ANNOUNCEMENT 26 Oct 2010

In October 2010, a US state government announced a targeted tax change.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Main data from Good Jobs First at http://www.goodjobsfirst.org/sites/default/files/docs/Megadeals_February2015.xlsx. The subsidy amount and jobs projection (including both new and retained positions) came from an October 26, 2010 press release issued by the Michigan Economic Development Corporation; online at http://www.michiganadvantage.org/Press-Releases/Governor-Granholm-Announces-Historic-Investment-in-Michigan/


Inception date: 26 Oct 2010 | Removal date: open ended
Still in force

Tax or social insurance relief

In 2010 the state of Michigan provided $909 million in tax credits to the Ford Motor Company that was, according to a Michigan Economic Development Corporation press release, intended to "encourage the company to expand in Michigan over competing sites in India, South Africa, Europe and Asia." 
 
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.

AFFECTED SECTORS