Subsidy Tracker Individual Entry

Company: 
Blue Water Fiber
Parent Company: 
Blue Water Fiber
Subsidy Source: 
state
Location: 
Michigan
City: 
Port Huron
Project Description: 

paper recycling plant

Year: 
1994
Major Industry of Parent: 
paper and packaging
Specific Industry of Parent: 
paper recycling
Subsidy Value: 
$81,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
84
Capital Investment: 
$100,000,000
Source of Data: 

The subsidy value and the jobs and investment projections came from: Jacqueline Long, "$100 million recycling plant wins funding," Port Huron Times Herald.

Notes: 

The subsidy consisted of $76 million in tax-exempt financing from the Michigan Strategic Fund and a $5 million grant from the Michigan Department of Natural Resources' Solid Waste Alternatives Program. The company filed for Chapter 11 bankruptcy in 1998 ("Blue Water Fiber files for bankruptcy," Pulp & Paper December 1, 1998) and closed the facility in 2001 (Lisa Aichlmayr, "Poor economy closes paper recycling plant," Port Huron Times Herald, August 28, 2001). Overlap with main Subsidy Tracker data: 1994 Industrial Facilities Property Tax Exemption entry, without a subsidy value.

Source Notes: 
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