ANNOUNCEMENT 01 Jul 2012In July 2012, a US state government announced a targeted tax change.
NUMBER OF INTERVENTIONS
Main data from Good Jobs First at http://www.goodjobsfirst.org/sites/default/files/docs/Megadeals_February2015.xlsx. The estimated 25-year value of the subsidy was reported in Peter Jackson, "Proposed Shell tax break in Pa. worth $66M a year," Associated Press, (June 5, 2012) at http://www.businessweek.com/ap/2012-06/D9V713900.htm and Laura Olson, "Shell could get up to $1.65 billion in tax credits," Pittsburgh Post-Gazette (June 5, 2012).
In 2012 the Pennsylvania state legislature approved tax preferences for Royal Dutch Shell in order to attract an ethane cracker plant. The subsidy consisted of state tax credits worth $66 million per year over a 25-year period.
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".