ANNOUNCEMENT 01 Jul 2009In July 2009, 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 subsidy amount is from Greg Gardner, "Tax help, support sway GM," Detroit Free Press (June 27, 2009)
In 2009 the state of Michigan provided $1,015,500,000 in tax credits and other support to General Motors (GM). The package was offered to get GM to produce its next small cars at its Orion Township plant. It included a 20-year, $779 million tax credit; $136.5 million from the county to pay for training; and a 25-year, 100 percent personal property tax abatement worth an estimated $100 million.
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.