Subsidy Tracker Individual Entry

Company: 
Chrysler
Parent Company: 
Fiat Chrysler Automobiles
Subsidy Source: 
state
Location: 
Michigan
City: 
Sterling Heights
Project Description: 

automobile assembly plant

Year: 
2010
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
motor vehicles
Subsidy Value: 
$1,300,000,000
Program Name: 
MEGA (Michigan Economic Growth Authority) Tax Credits
Awarding Agency: 
Michigan Economic Development Corporation
Type of Subsidy: 
MEGADEAL
Capital Investment: 
$1,000,000,000
Source of Data: 

The subsidy amount and investment projection came from an October 26, 2010 press release issued by the Michigan Economic Development Corporation; online at http://www.michiganadvantage.org/Press-Releases/Governor-Granholm-Announ...

Notes: 

The MEDC press release stated that the record MEGA tax credit was designed to "encourage the company to expand in Michigan over a competing site in Ohio." Overlap with main Subsidy Tracker data: a 2011 MEGA entry in the amount of $1,360,189,000.

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