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