UPDATE: $100 Million Incentives: US 25, EU 5

Crowdsourcing works! In my last post on $100+ million incentive packages, I asked for your help in identifying any projects I had missed either in the US or European Union. Readers came up with several suggestions, which led to me discovering even more mega-incentives. I also checked the Good Jobs First blog Dirt Diggers Digest, where I found four projects listed, only one of which had been in my original 13 post-early-2008 packages. Then I went to the accumulated results of Google Alerts, where I found even more. In all, I found a total of 12 more projects in the US, bringing the score to US 25, EU 5. I have identified one possible additional case in the EU, but have yet to confirm it.

Here is my original list of $100 million incentives from September 29:

Company          State           Minimum nominal incentive package

AREVA             ID              $276.6 million present value
Nucor                LA             $373 million
Hemlock            MI             $358.4 million
Spirit Aero         NC            $250.9 million
Cerner/OnGoal  KS             $230 million
Hemlock            TN            $200 million
Electrolux          TN             $188.3 million present value
Ford                  KY            $180 million
Boeing              SC              $900 million
Apple                NC            $320.7 million
Xtreme             MI              $100 million
Schott               NM            $130 million
Panasonic         NJ              $102 million

Here are the additions:

LG Chem                  MI              $276 million (thanks to Dean Whittaker for this and the next one)
Johnson Controls       MI              $467.5 million
Motorola                  IL                $113.7 million (thanks to Dirt Diggers Digest for this and the next two)
American Greetings  OH              $104.5 million
Diebold                   OH                 $96 million (DDD expects this to top $100 million when all is tallied)
Yahoo                     NY               $200 million (David Cay Johnston has reported on this and the next one)
Verizon                   NY               $614 million
Xanadu                   NJ                 $200 million
Gaylord Entertain.   CO                $300 million
A123 Systems        MI                 $100 million
Dow Kokam          MI                 $100 million
fortu PowerCell      MI                 $100 million

We now have five times as many $100+ million packages in the US than the EU in the last three years, seven of which exceed the largest package in the EU, at least in nominal value. This continues to underscore my contention that the EU state aid rules successfully reduce the size of incentives there and we need to adapt their rules to our political institutions.

I have heard rumors that there may still be mega-packages still to uncover. Let me know if you hear about them!