Basic Search  |  Geographic Searches  |  Advanced Search | Megadeals

Subsidy Tracker Individual Entry

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
Subsidy Value in 2023 Dollars: $78,958,617
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.