Subsidy Tracker Individual Entry

Company: 
GEICO
Parent Company: 
Berkshire Hathaway
Subsidy Source: 
multiple
Location: 
New York
City: 
Amherst
Project Description: 

customer service center

Year: 
2003
Major Industry of Parent: 
diversified
Specific Industry of Parent: 
diversified
Subsidy Value: 
$102,400,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
2,500
Source of Data: 

The subsidy value and breakdown as well as the jobs and investment projections came from: Sharon Linstedt, "GEICO Makes Move to WNY Official," Buffalo News, December 23, 2003.

Notes: 

The package included: $100 million in Empire Zone corporate income tax credits; $1.4 million in utility reductions from the New York State Power Authority; and a $1 million grant from the Empire State Development Corp. to defer the costs of equipping and furnishing the facility. In 2009 GEICO received an additional $1 million sales tax exemption in connection with an expansion of the facility (Jonathan Epstein, "Amherst IDA OKs incentives for GEICO," Buffalo News, August 22, 2009). Portions of the awards are listed separately in the main Subsidy Tracker data in Industrial Development Agency entries.

Source Notes: 
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