ANNOUNCEMENT 01 Aug 2014In August 2014, a US state government announced a targeted tax change.
NUMBER OF INTERVENTIONS
Volkswagen is receiving substantial assistance from state and local governments as an incentive for the location of a 2000-job expansion in an existing factory. The city of Chattanooga, Tennessee and the government of Hamilton County will provide a combined $52.5 million in upfront cash in 2014, in addition to $177.8 million of grants and training assistance pledged by the state of Tennessee to be provided for the project in fiscal 2015. Combined with property tax breaks and assistance from the Tennessee Valley Authority, nearly half of the cost for VW's $600 million plant expansion will be paid for by government taxpayers and ratepayers.