Pa. Legislature Fails to Act on Comcast HQ7/06/2004 5:11 AM Eastern
The Pennsylvania Legislature adjourned for the summer without approving tax breaks sought by Comcast Corp. to build a new headquarters in downtown Philadelphia, AP reported.
The MSO said earlier that a delay in the process would probably eliminate plans for the 60-story building, One Pennsylvania Plaza, due to rising interest rates and building costs, according to AP.
State Sen. Vincent J. Fumo (D-Philadelphia) told AP the move by Republican leaders of the Pennsylvania General Assembly to keep the issue off the agenda was "a malicious gesture" that could cost the city a chance to attract up to 3,000 jobs.
The Center City Owners Association -- a group of major office landlords in Philadelphia -- claimed that a subsidized new skyscraper would harm them financially and delay overall tax change, which, it said, is needed to spur job growth that would support new buildings.