Subsidy Tracker Individual Entry

Company: 
General Electric
Parent Company: 
General Electric
Subsidy Source: 
local
Location: 
Maine
City: 
Bangor
Year: 
2011
Major Industry of Parent: 
diversified
Specific Industry of Parent: 
diversified
Subsidy Value: 
$14,273,135
Program Name: 
Bangor municipal tax increment financing
Awarding Agency: 
Bangor Community & Economic Development Department
Type of Subsidy: 
tax increment financing
Source of Data: 

direct from agency; not on web

Notes: 

Subsidy value is total TIF expenditures from FY1995 to FY2011. Subsidy involves partially financing $27.5 million of capital expenditures at manufacturing facilities leased by General Electric from the city. 50 percent of the increase in personal property tax revenue and 100 percent of the increase in real estate tax revenue is in essence returned to GE. Arrangement ends in FY 2014.

Source Notes: 
If an online information source is not working, check the Tracker inventory page for an updated link.