ANNOUNCEMENT 15 Jul 2010

In July 2010, a US state government announced a change in private-sector financial support.

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. Jason Noble, "Missouri governor today will sign bill for $150 million in automaker tax breaks," The Kansas City Star (July 15, 2010)
For details on the Missouri Automotive Manufacturing Jobs Act, see July 15, 2010 press release issued by Gov. Jay Nixon; available online at: http://governor.mo.gov/newsroom/2010/House_Bill_2


Inception date: 15 Jul 2010 | Removal date: open ended
Still in force

Tax or social insurance relief

In July, 2010, the Missouri state legislature passed and Governor Nixon signed the Missouri Automotive Manufacturing Jobs Act. The program was created to encourage Ford Motor to retain 3,900 jobs at the Claycomo plant. Ford became eligible to retain $15 million per year, or $150 million over 10 years, in workers' withholding taxes. Ford's suppliers also became eligible for the program. 
 
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