P Global Market Intelligence.
"We don't want to do it but we're having to seriously consider it," said Vlad Khandros, UBS Group AG's global head of market structure and liquidity strategy and global co-head of principal investments and strategic ventures, as well as a representative of an industry wide group fighting the tax called the Coalition to Prevent the Taxing of Retirement Savings.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
