Study says Nissan subsidies total $1.33B; MDA says overestimated
Published: May 17,2013
Tags: automaker, automobile, automotive industry, corporate welfare, economic development, incentive, labor, manufacture, manufacturer, manufacturing, organized labor, report, state agency, state government, study, subsidy, tax, tax break, union
CANTON — A study paid for by the United Auto Workers finds state and local governments may provide Nissan Motor Co.’s Mississippi plant with nearly $850 million in tax breaks over 30 years, plus $400 million in cash aid.
The report estimates Mississippi will pay $90 million in interest on money borrowed to aid Nissan, bringing total subsidies to $1.33 billion.
Conducted by Good Jobs First, the study was released today by a group asking Nissan to let the UAW court workers without company opposition. An advance copy was provided to The Associated Press.
Kathy Gelston of the Mississippi Development Authority says the report overestimates tax subsidies, and says if Mississippi hadn’t aided Nissan, there would be no taxes to collect.
A Nissan spokesman says the company will respond later.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Study says Nissan subsidies total $1.33B; MDA says overestimated”
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- TECH 21 — Mississippi's most wanted in technology
- Circuit clerks question how to get records to McDaniel's trial
- PEDIGREE dog food recalled; might contain metal fragments
- Officials set hunting dates for birds; expands dove season by 20 days
- R.J. Allen ranked as fastest-growing company in Mississippi
- Judicial candidates put on ballot after rejection of challenges
- Tragedy for Jackson Prep: Football player Walker Wilbanks dies
- MSU receives funding for two proposals aimed at boosting NASA missions
- DAVID DALLAS — Mississippi needs one university