ANNOUNCEMENT 10 Jul 2014

In July 2014, 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.
New Jersey Economic Development Authority agenda from July 10, 2014, available at: http://www.njeda.com/web/pdf/eda/agenda_07102014.pdf


Inception date: 10 Jul 2014 | Removal date: open ended
Still in force

Tax or social insurance relief

In 2014 state and local governments provided $260 million in incentives over 16 years to Holtec International for a nuclear reactor manufacturing facility. The funding comes from state's Grow New Jersey Assistance Program, a corporate business tax credit, and also includes a Camden-specific provision that allows the amount of available subsidies to be equal to the investment. The company has to invest $260 million before it can claim the subsidy. 
 
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

 

AFFECTED PRODUCTS