ANNOUNCEMENT 01 Oct 2012

In October 2012, a US state government announced a targeted tax change.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

http://www.iowaeconomicdevelopment.com/Reports/FY14Report


Main data from Good Jobs First at http://www.goodjobsfirst.org/sites/default/files/docs/Megadeals_February2015.xlsx.
Donnelle Eller, "More tax credits bring fertilizer plant to Iowa," Des Moines Register (September 6, 2012) and Mike Wiser, "Fertilizer plant sets record for tax breaks," Quad-City Times (September 6, 2012)

Inception date: 01 Oct 2012 | Removal date: open ended
Still in force

Tax or social insurance relief

In 2012 state and local governments in Iowa provided an incentives package to Orascom Construction Industries for a fertiliser plant. It consisted of state tax credits worth up to $107 million; other state assistance worth about $11 million; and a county property tax abatement worth an estimated $133 million. 
 
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.

AFFECTED SECTORS