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.
