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:
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: If an online information source is not working, check the Tracker inventory page for an updated link.