Company: Nexteer Automotive Parent Company: Aviation Industry Corp. of China Subsidy Source: multiple Location: Michigan City: Buena Vista Project Description: automotive supplier Year: 2009 Major Industry of Parent: aerospace and military contracting Specific Industry of Parent: aerospace & military contracting Subsidy Value: $93,700,000 Program Name: multiple Awarding Agency: multiple Type of Subsidy:
Number of Jobs or Training Slots: 2,400 Capital Investment: $413,000,000 Source of Data: The value of the state tax credits and the job and investment projections are taken from a press release issued by Gov. Jennifer M. Granholm on November 17, 2009; available on line at: (click here). The data on the local tax abatements is taken from: Andy Hoag, "BV gives Nexteer a 20-year tax waiver," Saginaw News, November 26, 2009. Notes: Nexteer Automotive (previously know as Delphi Global Steering Division) received a $93.7 million subsidy package for expanding its production in Michigan. The Michigan Economic Growth Authority provided $70.7 million in unspecified tax credits over 10 years. Buena Vista Township agreed to freeze the company's taxable property value for 10 years, which would save the company about $2.3 million per year. In addition, the Township a approved 100-percent, 20-year tax abatement on equipment, the value of which was not reported. The jobs figure is the number of positions to be retained. Overlap with main Subsidy Tracker data: a $70.7 million MEGA tax credit entry for 2010. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.