Subsidy Tracker Individual Entry

Company: 
Ford Motor
Parent Company: 
Ford Motor
Subsidy Source: 
state
Location: 
Ohio
City: 
Avon Lake
Project Description: 

new assembly line at auto plant

Year: 
2002
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
motor vehicles
Subsidy Value: 
$83,400,000
Program Name: 
multiple
Awarding Agency: 
Department of Development
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
2,000
Capital Investment: 
$140,000,000
Source of Data: 

The subsidy value and breakdown as well as the job and investment figures came from: Ted Wendling, "State offers $83 million to retain; Ford plant would keep jobs in Avon Lake," April 27, 2002.

Notes: 

The state package was offered in exchange for Ford's commitment to invest $140 million in the plant for a new SUV assembly line while recalling 800 laid-off workers and retaining 1,200 others. It included: a $16 million infrastructure grant; a $3.5 million training grant; a $16.2 million Job Creation Tax Credit; a $24.3 million Job Retention Tax Credit; a $10.5 million tax credit on new equipment; and a $12.9 million enterprise-zone property tax exemption. When Ford later tried to reduce its job commitment by more than half, the state threatened to slash the subsidy package. Ford backed down and reaffirmed the full commitment. See "Ford agrees to keep 2,000 jobs at Avon Lake plant," Associated Press, August 23, 2002. 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.