Subsidy Tracker Individual Entry

Company: 
Yuhuang Chemical, Inc.
Parent Company: 
Shangdong Yuhuang Chemical
Subsidy Source: 
multiple
Location: 
Louisiana
City: 
St. James
County: 
St. James
Address: 
Hwy 3127 at Sidney Rd.
NAICS Industry Code: 
325199
Project Description: 

methanol manufacturing complex

Year: 
2015
Major Industry of Parent: 
chemicals
Specific Industry of Parent: 
chemicals
Subsidy Value: 
$162,328,482
Program Name: 
multiple
Awarding Agency: 
Commerce & Industry Board
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
400
Wage Data: 
$85,000
Wage Data Type: 
average annual salary
Capital Investment: 
$1,850,000,000
Source of Data: 

The value of the Quality Jobs and Industrial Tax Exemption subsidies came from the 2015 Louisiana Commerce & Industry Board disclosure site at http://www.opportunitylouisiana.com/docs/default-source/Performance-Repo... The value of infrastructure grants and the jobs, wage and investment projections came from a July 17, 2016 Louisiana Economic Development press release posted online at http://www.opportunitylouisiana.com/led-news/news-releases/news/2014/07/...

Notes: 

The package of state and local subsidies for a subsidiary of Shandong Yuhuang Chemical Co. includes: $1.75 million over ten years for riverfront access and development; $9.5 million over five years for infrastructure projects; $22 million via the Quality Jobs program (of which $14.5 million over ten years will come as payroll rebates and $7.5 million as sales and use tax credits); $129 million over ten years via the Industrial Tax Exemption programs. In addition, the company will receive workforce development support from LED FastStart program, which value has not been specified. Overlap with main Subsidy Tracker data: a $129,120,000 entry for Industrial Tax Exemption and a $21,958,482 entry for Quality Jobs, both for Yuhuang Chemical, Inc. in 2015.

Source Notes: 
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