Company: Bath Iron Works (owned by General Dynamics) Parent Company: General Dynamics Subsidy Source: multiple Location: Maine City: Bath Project Description: shipyard modernization Year: 1997 Major Industry of Parent: aerospace and military contracting Specific Industry of Parent: aerospace & military contracting Subsidy Value: $194,000,000 Program Name: multiple Awarding Agency: multiple Type of Subsidy:
Capital Investment: $307,000,000 Source of Data: The subsidy value and breakdown as well as the investment projection came from: Dennis Hoey, "Lawsuit Against BIW Challenges TIF Legality," Portland Press Herald, September 20, 1997. Notes: The subsidy package consisted of a $60 million state tax credit based on worker withholding taxes over 20 years; $53 million from the state's Business Equipment Tax Reimbursement (BETR) program; and an $81 million tax increment financing subsidy from the city. The state tax credit was pegged to the employment level at the facility. Overlaps with main Subsidy Tracker data: three BETR entries for 2009, 2010 and 2011 totaling $10.1 million. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.