Subsidy Tracker Individual Entry

Company: 
Dow Chemical
Parent Company: 
DowDuPont
Subsidy Source: 
multiple
Location: 
Michigan
City: 
Midland
Project Description: 

manufacturing facilities for renewable energy materials

Year: 
2010
Major Industry of Parent: 
chemicals
Specific Industry of Parent: 
chemicals
Subsidy Value: 
$129,300,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
6,900
Capital Investment: 
$1,000,000,000
Source of Data: 

The value of the job creation tax credits, the Michigan Strategic Fund grant and the federal grant as well as the job and investment projections are taken from a press release issued by Michigan Economic Development Corporation on February 25, 2010; available online at: http://www.michiganadvantage.org/Press-Releases/Granholm-Hails-Dow-Plans.... The value of the remaining subsidies is taken form: Kathryn Lynch-Morin, "Dow Chemical reaping windfall, expanding alternative energy reach," MLive.com, February 25, 2010; available online at: http://www.mlive.com/news/saginaw/index.ssf/2010/02/dow_chemical_reaping...

Notes: 

The subsidy package was assembled for an expansion of Dow Chemical facilities used in producing materials for renewable energy generation, such as Dow's Powerhouse Solar Shingle. The subsidy package included: $61.3 million over 15 years in state job creation tax credits; $28 million in local property tax abatements through a Renaissance Zone designation; a $15 million Michigan Business Tax Credit; two brownfield tax credits worth a total of $20 million; and a $5 million grant from the Michigan Strategic Fund. In addition, the U.S. Department of Energy provided the company with a $5 million grant, which is not included in the total here. Overlaps with main Subsidy Tracker data: a $5 million Centers for Energy Excellence entry for 2010, which reflects the Michigan Strategic Fund award.

Source Notes: 
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