Company: SK Innovation Parent Company: SK Holdings Subsidy Source: multiple Location: Georgia County: Jackson Project Description: electric car battery plant Year: 2019 Major Industry of Parent: electrical and electronic equipment Specific Industry of Parent: semiconductors Subsidy Value: $299,500,000 Program Name: multiple Awarding Agency: multiple Type of Subsidy:
Number of Jobs or Training Slots: 2,032 Wage Data: $40,000 Wage Data Type: average wage Capital Investment: $1,600,000,000 Source of Data: J. Scott Trubey, "Inside state's huge incentive package for regional factory," The Atlanta Journal-Constitution. March 23, 2019. Notes: The subsidy value was calculated by The Atlanta Journal-Constitution based on information the newspaper received via a freedom of information request. The package includes local state and subsidies. Jackson County offered 20-year property tax abatements, valued at $122.7 million. State subsidies are valued at $176.8 million and include: $18.75 million in grants; free land valued at $18.76 million; $53 million in Mega Project Tax Credits; $7.4 million in Georgia Quick Start training grants; and $171,000 in water and sewer fee wavers. Other possible subsidies, not included in the total, are: R&D tax credit; various tax exemptions for qualified machinery, software, and energy usage; and various sales tax exemptions. The contract includes clawback provisions that would be triggered if the company fails to meet at least 80 percent of jobs and investment goals combined. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.