ANNOUNCEMENT 12 Jan 2015

In January 2015, a US state government announced a targeted tax change.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE



See the material cited in the text.


Inception date: No inception date

Tax or social insurance relief

The state government of Georgia provided incentives to persuade Mercedes-Benz to relocate its U.S. headquarters from the state of New Jersey. Mercedes has confirmed that it will move its U.S. division from Montvale, New Jersey to Atlanta, Georgia, bringing 800 to 1,000 jobs. The precise value and content of these incentives have not yet been made public, but on January 12, 2015 officials disclosed that the incentives to Mercedes-Benz USA include a $6 million grant through a 'deal closing' fund operated by the Regional Economic Business Assistance Program and administered by the Development Authority of Fulton County. Press accounts (see for example http://m.ajc.com/news/business/georgia-discloses-part-of-mercedes-incentive-packa/njmgR/) indicate that the total incentive package could include tax credits for jobs created and property tax abatements. A request that the Atlanta Journal-Constitution filed under the Georgia Open Records Act for full information about the full incentives package is still pending, with the Wall Street Journal reporting that it totals about $23 million in tax credits and other support. The company also has applied for a bond package with the county government that would provide for local property tax breaks on the campus.
 
 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A