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Subsidy Tracker Individual Entry

Company: Nucor
Parent Company: Nucor
Subsidy Source: state
Location: West Virginia
County: Mason
Project Description: steel mill
Year: 2022
Major Industry of Parent: metals
Specific Industry of Parent: steel
Subsidy Value: $1,700,000,000
Program Name: Special legislation - Nucor
Awarding Agency: West Virginia Legislature
Type of Subsidy: 
Number of Jobs or Training Slots: 550
Wage Data: $44,000,000
Wage Data Type: total payroll
Capital Investment: $2,700,000,000
Source of Data: The Memorandum of Understanding between West Virgina Economic Development and Nucor Corporation, signed 1/11/22, online at (click here). West Virginia Legislature, SB 1001, passed 01/11/2022: (click here). See also: A January 14, 222 press release by West Virginia Center on Budget and Policy, Policy Matters Ohio, Kentucky Center for Economic Policy, and Good Jobs First, "Watchdog Groups: West Virginia's $1.7 Billion for Nucor is a Boon for Neighboring Ohio and Kentucky," (click here)
Notes: Year is year when incentives were announced. Subsidy value includes the statutory 50% tax credit for qualified manufacturing investment (assumed to be the full $2.7 billion investment figure) which comes to $1.35 billion in tax credits as well as $315,000,000 in Economic Development Financial Assistance as outlined in a memo between the West Virginia Department of Economic Development and Nucor. Overlaps with main data: none.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.