ANNOUNCEMENT 01 Dec 2014

In December 2014, 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.
Adam Sichko, 'Sorry, Chicago and Atlanta: When it came to Bridgestone HQ, Nashville played for keeps,' Nashville Business Journal (December 17, 2014), available at: http://www.bizjournals.com/nashville/blog/real-estate/2014/12/sorry-chicago-and-atlanta-when-it-came-to.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_national+%28Bizjournals+National+Feed%29 See also: Adam Sicho, 'New details point to bigger $100M incentives deal for Bridgestone,' Nashville Business Journal (Nov. 19, 2014), available at http://www.bizjournals.com/nashville/blog/real-estate/2014/11/new-details-point-to-bigger-100m-incentives-deal.html?s=print


Inception date: 01 Dec 2014 | Removal date: open ended
Still in force

Tax or social insurance relief

In 2014 state and local governments in Tennessee provided an incentives package to tire manufacturer Bridgestone Corporation to retain its heaquarters in the state. On the local level, the city granted Bridgestone 100 percent property tax abatements for 20 years estimated at $54.2 million. The city also provided a seven-year $500-per-job grant valued at $2.1 million. On the state level, the company was awarded a $15 million grant from the FastTrack program and various tax credits whose value has not been specified. 
 
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