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Subsidy Tracker Individual Entry

Company: 
General Motors
Parent Company: 
General Motors
Subsidy Source: 
multiple
Location: 
Michigan
City: 
Lansing
Project Description: 

automobile assembly plant

Year: 
1999
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
motor vehicles
Subsidy Value: 
$98,900,000
Program Name: 
multiple
Awarding Agency: 
Michigan Economic Development Corporation
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
1,500
Capital Investment: 
$500,000,000
Source of Data: 

The subsidy value and the jobs and investment projections came from a May 12, 1999 press release issued by the Michigan Economic Development Corporation; online at http://www.michiganadvantage.org/Press-Releases/All-in-a-Day-s-Work-4072...

Notes: 

The package, assembled for a plant that was to produce luxury cars such as the Cadillac Catera, consisted of a $73 million MEGA tax credit; a property tax abatement worth $12.7 million; $10 million in infrastructure assistance; $2.2 million in training assistance; and a $1 million low-interest loan for environmental clean-up. Deal documents have been posted by the Mackinac Center at http://www.mackinac.org/directory.aspx?location=archives/fpi/mega/ Overlaps with main Subsidy Tracker data: none.

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