Subsidy Tracker Individual Entry
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:
MEGADEAL 
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.
