Subsidy Tracker Individual Entry
retention of hotel company headquarters
The subsidy value comes from: Jonathan O'Connell, "Marriott to move headquarters to downtown Bethesda with $62 million in incentives," Washington Post, October 18, 2016; available online at https://www.washingtonpost.com/news/digger/wp/2016/10/18/marriott-to-move-headquarters-to-downtown-bethesda/ and from: Natalie Sherman, "Marriott is offered big incentives to keep headquarters in Maryland," Baltimore Sun, October 18, 2016; available online at http://www.baltimoresun.com/business/bs-bz-marriott-headquarters-incentives-20161018-story.html. The job retention and investment projections come from an October 18, 2016 press release from the office of Gov. Larry Hogan available online at http://governor.maryland.gov/2016/10/18/marriott-plans-new-600-million-office-and-hotel-complex-in-montgomery-county-maryland/
Marriott was awarded a subsidy package worth up to $62 million consisting of $44 million in state and local grants and $18 million in state and local tax benefits in connection with the relocation of its headquarters a short distance within Montgomery County to a new site in downtown Bethesda and the retention of 3,500 jobs. The only specific state program mentioned was Sunny Day, which was said to account for $20 million of the state funds. In 1999 the company had been awarded a retention package of about $43 million to stay in the state. Overlaps with main Subsidy Tracker data: none.