Hewlett-Packard to repay $459K in state incentives

Published January 22, 2014 5:00am ET



CONWAY, Ark. — Hewlett-Packard Co. has negotiated to repay $459,000 of the state incentives it received to build a customer-service center in Conway after falling short on hiring goals, according to the Arkansas Economic Development Commission.

The company received $10 million from an incentive fund the governor controls to go toward infrastructure for the Conway center, but the agreement included provisions for the state to reclaim money if employment goals aren’t met. The Arkansas Democrat-Gazette reported Wednesday (http://bit.ly/1kXLcif ) that a clawback provision in HP’s incentive agreement was triggered by the company’s failure to have 1,000 full-time employees after five years.

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