Subsidy Tracker Individual Entry

Company: 
Fiat Chrysler
Parent Company: 
Stellantis
Subsidy Source: 
multiple
Location: 
Michigan
City: 
Detroit
County: 
Wayne
Project Description: 

conversion of two existing plants into a new Jeep assembly plant

Year: 
2019
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
motor vehicles
Subsidy Value: 
$405,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
3,850
Wage Data: 
$19.25
Wage Data Type: 
average hourly wage
Capital Investment: 
$1,600,000,000
Source of Data: 

The details of the package were taken from: Breana Noble, "Mack Engine expansion gets $93M more in incentives, The Detroit News, July 23, 2019. Accessed via LexisNexis. Michigan Strategic Fund 2019 Annual Report includes some components of the package: https://www.michiganbusiness.org/494b73/globalassets/documents/reports/l...

Notes: 

The Michigan Strategic Fund board approved various tax subsidies for Fiat Chrysler valued at $223.5 million. Additionally, $92.9 million was approved in brownfield tax-increment financing. The Michigan Department of Environment provided $38 million from its Great Lakes and Energy programs. The city's package was estimated at $50.6 million and included $36 million from bond funds, a $7.5 million loan to the Detroit Brownfield Redevelopment Authority and $7.1 million from the sale of the city's Millennium Garage. As a part of its community benefits agreement, the company committed to local hiring. Overlap with Subsidy Tracker main data: none.

Source Notes: 
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