ANNOUNCEMENT 01 Apr 2009

In April 2009, 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. Values from David Slade, "Boeing's whopping incentives," The Post and Courier (January 17, 2010, updated March 23, 2012), available online at http://www.postandcourier.com/article/20100117/PC1602/301179958


Inception date: 01 Apr 2009 | Removal date: 25 Mar 2039
Still in force

Tax or social insurance relief

State and local governments in Charleston, South Carolina provided $900 million in incentives to Boeing in 2009 to attract an aircraft assembly plant. The components of the package included $306 million over 30 years in property tax abatements from Charleston County; state-issued bonds valued at $399 million; a business personal property tax exemption worth an estimated $100 million; and $33 million in training funds. Boeing was also potentially eligible for tax credits of up to $12,500 tax credit for each additional job created. 
 
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.
As no official source could be obtained, this measure is coded "amber".

AFFECTED SECTORS