ANNOUNCEMENT 01 Jul 2011

In July 2011, a US state government announced a targeted tax change.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE



Main data from Good Jobs First at http://www.goodjobsfirst.org/sites/default/files/docs/Megadeals_February2015.xlsx.
Mark Scheer, "Norampac bringing $430M plant to the Falls," Niagara Gazette (June 28, 2011)


Inception date: 01 Jul 2011 | Removal date: open ended
Still in force

Tax or social insurance relief

In 2011 state and local governments in New York provided an incentives package to Norampac Industries (a division of Canada's Cascades Inc.) for a packaging material manufacturing plant. The package included $60 million in brownfield tax credits; $5 million in Empire Zone tax credits; a $3.5 million state grant to improve energy efficiency at the plant; and low-cost hydropower from the New York Power Authority. The company also received assistance of unspecified amounts from the Niagara Falls Water Board and a 20-year PILOT agreement. 
 
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.
 
As no official source could be obtained, this measure is coded "amber".

AFFECTED SECTORS