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Subsidy Tracker Individual Entry

Company: Gotion, Inc
Parent Company: Volkswagen
Subsidy Source: multiple
Location: Michigan
City: Big Rapids
County: Mecosta
Project Description: battery components manufacturing facility
Year: 2022
Major Industry of Parent: motor vehicles
Specific Industry of Parent: motor vehicles
Subsidy Value: $715,000,000
Subsidy Value in 2023 Dollars: $744,494,786
Program Name: multiple
Type of Subsidy: 
Number of Jobs or Training Slots: 2,350
Capital Investment: $2,364,000,000
Source of Data: A press release from the Gov. Whitmer office: "Gov. Whitmer Announces $4.1 Billion in Investments Creating 4,600 Jobs Building Batteries, Bringing Supply Chain Home, Growing Agriculture Economy," October 5, 2022: (click here) Michigan Strategic Fund, Approved Special Session Minutes, October 5, 2022: (click here)
Notes: Gotion Inc., a subsidiary of Chinese Gotion High-Tech Co., will build two plants in Big Rapids that will manufacture battery elements. The package includes: a Critical Industry Program performance-based grant, valued at $125 million and a Strategic Site and a Readiness Program performance-based grant, valued at $50 million (both through state Strategic Outreach and Attraction Reserve Fund); the Michigan Strategic Fund, Green Charter Township, Big Rapids Charter Township, and Mecosta County also approved a 30-year Renaissance Zone that will provide the company with property tax abatements estimated at $540 million. In addition, Green Charter Township and Big Rapids Charter Township provided additional 50% real property tax abatements, value unknown. Overlaps with the main data: A $125 million Critical Industry program grant, a $540 million RenZone, a $50 million Strategic Site Readiness grant; all awarded in FY 2023.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.