Subsidy Tracker Individual Entry

Company: 
A123 Systems (now owned by Wanxiang)
Parent Company: 
Wanxiang
Subsidy Source: 
multiple
Location: 
Michigan
City: 
Livonia, Romulus, Ann Arbor
County: 
Wayne; Washtenaw
Project Description: 

advanced battery manufacturing

Year: 
2009
Major Industry of Parent: 
automotive parts
Specific Industry of Parent: 
automotive parts
Subsidy Value: 
$152,300,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
844
Capital Investment: 
$626,000,000
Source of Data: 

The subsidies are summarized in A123's 10-K filing for FY 2009, available online at: http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7125...

Notes: 

The subsidy package included up to $100 million in Michigan Business Tax Battery Credits; up to $25.3 million in MEGA tax credits; two $10 million Centers of Energy Excellence grants; a $4 million low-interest forgivable loan; a $2 million grant; and $1 million in Southwest Michigan Community Alliance job training assistance. The company also stood to receive additional subsidies by virtue of being located in a Renaissance Zone, but the value cannot be determined. In addition to the state subsidies, A123 received a $249 million federal Recovery Act grant. The larger state subsidies are listed separately in the main Subsidy Tracker data under the individual program names. In 2012 the company filed for bankruptcy and later sold its assets to the Chinese company Wanxiang Group. Michigan officials took the position that the tax credits could not be transferred to Wanxiang.

Source Notes: 
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