Subsidy Tracker Individual Entry
Subsidy details and jobs, wage and investment figures were taken from: David Smith, "$1B pulp plant to employ 250 in state's south," Arkansas Online, April 27, 2016; online at http://www.arkansasonline.com/news/2016/apr/27/1b-pulp-plant-to-employ-250-in-state-s-/ and Gwen Moritz and Lance Turner, "Update: Sun Paper of China Picks Clark County for $1.3B Pulp Mill," Arkansas business, April 26, 2016; online at http://www.arkansasbusiness.com/article/110808/chinese-company-picks-clark-county-for-1b-pulp-mill?page=1. An Economic Development Memorandum of Understanding between the company and the state lists the available subsidies but without estimated amounts; online at http://p.arktimes.com/media/pdf/sun_paper_mou.pdf, signed April 26, 2016 (webpage was accessed April 26, 2016)
The value of the state and local subsidy package is a conservative estimate as it does not include various tax breaks whose value is not available. The state committed $3 million for workforce training; a $12.5 million grant from Governor?s Quick Action Closing Fund for site preparation and equipment; a $50 million collateralized loan from various state agencies; an unspecified amount from the Create Rebate program, which will reimburse the company five percent of new payroll for 10 years; an unspecified amount in state and local sales and use tax refunds for buying construction materials from the Tax Back Program; unspecified amounts via the Sales Tax Exemption on Equipment and Recycling Tax Credit. In addition, state agencies will expedite air and wastewater permits. Local subsidies consist of $10 million for infrastructure development and $92 million over 20 years in 65-percent county property-tax abatements. State and local governments will apply for federal grants to upgrade rail near the facility. Overlap with main Subsidy Tracker data: none.