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: 
MEGADEAL
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 http://www.virdia.com/images/press/virdia_for%20wire_%20march%206.pdf. 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: 
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