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Subsidy Tracker Individual Entry

Company: Lockheed Martin
Parent Company: Lockheed Martin
Subsidy Source: state
Location: California
Year: 2014
Major Industry of Parent: aerospace and military contracting
Specific Industry of Parent: aerospace & military contracting
Subsidy Value: $420,000,000
Subsidy Value in 2023 Dollars: $542,726,488
Program Name: California Competes
Awarding Agency: Governor's Office of Business and Economic Development
Type of Subsidy: 
Number of Jobs or Training Slots: 1,000
Source of Data: The value of the subsidy package and the job data were taken from Marc Lifsher, "California grants $420-million tax break to Lockheed Martin Corp.," Los Angeles Times, July 3, 2014 available at: (click here) and Laura Mahoney, "California Legislature OKs Bill to Give Aerospace Firm $420 Million Tax Credit," Bloomberg BNA, July 03, 2014.
Notes: In July 2014, California passed a tax credit bill (AB 2389) aimed specifically at Lockheed Martin Corp., a key subcontractor for Boeing on a bid to build next-generation bombers for the U.S. Air Force. The tax credit, equal to 17.5 percent of wages paid to the company's workers, was designed to save Lockheed Martin about $420 million over 15 years. Overlaps 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.