Subsidy Tracker Individual Entry

Company: 
Triple Five
Parent Company: 
Triple Five Worldwide
Subsidy Source: 
state
Location: 
Minnesota
City: 
Bloomington
Project Description: 

Mall of America expansion

Year: 
2013
Major Industry of Parent: 
real estate
Specific Industry of Parent: 
real estate
Subsidy Value: 
$250,000,000
Program Name: 
Fiscal Disparities Pool
Awarding Agency: 
state legislature
Type of Subsidy: 
MEGADEAL
Capital Investment: 
$1,500,000,000
Source of Data: 

The subsidy value came from: Tom Webb, "Mall of America hopes tax break jump-starts $1.5B expansion," St. Paul Pioneer-Press, May 20, 2013.

Notes: 

After years of trying, Triple Five finally got the Minnesota legislature to approve a large subsidy for its planned $1.5 billion expansion of the giant mall. The $250 million was to pay for infrastructure improvements in and around the mall. There were controversy over the fact that the funds were coming from a program designed to discourage cities and towns from using subsidies to compete against one another for investment. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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