Subsidy Tracker Individual Entry

Company: 
Ford Motor Co.
Parent Company: 
Ford Motor
Subsidy Source: 
multiple
Location: 
Michigan
City: 
Detroit
County: 
Wayne
Project Description: 

Michigan Central Depot revitalization project

Year: 
2018
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
motor vehicles
Subsidy Value: 
$234,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
megadeal
Number of Jobs or Training Slots: 
5,000
Capital Investment: 
$740,000,000
Source of Data: 

The information comes from: Breana Noble, "Ford Corktown site gets $207M tax break," The Detroit News, November 28, 2018.

Notes: 

Corktown, a 1.2 million-square-foot campus by Michigan Central Station, will host a Ford Motor office and research park. The project was approved for $207 million over 30 years via the Michigan Strategic Fund. The board approved creation of a renaissance zone, which will provide Ford with real and personal property tax, city corporate income tax and utility users tax exemptions. In addition, the city of Detroit approved Commercial Revitalization Act and Obsolete Property Rehabilitation Act awards that will abate $27 million in taxes over 12 years. Jobs number are jobs expected at the project location, including 2,500 jobs that Ford is expected to move from other locations and 2,500 jobs created by partners. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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