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Subsidy Tracker Individual Entry

Company: ENTEK
Parent Company: 
Subsidy Source: multiple
Location: Indiana
City: Terre Haute
County: Vigo
Project Description: Battery component manufacturing plant
Year: 2023
Subsidy Value: $378,600,000
Subsidy Value in 2023 Dollars: $378,600,000
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy: 
MEGADEAL

Number of Jobs or Training Slots: 642
Wage Data: $30
Wage Data Type: hourly wage
Capital Investment: $1,500,000,000
Source of Data: Local subsidies were approved by the Vigo County during a special meeting on July 13, 2023: (click here) the subsidy value was briefly mentioned in minutes of the county council meeting from June 13, 2023: (click here). Land subsidy information was taken from: Howard Greninger, "$1.5 billion battery part factory to create 642 Vigo jobs," The Tribune-Star, May 21, 2023, via LexisNexis. State subsidies, jobs and investment are based on the information provided in the Indiana Economic Development Corporations transparency portal: (click here). Wage information was taken from: Howard Greninger, "Challenges ahead to ensure battery plant's transformational impact," The Tribune-Star, May 5, 2023 via LexisNexis.
Notes: ENTEK will build a facility that will produce EV battery components at an industrial park in Terre Haute, IN. The project will come in two phases: phase one will be operational by 2025 and will require 642 workers and $1.5 billion investment; the second phase will be operational by 2027. The state will provide the company with an $8 million grant through EDGE program, a $5 million grant through CPG program, and $300,000 for workforce training through SEF. The county approved a 10-year, 100% personal property tax abatement estimated at $360 million, and a 10-year, 100% real property tax abatement, value unknown. In addition, the Vigo Redevelopment Commission sold the company a $5.3 million site at the industrial park for $1. The company also received federal subsidies; those are not included in the total: $200 million grant and $900 million loan, both from the Dept. of Energy. An article stated that the average salary worker pay will be $71,000 and hourly worker wage will be $30/h. Overlaps with the main data: none.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.