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.
