Posts Tagged Megadeal

Oct
7
2021

Ford Announces Giant Electric Vehicle Plant in Western Tennessee

On September 27, Ford Motor Company announced plans to invest $5.6 billion at the Memphis Regional Megasite in Stanton, Tennessee, to build an electric vehicle (EV) assembly and battery plant, jointly with SK Innovation. The facility, dubbed “Blue Oval City” by Ford (in a reference to its corporate logo), is projected to employ 5,800 people as Ford makes its first big foray into EV production. The same week, Ford and SK Innovation revealed plans for two more battery plants in Glendale, Kentucky, south of Louisville, at an estimated cost of $5.8 billion.

Jul
9
2021

Economy Hums, Yet States Keep Lavishing Nine-Figure Subsidy Megadeals on Corporations

$450 million to Centene Corp. $845 million to Apple. $8.1 BILLION to a tech park. It makes no sense: politicians just keep giving away the store, oblivious to economic realities. Why? Because they inhabit a rigged system that strips them of their ability to act as rational market participants.

Feb
21
2020

Wow! Boeing Asks for End of Washington State Subsidies

Boeing Corporation has requested that the state of Washington stop providing it with tax breaks that the World Trade Organization (WTO) has on multiple occasions ruled to be an illegal subsidy under the Agreement on Subsidies and Countervailing Measures.

Jul
28
2017

Is Foxconn a Con?

It’s common for governors to stage publicity events to announce major job-creating investments in their state. This allows them to take implicit credit for a project that was probably helped along with tax breaks and other financial giveaways. When it came to the Taiwanese company Foxconn’s plan to build a $10 billion flat-screen plant in Wisconsin, the hype was taken to a new level.

May
18
2015

Supported By a Megadeal, Volvo Choses South Carolina

Swedish automaker Volvo has chosen South Carolina over Georgia and North Carolina for its first car-making facility in the United States. A hefty subsidy package of more than $200 million helped the state close the deal.