ANNOUNCEMENT 01 Jan 2013In January 2013, a US state government announced a targeted tax change.
NUMBER OF INTERVENTIONS
In an agreement reached in 2012 with the state of Louisiana, CF Industries Nitrogen, LLC will expand its facilities in Ascension Parish, installing a new operating unit to increase the site's total nitrogen capacity. The company will utilize Louisiana's Quality Jobs and Industrial Tax Exemption Program incentives on the project. According to data posted by the Louisiana Commerce & Industry Board disclosure site at http://www.opportunitylouisiana.com/assets/LED/docs/Performance_Reporting/2013_CI_Board_Approvals.pdf the estimated ten-year value of the tax exemption is $360,380,700.
The Quality Jobs Program contains requirements to hire additionalstaff locally as well as commitments that a minimum percentage of plantrevenues are derived from meeting orders out of state including, inprinciple, export orders.
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.
As no official source could be obtained, this measure is coded "amber".