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MegadealsSubsidy 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
Subsidy Value in 2023 Dollars: $1,770,127,462
Program Name: Special legislation - Nucor
Awarding Agency: West Virginia Legislature
Type of Subsidy:
MEGADEAL
![Megadeal is the designation we give to our list of subsidy awards worth at least $50 million going back as far as the late 1970s (in January 2024, we increased the threshold from $50 million to $100 million). Many of them are packages involving multiple state and local subsidies. We created the list to fill gaps in the official disclosure data that make up the bulk of the content in Subsidy Tracker. Megadeal entries thus rely on a wide variety of information sources. In some cases these entries overlap entries from specific subsidy programs. In those instances the dollar totals on the Parent Summary Pages and the State Summary Pages are adjusted to avoid double-counting.](https://subsidytracker.goodjobsfirst.org/resources/images/qmark.gif)
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.