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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: 
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.