Subsidy Tracker Individual Entry

Company: 
Schott Solar
Parent Company: 
Schott
Subsidy Source: 
multiple
Location: 
New Mexico
City: 
Albuquerque
Project Description: 

solar panel production facility

Year: 
2008
Major Industry of Parent: 
miscellaneous manufacturing
Subsidy Value: 
$130,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
1,500
Capital Investment: 
$100,000,000
Source of Data: 

The subsidy value and the jobs and investment projections came from: Andrew Webb, "Solar Firm Heads to Mesa del Sol," Albuquerque Journal, January 15, 2008.

Notes: 

The coverage of the announcement mentioned the following types of subsidies without giving dollar amounts for each: infrastructure assistance, state tax credits, job training funds, and property tax abatements via industrial revenue bonds. In June 2012 Schott announced that the plant was closing, by which time the state had disbursed about $16 million of its share of the subsidy package. The state was unable to recoup any of that amount, but the city was later reported to have collected about $5 million in clawbacks and penalties from the company (Dan Mayfield, "Berry: $5M Schott clawbacks could launch new eco devo fund," New Mexico Business Weekly, November 14, 2012. Overlaps with main Subsidy Tracker data: six entries for the Job Training Incentive Program totaling $2.5 million.

Source Notes: 
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