ANNOUNCEMENT 01 Jul 2009In July 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.
The value of the Industrial Tax Exemption and the jobs and investment figures were taken from the 2009 "Board of Commerce & Industry Incentive Approvals" report, p. 132; available online at: http://louisianaeconomicdevelopment.com/additional-resources/performance-reporting.cfm.
In 2009 the state of Louisiana provided incentives for Shintech's PVC (polyvinyl chloride) plant. No subsidy amounts were indicated when the project was announced in 2005, but it was stated that Shintech would make use of property tax abatements, sales tax exemptions and Quality Jobs subsidies. The abatement amount was then approved in 2009 and later disclosed. The value of the subsidy is estimated to be $153,381,115.
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.