Subsidy Tracker Individual Entry

Company: 
Goodyear
Parent Company: 
Goodyear Tire & Rubber
Subsidy Source: 
multiple
Location: 
Ohio
City: 
Akron
County: 
Summit
Project Description: 

headquarters retention

Year: 
2007
Major Industry of Parent: 
automotive parts
Specific Industry of Parent: 
automotive parts-tires
Subsidy Value: 
$152,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Source of Data: 

Tax credits and low cost loan reported by Mark Naymik, "Fisher's stamp is on efforts to save, create jobs in Ohio," Cleveland Plain Dealer, October 16, 2010. TIF subsidy and property contribution reported by Phil Trexler and Rick Armon, "Goodyear plan gets green lights," Akron Beacon Journal, December 11, 2007.

Notes: 

Total subsidy value included $98 million TIF contributed by Akron, state awards in the form of a $20 million low cost loan and $30 million worth of tax credits, a $2 million training grant, and a $2 million property contribution by Akron. After the project's developer, Industrial Realty Group, admitted it was having difficulty obtaining private financing, the Summit County Port Authority agreed to issue $17 million in taxable, short-term bonds. In 2010 the city of Akron and Summit County together agreed to make available up to $42 million in federally authorized Recovery Zone Facility Bonds. The main Subsidy Tracker data contains two Workforce Development Initiative entries totaling $252,500.

Source Notes: 
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