Foreign Auto Plants Have Received $3.6 Billion in Subsidies, Mostly From Southern States

[bobd0]

$3.6 billion in subsidies for foreign auto makers, and keep in mind, "These data, drawn primarily from contemporary media accounts, are very conservative."

Southern Republican traitors.

http://news.yahoo.com/s/usnw/20081212/pl_usnw/foreign_auto_plants_have_received3_6_billion_in_subsidies__mostly_from_southern_states

Foreign Auto Plants Have Received $3.6 Billion in Subsidies, Mostly From Southern States

Fri Dec 12, 2:57 pm ET

To: STATE EDITORS

Contact: Greg LeRoy of Good Jobs First, [phone], ext. 211

WASHINGTON, Dec. 12 /PRNewswire-USNewswire/ -- Responding to many queries, Good Jobs First today released its summary of state and local subsidies given to foreign-owned auto assembly plants, totaling $3.6 billion.

"As elected officials debate aid for the Big 3, taxpayers have the right to know the full extent of government involvement in America's auto industry," said Greg LeRoy, GJF's executive director. "And while proposed federal aid to the Big 3 would take the form of a loan, the vast majority of subsidies to foreign auto plants were taxpayer gifts such as property and sales tax exemptions, income tax credits, infrastructure aid, land discounts, and training grants," he said.

Honda, Marysville OH, 1980, $27 million*

Nissan, Smyrna, TN, 1980, $233 million**

Toyota, Georgetown, KY, 1985, $147 million

Honda, Anna, OH, 1985, $27 million*

Subaru, Lafayette, IN, 1986, $94 million

Honda, East Liberty, OH, 1987, $27 million*

BMW, Spartanburg, SC, 1992, $150 million

Mercedes-Benz, Vance, AL, 1993, $258 million

Toyota, Princeton, IN, 1995, $30 million

Nissan, Decherd, TN, 1995, $200 million**

Toyota, Buffalo, WV, 1996, more than $15 million

Honda, Lincoln, AL, 1999, $248 million

Nissan, Canton, MS, 2000, $295 million

Toyota, Huntsville, AL, 2001, $30 million

Hyundai, Montgomery, AL, 2002, $252 million

Toyota, San Antonio, TX, 2003, $133 million

Kia, West Point, GA, 2006, $400 million

Honda, Greensburg, IN, 2006, $141 million

Toyota, Blue Springs, MS, 2007, $300 million

Volkswagen, Chattanooga, TN, 2008, $577 million

Total: more than $3.58 billion

* total of direct subsidies to all Honda facilities in Ohio

** includes about $200 million for expansions of Smyrna and Decherd plants

List does not include joint ventures with U.S. companies

These data, drawn primarily from contemporary media accounts, are very conservative. They do not account for inflation; some would be worth far more in today's dollars. They do not include any estimate of subsidies granted to hundreds of foreign-owned auto supply companies that have located in the same areas, virtually all of which were also heavily subsidized. Finally, they do not reflect later news accounts, which often place higher subsidy values.

Good Jobs First is a non-profit, non-partisan research center promoting best practices in economic development and smart growth, based in Washington, DC, with offices in New York and Chicago.

SOURCE Good Jobs First

[Captain Hilts]

1. And Southern states are subsidized by northern states - like NY, NJ, MI, CT, etc.

MI gets back 94 cents for every dollar to DC, while Shelby's AL gets back a whopping $1.63.

Read the tally for ALL the states here:

http://www.nemw.org/taxburd.htm

[patrice]

2. Darned Socialists!! nt

[davidpdx]

3. I think some of the Rep Senators would like to see GM, Chrysler and Ford

go under since they have foreign automaker plants in their state. So much for patriotism.

[merh]

4. I posted some of the incentive monies

in this thread

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4645254&mesg_id=4645254

[Historic NY]

5. It adds up to 5.04 billion or about 1/3 of the bail out.....

what has Detroit gotten.

[tuckessee]

6. Have any GM plants in the South received subsidies? n/t

[amborin]

7. nothing new there...cities pay big subsidies to lure businesses...jobs, even low paying jobs

[bobd0]

9. It might not be new but there is a big difference this time

These southern senators threw incentives at foreign competition to attract jobs, and who knows what else, then denied what amounts to a bridge loan to the America auto industry.

How can anyone not have a problem with that? It amounts to economic terrorism.

[DainBramaged]

8. And how much did each job cost us the taxpayer?

$250,000 each would be a conservative estimate. They wanted a fight over the loans, we'll give them a fight. The Cabal of Southern Senators did a piss-poor job of thinking out the strategy for this battle.



http://www.goodjobsfirst.org/

http://www.goodjobsfirst.org/corporate_subsidy/companies.cfm

http://www.walmartsubsidywatch.org/