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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
Subsidy Value in 2023 Dollars: $66,344,006
Program Name: tax increment financing
Awarding Agency: Milwaukee Common Council
Type of Subsidy: 
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: (click here). 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: If an online information source is not working, check the Tracker inventory page for an updated link.