ANNOUNCEMENT 10 Nov 2014

In November 2014, a US state government announced a targeted tax change.

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.
Agenda for a board meeting of New Jersey's Economic Development Authority on November 10, 2014; available online at: http://www.njeda.com/web/pdf/11102014_Agenda.pdf See also: Jim Walsh, 'Lockheed Martin wins approval for tax breaks,' Courier-Post (November 11, 2014), online at: http://www.courierpostonline.com/story/news/local/south-jersey/2014/11/10/lockheed-martin-wins-tax-break-approval/18803597/


Inception date: 10 Nov 2014 | Removal date: open ended
Still in force

Tax or social insurance relief

In 2014 the New Jersey Economic Development Authority provided an incentives package to Lockheed Martin for the Relocation of laboratory facilities from another location in the state. The subsidy amounted to $107 million in tax credits over 10 years. The company will move two facilities from Moorestown, NJ to Camden, NJ. 
 
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

 

AFFECTED PRODUCTS

 
N/A