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:
If an online information source is not working, check the Tracker inventory page for an updated link.
