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Subsidy Tracker Individual Entry

Company: Virdia (formerly HCL Cleantech)
Parent Company: Stora Enso
Subsidy Source: state
Location: Mississippi
Project Description: biofuel facility
Year: 2012
Major Industry of Parent: paper and packaging
Specific Industry of Parent: paper & packaging
Subsidy Value: $230,000,000
Program Name: multiple
Awarding Agency: Mississippi Development Authority
Type of Subsidy: 
Capital Investment: $1,000,000,000
Source of Data: The subsidy value and breakdown were cited in a March 6, 2012 press release issued by the company; online at (click here). The investment projection was cited in: Ted Carter, "Virdia secures loan commitment, starts search for biofuels site in Mississippi," Mississippi Business Journal, March 25, 2012.
Notes: The subsidies include a $75 million low-cost loan from the Mississippi Development Authority and what the company said would be "up to $155 million in various tax incentives over a 10-year period." The latter has not been reported elsewhere. The company has not yet announced the exact site of the facility. Overlaps with main Subsidy Tracker data: none.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.