Subsidy Tracker Individual Entry

Company: 
Fidelity Investments
Parent Company: 
Fidelity Investments
Subsidy Source: 
multiple
Location: 
North Carolina
City: 
Research Triangle Park
County: 
Wake
Project Description: 

expansion of investment company facility

Year: 
2006
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Subsidy Value: 
$87,200,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
2,000
Wage Data: 
$58400
Wage Data Type: 
average annual salary
Capital Investment: 
$100,000,000
Source of Data: 

The values of the Job Development Investment Grant and the One North Carolina Grant are taken from the 2010 Economic Development Grant Report issued by the North Carolina Department of Commerce, pp. 5 and 15; available online at: http://www.nccommerce.com/Portals/0/Research/IncentiveReports/2010%20NCD.... The value of the remaining subsidies and the job, wage and investment projections are taken from: "Fidelity to add 2,000 jobs in the Triangle," Charlotte Business Journal, August 2, 2006.

Notes: 

In 2006 Fidelity announced it would build a new facility in Research Triangle Park. In exchange, the state agreed to provide the company a Job Development Investment Grant worth up to $72.8 million over 12 years; $4.6 million in training funds; $3.8 million in sales tax refunds on building materials; and a $2 million grant from the One North Carolina Fund. In addition to the state subsidies, Wake County committed $4 million in grants and infrastructure improvements. The main Subsidy Tracker data separately lists the Job Development grant in a 2006 entry and the One NC grant in a 2010 entry.

Source Notes: 
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