Subsidy Tracker Individual Entry

Company: 
Ford Motor
Parent Company: 
Ford Motor
Subsidy Source: 
state
Location: 
Michigan
City: 
Statewide
Project Description: 

various automotive facilities

Year: 
2010
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
motor vehicles
Subsidy Value: 
$2,300,000,000
Program Name: 
MEGA (Michigan Economic Growth Authority) Tax Credits
Awarding Agency: 
Michigan Economic Development Corporation
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
28,000
Source of Data: 

The original 2010 subsidy amount and jobs projection (including both new and retained positions) came from an October 26, 2010 press release issued by the Michigan Economic Development Corporation; online at http://www.michiganbusiness.org/press-releases/governor-granholm-announc.... The 2015 updated value of MEGA tax credit was taken from Chad Livengood, ?Ford puts up $3B for tax breaks,? The Detroit News, June 9, 2015; online at http://www.pressreader.com/usa/the-detroit-news/20150609/281505044837749...

Notes: 

The MEDC 2010 press release stated that the MEGA tax credit was designed to "encourage the company to expand in Michigan over competing sites in India, South Africa, Europe and Asia." The value of MEGA tax credit was originally estimated at $909 million, but it rose to $1.1 billion. In 2015, it was reported that the tax credit will actually cost the state about $2.3 billion. Overlap with main Subsidy Tracker data: a 2011 MEGA entry for $1.02 billion.

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