Subsidy Tracker Individual Entry
Company:
Mitsubishi Power Systems
Parent Company:
Mitsubishi Group
Subsidy Source:
multiple
Location:
Arkansas
City:
Fort Smith
Project Description:
wind turbine assembly plant
Year:
2010
Major Industry of Parent:
diversified
Specific Industry of Parent:
diversified
Subsidy Value:
$84,750,000
Program Name:
multiple
Awarding Agency:
multiple
Type of Subsidy:
MEGADEAL 
Number of Jobs or Training Slots:
333
Capital Investment:
$100,000,000
Source of Data:
The city subsidy value and breakdown as well as the job and investment projections come from: Serenah McKay, "Mitsubishi incentive deal OK'd; Fort Smith board approves $80 million for turbine plant," Arkansas Democrat-Gazette, June 17, 2010. The state grant is cited in Laurie Whalen, "300-plus jobs await when plant is built in Fort Smith," Arkansas Democrat-Gazette, October 8, 2010.
Notes:
The city package included the issuance of $75 million in industrial revenue bonds to make the facility exempt from property taxes plus $6 million in infrastructure assistance and other incentives. The state provided a $3.75 million grant from the Quick Action Closing Fund. The plant was built, but in 2012 Mitsubishi announced an indefinite delay in its opening. Overlaps with main Subsidy Tracker data: Business Industry Training entry for $5,675 in 2011.
Source Notes:
If an online information source is not working, check the Tracker inventory page for an updated link.
