Subsidy Tracker Individual Entry
retention of a shipbuilding facility
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
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.