Company: Marriott International Parent Company: Marriott International Subsidy Source: multiple Location: Maryland City: Bethesda County: Montgomery Project Description: retention of hotel company headquarters Year: 2016 Major Industry of Parent: hotels Specific Industry of Parent: hotels Subsidy Value: $62,000,000 Program Name: multiple Awarding Agency: multiple Type of Subsidy:
Number of Jobs or Training Slots: 3,500 Capital Investment: $600,000,000 Source of Data: The subsidy value comes from: Jonathan O'Connell, "Marriott to move headquarters to downtown Bethesda with $62 million in incentives," Washington Post, October 18, 2016; available online at (click here) and from: Natalie Sherman, "Marriott is offered big incentives to keep headquarters in Maryland," Baltimore Sun, October 18, 2016; available online at (click here). The job retention and investment projections come from an October 18, 2016 press release from the office of Gov. Larry Hogan available online at (click here) Notes: Marriott was awarded a subsidy package worth up to $62 million consisting of $44 million in state and local grants and $18 million in state and local tax benefits in connection with the relocation of its headquarters a short distance within Montgomery County to a new site in downtown Bethesda and the retention of 3,500 jobs. The only specific state program mentioned was Sunny Day, which was said to account for $20 million of the state funds. In 1999 the company had been awarded a retention package of about $43 million to stay in the state. Overlaps with main Subsidy Tracker data: none. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.