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Subsidy Tracker Individual Entry

Company: Volkswagen
Parent Company: Volkswagen
Subsidy Source: multiple
Location: Tennessee
City: Chattanooga
County: Hamilton
Project Description: automobile assembly plant
Year: 2008
Major Industry of Parent: motor vehicles
Specific Industry of Parent: motor vehicles
Subsidy Value: $554,000,000
Subsidy Value in 2023 Dollars: $788,195,693
Program Name: multiple
Awarding Agency: Department of Economic and Community Development
Type of Subsidy: 
MEGADEAL

Number of Jobs or Training Slots: 2,000
Capital Investment: $1,000,000,000
Source of Data: The value and the breakdown of the subsidy package, and the jobs and investment projections are taken from: G. Chambers Williams III, "Volkswagen lured to state with $577 million in incentives," The Tennessean, August 30, 2008.
Notes: The package included: $229 million from the state for training costs and infrastructure; $86 million in land and site improvements from the city and the county; state tax credits worth $106 million over 30 years; and local tax abatements worth $133 million over the same period. The company also received $22 million from the federal government, which is not included in the total here. The local property tax abatements are listed separately in the main Subsidy Tracker data under County PILOT agreements but without dollar amounts.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.