ANNOUNCEMENT 01 Jun 2013

In June 2013, 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. John Sharp, "Mobile government bodies endorse $800,000 of incentives for agri-chemical company," AL.com (May 28, 2013), available at: http://blog.al.com/live/2013/05/mobile_government_bodies_endor.html. The value of the tax abatements was taken from: Kelli Dugan, "Company invests $500M in plant," Mobile Register (September 11, 2013).


Inception date: 01 Jun 2013 | Removal date: open ended
Still in force

Tax or social insurance relief

In 2013 state and local governments in Alabama provided $429,500,000 in incentives to Bayer CropScience for an agri-chemical plant. About $396 million ($19.8 million for 20 years) will come from the Capital Income Tax Credit program. In addition, the city committed $300,000 and the county $500,000. The Mobile County Industrial Development Authority is also reported to have provided $32 million in 10-year tax abatements.
 
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