Company: Nissan Parent Company: Nissan Subsidy Source: multiple Location: Mississippi City: Canton County: Madison Project Description: automobile assembly plant Year: 2000 Major Industry of Parent: motor vehicles Specific Industry of Parent: motor vehicles Subsidy Value: $1,250,000,000 Program Name: multiple Awarding Agency: multiple Type of Subsidy:
Number of Jobs or Training Slots: 4,000 Capital Investment: $1,430,000,000 Source of Data: The value and the details of the subsidy package are taken from: A Good Deal for Mississippi? A report on taxpayer assistance to Nissan in Canton, Mississippi (Good Jobs First, May 2013); online at (click here) Notes: Press accounts at the time of the deal used a subsidy value of $295 million, but this covered only the amount that the state legislature initially authorized in bonds to finance infrastructure and training assistance (another $68 million in bonds was authorized in connection with an expansion of the plant in 2001). In addition, Madison County floated $20 million in bonds and the state Department of Transportation provided $24.6 million. The estimate did not include the cost of the other features of the package, including a 20-year Job Tax Credit; a 20-year Advantage Jobs Incentive; and a reduction in the franchise tax. A 2013 report by Good Jobs First estimated the value of the three state tax subsidies at $632 million and the value of local property tax abatements (via a PILOT agreement) at $210 million over 30 years. That brought the total of the package to $1.25 billion plus an estimated $90 million in borrowing costs for the bonds (not included in the estimate here). The main Subsidy Tracker data has no data on the original subsidies but lists some more recent awards to Nissan. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.