Subsidy Tracker Individual Entry

Company: 
SeverCorr
Parent Company: 
Steel Dynamics
Subsidy Source: 
multiple
Location: 
Mississippi
County: 
Lowndes
Project Description: 

steel mill

Year: 
2005
Major Industry of Parent: 
metals
Specific Industry of Parent: 
steel
Subsidy Value: 
$99,750,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
450
Capital Investment: 
$880,000,000
Source of Data: 

The value and the breakdown of the subsidy package and the job and investment projections are taken from: "Auditor's report gives high marks to SeverCorr project," The Associated Press State & Local Wire, August 11, 2006. The state auditor's report the article discusses can be found online at http://www.osa.ms.gov/documents/performance/severcorr072806.pdf

Notes: 

The package included: a $25 million in grant from the state; up to $70 million in loans from the state; state job tax credits potentially worth $2.25 million; and a $2.5 million property abatement from the county. In 2006, the Severstal announced an expansion but there are no reports on additional subsides. In 2014 Severstal sold the plant to Steel Dynamics. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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