Subsidy Tracker Individual Entry

Company: 
Marathon Petroleum
Parent Company: 
Marathon Petroleum
Subsidy Source: 
state
Location: 
Ohio
City: 
Findlay
Project Description: 

oil company headquarters

Year: 
2011
Major Industry of Parent: 
oil and gas
Specific Industry of Parent: 
oil & gas
Subsidy Value: 
$78,500,000
Program Name: 
multiple
Awarding Agency: 
Department of Development
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
1,750
Wage Data: 
$171 million
Wage Data Type: 
annual payroll
Capital Investment: 
$20,000,000
Source of Data: 

The value of the tax credits and the job, wage and investment projections were taken from: Thomas Suddes, "Tax breaks go to those who need them least," Columbus Dispatch, September 4, 2011 and Joe Vardon, "Corporate Giveaways? Marathon expanding with aid of tax breaks," Columbus Dispatch, July 1, 2011.

Notes: 

In 2011 Marathon Petroleum spun off from Marathon Oil. In exchange for retaining 1,650 jobs and creating 100 new jobs, Marathon Petroleum received a 75 percent, 15-year Job Retention Tax Credit valued at $72.1 million and a 60 percent, 10-year Job Creation Tax Credit valued at $6.4 million. The main Subsidy Tracker data lists the two awards separately in the two 2011 entries for the programs. Marathon Petroleum also received an unspecified amount through an exemption from the commercial activity tax.

Source Notes: 
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