Subsidy Tracker Individual Entry

Company: 
Boeing
Parent Company: 
Boeing
Subsidy Source: 
multiple
Location: 
South Carolina
City: 
North Charleston
County: 
Charleston
Project Description: 

aircraft assembly plant

Year: 
2009
Major Industry of Parent: 
aerospace and military contracting
Specific Industry of Parent: 
aerospace & military contracting
Subsidy Value: 
$900,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
3,800
Capital Investment: 
$750,000,000
Source of Data: 

The value and the breakdown of the subsidy package, and the jobs and investment projections are taken from: David Slade, "Boeing's whopping incentives," The Post and Courier, January 17, 2010, updated March 23, 2012; online at http://www.postandcourier.com/article/20100117/PC1602/301179958.

Notes: 

The $900 million comes from the estimate in the Post and Courier article, which the paper said was based on "conservative figures." It included: $306 million over 30 years in property tax abatements from Charleston County; state-issued bonds valued at $399 million; a business personal property tax exemption worth an estimated $100 million; and $33 million in training funds (part of which is listed separately in the main Subsidy Tracker data as a $13.3 million entry for readySC Training). Boeing was also potentially eligible for tax credits of up to $12,500 tax credit for each additional job created.

Source Notes: 
If an online information source is not working, check the Tracker inventory page for an updated link.