Subsidy Tracker Individual Entry

Company: 
ESPN (owned by Walt Disney Co.)
Parent Company: 
Walt Disney
Subsidy Source: 
state
Location: 
Connecticut
City: 
Bristol
Project Description: 

expansion of headquarters and broadcasting complex

Year: 
2000
Major Industry of Parent: 
entertainment
Specific Industry of Parent: 
entertainment
Subsidy Value: 
$75,000,000
Program Name: 
single sales factor for broadcasters
Awarding Agency: 
state legislature
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
1,000
Capital Investment: 
$500,000,000
Source of Data: 

The subsidy value and the jobs and investment projections came from: "Reaction to ESPN Tax Break," Hartford Courant, May 4, 2000.

Notes: 

In 2000 ESPN announced plans for a $500 million expansion of its broadcasting operations in Bristol, Connecticut but said it would not proceed unless the state legislature enacted a law allowing it to calculate its state corporate income taxes using the single sales factor method, which meant a savings of $15 million a year, or $75 million over five years. The legislature complied. In 2011 state officials announced that ESPN would receive a $17.5 million low-cost construction loan for a new digital facility along with up to $6 million in sales tax exemptions on construction materials and up to $1.2 million in training funds. See: Mara Lee, "ESPN Pledges to Add Jobs," Hartford Courant, August 3, 2011. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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