ANNOUNCEMENT 21 May 2015

In May 2015, a local US government announced a targeted tax change.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 21 May 2015 | Removal date: open ended

Tax or social insurance relief

On May 21, 2015 the Tuscaloosa County Industrial Development Authority agreed to give additional property tax abatements to Mercedes-Benz to offset plant expansion costs that doubled from the original estimate. It increased the value of the company's tax abatements to about $28.1 million, up from the $12.5 million approved in 2011. The Tuscaloosa News reports the extra tax breaks were awarded to Mercedes after it spent $670 million expanding its Alabama plant. The authority also approved an additional $1.1 million in tax abatements for Mercedes to help offset the cost of site preparation work for potential future expansion.

AFFECTED SECTORS