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Subsidy Tracker Individual Entry

Company: 
Huntington Ingalls Industries
Parent Company: 
Huntington Ingalls Industries
Subsidy Source: 
state
Location: 
Louisiana
City: 
Avondale
Project Description: 

retention of a shipbuilding facility

Year: 
2011
Major Industry of Parent: 
aerospace and military contracting
Specific Industry of Parent: 
aerospace & military contracting
Subsidy Value: 
$214,000,000
Program Name: 
multiple
Awarding Agency: 
Louisiana Economic Development
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
3,850
Source of Data: 

The value and the breakdown of the subsidy package and the job requirements are taken from an October 18, 2011 press release issue by Gov. Bobby Jindal; available online at: http://www.gov.state.la.us/index.cfm?md=newsroom&tmp=detail&articleID=3058

Notes: 

The state committed $214 million performance-based subsidy package over 10 years for the Avondale shipyard. The package included job-creation tax credits, job training assistance via Louisiana FastStart, and funds to retool and modernize the facility. The company, a spin-off of Northrop Grumman Corporation, announced that it will close the facility if it does not find an investment partner. Overlap with main Subsidy Tracker data: a $589,811 Industrial Tax Exemption entry for 2011.

Source Notes: 
If an online information source is not working, check the Tracker inventory page for an updated link.