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 Program Name: multiple Awarding Agency: Department of Economic and Community Development Type of Subsidy:
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.