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Subsidy Tracker Individual Entry

Company: LG Energy Solution
Parent Company: LG Chem
Subsidy Source: multiple
Location: Arizona
City: Queen Creek
County: Pinal
Project Description: Construction of an EV battery manufacturing plant consisting of 11 buildings, totaling about 1.5 million square feet, on a 120-acre site.
Year: 2022
Major Industry of Parent: chemicals
Specific Industry of Parent: chemicals
Subsidy Value: $71,960,000
Subsidy Value in 2023 Dollars: $74,928,454
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy: 
Number of Jobs or Training Slots: 2,800
Capital Investment: $1,400,000,000
Source of Data: Subsidies reported by Corina Vanek for the Arizona Republican in "$1.4B battery plant that could become Queen Creek's largest employer gets go-ahead" on May 23, 2022.
Notes: In 2022, it was announced that LG Energy Solution would build an electric battery plant in Queen Creek. The project qualifies for more than $71 million in local and state incentives including: $66.26 million in the form of state qualified facilities tax credits, $5 million from the Arizona Competes Fund, training reimbursements from Pinal County, and up to $700,000 in reimbursements for job creation from the city of Queen Creek. The LG facility has also been designated a Foreign-Trade Zone by the Queen Creek town council which comes with a 72.9% reduction in state real property taxes. Overlaps with main data: None.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.