ANNOUNCED AS TEMPORARYNo
Tax or social insurance relief
State and local governments in Montgomery County, Tennessee provided $479,400,000 in incentives to Hemlock Semiconductor in late 2008 for a polycrystalline silicon plant. The state portion of the package included $95 million to construct the plant; $6 million for workforce development (provided by Austin Peay State University); and an estimated $280 million in potential tax credits. The local subsidies included up to $77.8 million in property tax abatements and $20.6 million in other incentives. The company also received a $60.5 million grant from the federal Tennessee Valley Authority.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
⚑ Please report this page in case you detect an inaccuracy in its content.