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Subsidy Tracker Individual Entry

Company: 
Remington Arms
Parent Company: 
Cerberus Capital Management
Subsidy Source: 
multiple
Location: 
Alabama
City: 
Huntsville
County: 
Madison
Project Description: 

gun production facility

Year: 
2014
Major Industry of Parent: 
private equity (including portfolio companies)
Specific Industry of Parent: 
private equity (including portfolio companies)
Subsidy Value: 
$68,900,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
2,000
Capital Investment: 
$110,000,000
Source of Data: 

The value of the subsidy package, its components and the projected numbers for jobs and investment come from: Steve Doyle, "Alabama's incentive package for Remington gun plant," AL.com, February 17, 2014; online at http://www.al.com/business/index.ssf/2014/02/alabamas_incentive_offer_to...

Notes: 

The state agreed to provide $38.3 million to assist Remington in retrofitting and equipping a former Chrysler plant as well as training assistance valued at $15.9 million over 10 years and site preparation assistance. Huntsville and Madison County agreed to spend $10.5 million to purchase the plant for Remington and to provide $2 million for equipment. The city of Athens and Limestone County kicked in another $1 million. Overlap with main Subsidy Tracker data: none.

Source Notes: 
If an online information source is not working, check the Tracker inventory page for an updated link.