Sentences with phrase «subsidy package»
A subsidy package refers to a collection of financial incentives or support provided by the government or an organization to help a particular industry, business, or group of people. It typically includes grants, tax breaks, low-interest loans, or other financial support measures to encourage growth or offset costs. Full definition
Exelon agreed to buy FitzPatrick in august after New York state passed a comprehensive clean energy plan, called the Clean Energy Standard, that included a massive subsidy package for financially struggling nuclear plants.
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But one of those companies, HarkerBIO, is receiving its own generous subsidy package through the StartUp New York program, under which the company will pay no state or local taxes for 10 years.
David Kinyon, executive director of the Lockport Industrial Development Agency, said the «very aggressive» subsidy package given to Yahoo was «necessary given the significance of the Yahoo investment» and «to attract the level of investment and job creation.»
It turns out that Volkswagen, which has created fewer than 2100 jobs so far, got the largest subsidy package ever given to a foreign manufacturer — 1350 acres in free land, a reported $ 577.4 million in tax breaks and assistance, and $ 40 million for training workers.
Critics of Amazon's approach said it would set off a race to the bottom, with cities and states trying to offer the biggest subsidy packages they could muster.
But even from her party perch, Miner called out Cuomo for his approach to fiscally stressed cities (they should seek savings and consolidation instead of handouts) and direct capital investments to large business subsidy packages as opposed to broader - based infrastructure projects.
The project's original subsidy package claimed the building site was a brownfield because one corner of the property used to house a gas station with underground fuel tanks, On that basis, Uniland and Delaware North sought state tax credits that would have seen the state pay 100 percent of the project's property taxes for 10 years.
Delaware North is now seeking an even richer subsidy package to move its offices two blocks west to the corner of Delaware Avenue and Chippewa Street.
Company executives said that China, a key market for the product made at the factory, also offered a lucrative subsidy package for the plant.
The state's top economic development official, Howard Zemsky, has crafted an incentive or subsidy package for Amazon, although state officials declined to release details because of the competitive nature of the contest.
Susan Arbetter of Capitol Pressroom interviewed Jim Heaney on Thursday about the recent deal in which New York State agreed to increase its already generous subsidy package to Alcoa's plant in Massena.
Last year the Washington State Legislature approved a massive $ 8.7 billion subsidy package — the largest in U.S. history — to win a Boeing assembly plant for the extended - range version of its 777 aircraft.
A subsidy package worth an estimated $ 240 million helped persuade Yahoo to come to Western New York when the company was looking for a location for its East Coast data center in 2009.
Liu said the agency had not justified the size of the subsidy package, which when totaled will be close to $ 90 million, Liu said, making it the largest the city has offered in recent years.
I testify today in favor of Freshdirect's move to The Bronx, and in favor of the subsidy package the State has presented to the company.
NEW YORK — John Catsimatidis, the billionaire Gristedes supermarkets owner, has joined an outraged group of grocers who object to the nearly $ 130 million subsidy package that FreshDirect is likely to receive from the city, calling it a misuse of public funds that puts smaller competitors at a disadvantage.
The payroll tax emerged after months of rancorous talks about a subsidy package for the Metropolitan Transportation Authority when a plan to impose tolls on the East River bridges was defeated amid opposition from some Democrats in the state Senate.
Uniland and Delaware North officials have tried to portray the subsidy package they are seeking as the «standard benefit programs available to other companies,» according to Dan Zimmer, vice president of finance for Delaware North.
By comparison, the subsidy package cobbled together to lure the Yahoo! data center in Lockport five years ago involved $ 58 million of incentives and 125 jobs — or a whopping $ 2.1 million per job.
«It's sort of a blank check... the plants just get more expensive to operate,» Tim Judson, executive director of the Nuclear Information and Resource Service, told Utility Dive after plans for the subsidy package wre first announced.