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
Top Posts & Pages
- David Duval, former British Open winner, joins Sanderson Farms field
- Court rules against Greenwood councilwoman; must give up office
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- Cochran continues to reach out to African American voters
- ‘Little Boogaloo’ Eden Brent happy singing the blues
- Alcorn president launches new customer service task force
- Turner Grain’s bankruptcy will help consolidate lawsuits alleging breach of contract
- Hole-by-hole look at Sanderson Farms Championship course at CCJ
- Senators write letter over Waters of the United States proposal