Subsidy Tracker Individual Entry

Company: 
Orascom Construction Industries
Parent Company: 
OCI N.V.
Subsidy Source: 
multiple
Location: 
Iowa
County: 
Lee
Project Description: 

fertilizer plant

Year: 
2012
Major Industry of Parent: 
chemicals
Specific Industry of Parent: 
fertilizers
Subsidy Value: 
$251,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Capital Investment: 
$1,400,000,000
Source of Data: 

The subsidy total and breakdown come from: Donnelle Eller, "More tax credits bring fertilizer plant to Iowa," Des Moines Register, September 6, 2012 and Mike Wiser, "Fertilizer plant sets record for tax breaks," Quad-City Times, September 6, 2012. For the change in the ownership see for example, ?Iowa Fertilizer Co. timeline,? The Hawk Eye, December 29, 2013.

Notes: 

The package consisted in state tax credits worth up to $107 million; other state assistance worth about $11 million; and a county property tax abatement worth an estimated $133 million. The project known under the name of Iowa Fertilizer Company, and the parent company was originally called Orascom Construction Industries. Overlaps with main Subsidy Tracker data: A 2012 Grow Iowa Values Fund entry for Iowa Fertilizer Company LLC for $84,110,000.

Source Notes: 
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