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Subsidy Tracker Individual Entry

Company: 
Toyota
Parent Company: 
Toyota
Subsidy Source: 
multiple
Location: 
Mississippi
County: 
Pontotoc, Union And Lee
Project Description: 

automobile assembly plant

Year: 
2007
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
motor vehicles
Subsidy Value: 
$354,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
2,000
Wage Data: 
$20
Wage Data Type: 
maximum hourly wage
Capital Investment: 
$1,300,000,000
Source of Data: 

The value and the breakdown of the subsidy package, the jobs and investment projections, and the wage data are taken from: Laura Hipp, "Toyota Mississippi," The Clarion-Ledger, March 3, 2007.

Notes: 

The $354 million subsidy package included $294 million from the state and $60 million from Pontotoc, Union and Lee counties. The state package included: $57.6 million for road improvement; $30 million for rail upgrades; $80 million for worker training; $50 million for site preparation; and unspecified amounts from a 20-year exemption from state income taxes, a 3.5 percent rebate on payroll taxes and sales tax exemptions on equipment . (The main Subsidy Tracker data includes a portion of the state subsidy as a 2012 entry for the Major Economic Impact Act valued at $36,139,267). The state subsidy package also included $30 million in training funds for Toyota's top suppliers, not included in the total.

Source Notes: 
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