ANNOUNCEMENT 14 Apr 2009In April 2009, a US state government announced a targeted tax change.
NUMBER OF INTERVENTIONS
Main data from Good Jobs First at http://www.goodjobsfirst.org/sites/default/files/docs/Megadeals_February2015.xlsx.
April 14, 2009 press release issued by the office of then-Gov. Jennifer Granholm; the additional battery tax credit figure came from a February 25, 2010 press release issued by the governor's office. The Renaissance Zone tax break figures came from a report to the Midland City Council dated January 6, 2010; online at http://www.midland-mi.org/government/council/meetings/agenda/2010/Packets/01-11-10/Item 6.pdf
In 2009 state and local governments in Michigan provided incentives to battery manufacturer Dow Kokam. The subsidies included: $100 million in state battery tax credits; $44.6 million in MEGA tax credits; $42 million in additional battery tax credits; $4.3 million in Renaissance Zone property tax abatements; and $3.4 million in Renaissance Zone Michigan Business Tax breaks.
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.