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MegadealsSubsidy Tracker Individual Entry
Company: Nucor
Parent Company:
Nucor
Subsidy Source: multiple
Location: Louisiana
County: St. James
Project Description: iron and steel plant
Year: 2010
Major Industry of Parent: metals
Specific Industry of Parent: steel
Subsidy Value: $255,000,000
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy:
MEGADEAL
Number of Jobs or Training Slots: 1,250
Wage Data: $75000
Wage Data Type: annual average wage
Capital Investment: $3,400,000,000
Source of Data: The value and the breakdown of the subsidy package, and the job, wage and investment projections are taken from: Robert Travis Scott, "Nucor bonds move forward; State official details incentives for plant," New Orleans Times-Picayune, September 17, 2010 and a September 15, 2010 press release issued by Gov. Bobby Jindal; available online at:
(click here)
Notes: The package included $160 million in grants and loans applied in stages over five phases (all five phases have to be initiated by 2015; phase one already received $60 million). The package also included up to $40 million in Quality Jobs Program over 10 years and sales tax rebates or investment tax credits worth up to $55 million over five years. Nucor also received an unspecified amount in local property tax abatements and was authorized for $600 million in tax-exempt Gulf Opportunity Zone bonds; the company is responsible for repaying the bonds (listed in a separate entry in the main Subsidy Tracker data for the Gulf Opportunity Zone Bond Program but not included in the total here). Overlap with main Subsidy Tracker data: a $18.8 million Quality Jobs award in 2012.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.