Subsidy Tracker Individual Entry

Company: 
General Motors
Parent Company: 
General Motors
Subsidy Source: 
multiple
Location: 
Michigan
City: 
Detroit And Flint
Project Description: 

Chevrolet Volt electric car production facilities

Year: 
2008
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
motor vehicles
Subsidy Value: 
$268,500,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Source of Data: 

The state portion of the package came from a September 23, 2008 press release issued by the Michigan Economic Development Corporation; online at http://www.michiganadvantage.org/Press-Releases/Governor-Announces-Over-.... The Detroit property tax abatement was reported by: Zachary Gorchow, "Detroit Council Grants Tax Break for GM Plant," Detroit Free Press, September 30, 2008.

Notes: 

The Michigan Economic Development Corporation provided $122.5 million in MEGA tax credits and a $10 million brownfield tax credit for various Volt facilities. The Detroit City Council approved a $136 million property tax abatement. Flint also approved an abatement, but its value was not reported. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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