Subsidy Tracker Individual Entry
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 http://www.michiganadvantage.org/Press-Releases/Snyder-celebrates-grand-... The value of the local property tax abatement was cited in a June 21, 2005 press release by then-Gov. Jennifer Granholm; online at http://www.michiganadvantage.org/Press-Releases/250-Million-Severstal-In...
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.