Bank of America has also talked to state and city officials about an incentive package for the deal.

Terms of the incentive package have not yet been determined.

The city estimated the total value of the incentive package over 25 years at $230 million.

The government will also build schools and a hospital in the town, which do not count as part of the incentive package.

He also received $1.6 million as part of the long-term incentive package and $69,000 form the company's personal investment plan.

"But we are in a world where cities and states feel they have to offer a competitive incentive package."

Other states offered large incentive packages to attract United, including one of up to $341 million.

One person said the incentive package offered to Chase is worth about $100 million.

The city says the incentive packages secured 55,791 jobs that might otherwise have left.

His decision was an apparent response to an incentive package offered by the city, county, and state, worth approximately $80 million.