Subsidy Tracker Individual Entry
Company:
Northwestern Mutual Life Insurance
Parent Company:
Northwestern Mutual
Subsidy Source:
local
Location:
Wisconsin
City:
Milwaukee
Project Description:
downtown office tower for insurance company
Year:
2013
Major Industry of Parent:
financial services
Specific Industry of Parent:
insurance
Subsidy Value:
$50,500,000
Program Name:
tax increment financing
Awarding Agency:
Milwaukee Common Council
Type of Subsidy:
MEGADEAL 
Number of Jobs or Training Slots:
1,900
Capital Investment:
$400,000,000
Source of Data:
The subsidy, job and investment details came from: Tom Daykin, "Financing plan wins approval," Milwaukee Journal Sentinel, May 1, 2013. See also TID 78, Northwestern Mutual Life Insurance Co. Periodic Report dated 12/31/15, available at: http://city.milwaukee.gov/ImageLibrary/Groups/cityDCD/business/TIF/2015-.... Workforce development information came from Beth Kevit, "Workforce development program would ensure locals build Northwestern tower in Milwaukee," The Daily Reporter (Milwaukee, WI), May 14, 2014.
Notes:
The subsidy package awarded the company property tax rebates of $50 million over 25 years through the creation of a TIF district. The TIF revenue was also to be used for $22 million in infrastructure improvements near the building; these are not included in the subsidy total. The Wisconsin Regional Training Partnership Inc. provided a four-year $500,000 workforce development training program. Overlaps with main Subsidy Tracker data: a 2013 $50 million entry for the company for TIF.
Source Notes:
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