ANNOUNCEMENT 01 Jan 2014

In January 2014, a US state government announced a targeted tax change.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE



Main data from Good Jobs First at http://www.goodjobsfirst.org/sites/default/files/docs/Megadeals_February2015.xlsx. See also the source in the description.


Inception date: 01 Jan 2014 | Removal date: open ended
Still in force

Tax or social insurance relief

In an agreement reached in 2014 with the state of Louisiana, Cheniere Energy Inc. will expand its Sabine Press liquefied natural gas export facility in Cameron Parish. The company will utilize Louisiana's Quality Jobs and Industrial Tax Exemption Program incentives on the project. According to data posted http://www.goodjobsfirst.org/sites/default/files/docs/pdf/megadeals_report.pdf the estimated ten-year value of the tax exemption is $1,689,328,873.
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".

AFFECTED SECTORS