Subsidy Tracker Individual Entry

Company: 
DaimlerChrysler
Parent Company: 
Stellantis
Subsidy Source: 
multiple
Location: 
Missouri
City: 
Fenton
County: 
St. Louis
Project Description: 

automobile assembly plant

Year: 
2005
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
motor vehicles
Subsidy Value: 
$78,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Capital Investment: 
$1,000,000,000
Source of Data: 

The value of the state portion of the subsidy package is taken from: Gregory Cancelada, "Chrysler signs off on deal; Automaker has said it wants to invest up to $1 billion at plants," St. Louis Post-Dispatch, December 13, 2005. The value of the local subsidy package is taken from: Gregory Cancelada, "Fenton board OKs tax breaks for Chrysler; City hopes abatements lead automaker to go ahead with a $1 billion renovation of two plants," St. Louis Post-Dispatch, October 27, 2005.

Notes: 

The $78 million package included state and local subsides. The state offered $32 million--$16 million through BUILD investment tax credits and another $16 million for worker training. Fenton approved 70 percent property tax abatement worth up to $46 million over 15 years, depending on the company's investment level. In addition, St. Louis County contributed an unreported amount in infrastructure improvements. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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