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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
Subsidy Value in 2023 Dollars: $382,004,592
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 (click here). 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: If an online information source is not working, check the Tracker inventory page for an updated link.