Turner Broadcasting, which is expected to make significant job cuts this fall, is in line for additional tax breaks from officials hoping to retain local jobs and corporate spending.
The deal comes with some twists. The Atlanta-based home of CNN, TNT, TBS and Cartoon Network is projecting that it will have 7,000 employees in Fulton County by the end of 2018, according to county development authority documents tied to the deal. That’s about 500 jobs more than what Turner currently has locally.
This summer the development authority agreed to issue bonds for Turner, maneuvering the company to qualify for millions of dollars in tax breaks. The company stands to save on local property taxes that would would be assessed on up to $600 million in future equipment purchases for its tech-heavy operations.
Turner recently offered voluntary buyouts to nearly 600 employees nationwide and it plans layoffs later this year. But Turner has its own take on whether keeping jobs locally is part of its deal for tax breaks.
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