Subsidy Tracker Individual Entry

Company: 
Canoo
Parent Company: 
Canoo Inc.
Subsidy Source: 
multiple
Location: 
Oklahoma
City: 
Pryor Creek
County: 
Mayes
Project Description: 

EV manufacturing facility

Year: 
2021
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
electric vehicles
Subsidy Value: 
$300,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
2,000
Source of Data: 

The Reuters article quoting Canoo CEO: Ben Klayman, "U.S. electric vehicle startup Canoo to build plant in Oklahoma," Reuters, June 17, 2021, https://www.reuters.com/business/autos-transportation/canoo-picks-oklaho.... The Frontier article outlining land and infrastructure subsidies: Brianna Bailey, "Land and millions of dollars for infrastructure are part of a deal to lure a startup electric car maker to Oklahoma," The Frontier, October 13, 2021, https://www.readfrontier.org/stories/land-and-millions-of-dollars-for-in... see the article appendix breaking down subsidies: https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:d78e8ca... NDA at https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:20987bf.... See also Canoo June 17, 2021 press release: https://www.press.canoo.com/press-release/milestone-met-canoo-selects-ok...

Notes: 

In June 2021, Canoo, an electric vehicle start-up company, announced plans to build a facility at MidAmerica Industrial Park near Tulsa. Canoo CEO Tony Aquila told Reuters at the time of the announcement that the state is providing Canoo more than $300 million in tax incentives. In October 2021, The Frontier, an independent online news organization, published an article based on document obtained via FOIA request, outlining $99.3 million in up-front subsidies offered to the company by the state-run MidAmerica Industrial Park: $61.8 million in cash and land development assistance and $37.4 million in infrastructure preparation. No additional information on remaining subsidies has been disclosed, so we are using the $300 million figure. The Oklahoma Department of Commerce signed an NDA with the company. Overlaps with main data: none.

Source Notes: 
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