Subsidy Tracker Individual Entry

Company: 
Starwood Hotels and Resorts
Parent Company: 
Marriott International
Subsidy Source: 
state
Location: 
Connecticut
City: 
Stamford
Project Description: 

corporate headquarters

Year: 
2009
Major Industry of Parent: 
hotels
Specific Industry of Parent: 
hotels
Subsidy Value: 
$89,500,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
800
Source of Data: 

The subsidy figure and breakdown as well as the jobs projection came from: Richard Lee, "Starwood Hotels books room in Stamford," Connecticut Post Online, November 18, 2009.

Notes: 

The package, which was given to encourage the company to relocate its headquarters from White Plains, NY, consisted of up to $75 million in Urban and Industrial Site Reinvestment Tax Credits, $5 million in sales tax exemptions on building materials through the Connecticut Development Authority and a $9.5 million low-cost (and partially forgivable) loan from the state Department of Economic and Community Development. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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