Updated proposal to Electrolux on Nov. 17, 2010 - $200.9 million in subsidiesReportar como inadecuado



 Updated proposal to Electrolux on Nov. 17, 2010 - $200.9 million in subsidies


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The state government made this updated proposal to Electrolux as it tried to convince the company to pick Memphis instead of going elsewhere. Governments offered a total of $200.9 million in subsidies. Some of the numbers would later change. Notably, the state government offered Electrolux an estimated $41.3 million in tax breaks. It’s unclear if Electrolux would qualify for all the state tax breaks offered. For instance, the Super Job Tax Credit is for jobs that pay at least 100 percent of the state’s average occupational wage. Electrolux has said it plans to pay workers an average of $14.65 per hour, or $30,472 per year, which is below the threshold cited in this report. Department of Revenue spokesman Billy Trout wouldn’t confirm how many of the state tax breaks Electrolux has qualified for, saying that the law blocks him from talking about individual taxpayers. Also in the Nov. 17 proposal, the Tennessee Valley Authority offered an additional $5 million in grants, loans and other incentives on top of a $1.5 million grant that’s been made public. TVA spokesman Mike Bradley wouldn’t talk about the additional subsidies, calling them -client confidential.- Again, it’s unclear if Electrolux will qualify for all of them.

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Autor: Prepared by the Tennessee Department of Economic and Community Development

Fuente: https://archive.org/







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