August 4, 2017 / 8:01 PM / 3 years ago

Factbox: U.S. states woo automakers with $17 billion in subsidies since 1976

(Reuters) - Over the past 40 years U.S. states have been vying for new auto plants, with 17 states granting $17 billion in tax breaks, job training funds, infrastructure development and other incentives to woo investment from domestic and foreign automakers.

Here is a list of the subsidies, provided by Good Jobs First, a Washington-based research group.

Pennsylvania gave German automaker Volkswagen (VOWG_p.DE) $100 million in incentives in 1976 to locate its first U.S. factory in Westmoreland County.

Michigan, home to General Motors Co (GM.N), Ford Motor Co (F.N) and the U.S. unit of Fiat Chrysler Automobiles (FCHA.MI), has granted $7.8 billion since 1984 to the so-called Detroit Three, as well as to Mazda Motor Corp (7261.T), when it was still allied with Ford.

Far and away the largest subsidy was the $2.3 billion in state and local incentives given to GM in 2009 for its Orion Township plant north of Detroit, which builds the Chevrolet Bolt EV and the Sonic.

Nevada has provided $1.6 billion in incentives since 2014 to two relatively young automakers: $1.3 billion to Tesla Inc (TSLA.O) for its battery factory outside Reno and $335 million to would-be manufacturer Faraday Future for a since-canceled plant north of Las Vegas.

Mississippi and Tennessee have provided $1.6 billion and $1.3 billion, respectively, in subsidies to Toyota Motor Corp (7203.T), Nissan Motor Co (7201.T) and VW.

Nissan has solicited $1.8 billion in subsidies from both Mississippi and Tennessee. Toyota has pulled $836 million from Mississippi, Texas and Kentucky, while Honda Motor Co (7267.T) won $389 million from Alabama and Indiana.

Korean automaker Hyundai Motor Co (005380.KS), which controls Kia Motors Corp (000270.KS), has received $645 million in total from Alabama and Georgia.

German automaker Mercedes-Benz, a unit of Daimler AG (000270.KS), received $457 million from Alabama and BMW (BMWG.DE) $254 million from South Carolina.

Reporting by Paul Lienert in Detroit; Editing by Meredith Mazzilli

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below