Subsidy Tracker Individual Entry

Company: 
Micron Technology Inc.
Parent Company: 
Micron Technology
Subsidy Source: 
multiple
Location: 
Virginia
City: 
Manassas
Project Description: 

expansion of a semiconductor manufacturing facility and research park

Year: 
2018
Major Industry of Parent: 
electrical and electronic equipment
Specific Industry of Parent: 
semiconductors
Subsidy Value: 
$70,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
megadeal
Number of Jobs or Training Slots: 
1,100
Capital Investment: 
$3,000,000,000
Source of Data: 

The state incentives, company investment and the jobs number come from Matthew Barakat, "Memory chip maker Micron announces $3B expansion in Manassas," Associated Press State & Local, August 29, 2018. Micron incentive letter is available on the Manassas City Council's minutes and agenda webpage. See Nov. 19, 2018 agenda of city council meeting: http://manassascity.granicus.com/MediaPlayer.php?view_id=1&clip_id=398&m...

Notes: 

The incentive package includes a $70 million state performance grant paid over 15 years for the site and facilities preparation. The City of Manassas will use a special tax classification for semiconductor equipment, which according to an incentive offer letter from the city "saves Micron nearly $10,000,000 annually." Because we do not know value of the local future subsidies, we are not including the city's estimate in the total subsidy cost. See a related entry for Micron that uses the city's $10,000,000/year estimate to calculate the total of local subsidies over 15 years of the company's operation in the city. Overlaps with main Subsidy Tracker data: none.

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