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MegadealsSubsidy Tracker Individual Entry
Company: Severstal
Parent Company:
Cleveland-Cliffs
Subsidy Source: multiple
Location: Michigan
City: Dearborn
Project Description: steel plant
Year: 2005
Major Industry of Parent: mining and minerals
Specific Industry of Parent: mining
Subsidy Value: $119,000,000
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy:
MEGADEAL
Number of Jobs or Training Slots: 2,000
Capital Investment: $1,300,000,000
Source of Data: The state subsidy value, the number of retained jobs and the amount of the investment came from a June 21, 2012 press released issued by Gov. Rick Snyder; online at
(click here) The value of the local property tax abatement was cited in a June 21, 2005 press release by then-Gov. Jennifer Granholm; online at
(click here)
Notes: The package included a Retention MEGA tax credit worth $49 million over 20 years; brownfield credits worth $51 million; an unspecified amount of training funds; and local property tax abatements worth an estimated $19 million. The facility, which the Russian firm Severstal sold to AK Steel in 2014, is part of the former Ford Rouge plant. 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.