According to a recent report by watchdog group Good Jobs First and the union federation UNI Global Union, Apple received $891 million in subsidies from U.S. states in 2021.
Leading the pack in government subsidies is automaker Ford, which received $1.3 billion in funding from Kentucky and Tennessee for planning to build electric vehicle and battery plants in the corresponding states.
Electronics manufacturer Samsung comes in second with a total of $1.2 billion in various tax rebates and grants rewarded by the state of Texas, the city of Austin and the Taylor School District in exchange for building a chip fabrication plant in the area. Other tech and media companies with net incomes in the billions like Apple, Disney and Oracle are also featured on the top list with projects like R&D centers, relocations of corporate offices and office campuses netting them hundreds of millions in tax abatements, grants and other government funding.
The data does have its limitations, though: Not all states disclose their subsidies, and local grants and abatements are not comparable with previous years due to the unfeasibility of complete data collection.
You will find more infographics at Statista
MacDailyNews Take: For a company that generated $365.82 billion, or 410 times the $891 million in total subsidies, we doubt said subsidies do much to sway Apple’s decisions, but they might just ice the deal, regardless. Who wouldn’t want to save some $891 million when determining where to build data centers, campuses, R&D facilities, etc.?
The benefits of having a large corporation in your country or state go far, far beyond corporate taxes or even a total lack thereof. Those employees, who would not exist in your state otherwise, pay taxes – income, energy, property, etc., etc., etc. – and buy everything from food to furniture to vehicles in the local economy (each one of those purchases very likely taxed as well). Those who whine about corporate taxes [and/or tax incentives] cannot see the forest for the trees. — MacDailyNews, July 9, 2013
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Corporate welfare.
Subsidies to support and create the sector that’s a main Govt narrative. Clean energy is an absolutely great thing, but if truly viable, govt—using THE People’s Money—need not be so presumptuous.
We are committing to a path that’s not verified and the energy & infrastructure reality (dearth) is likely to bring surprises that will surprise, frustrate and leave the sector and everyday citizens scrambling.
I have no idea what you’re trying to say here. What “path” are you referring to? Clean energy??
Comparing the level of subsidies to Apple’s worldwide grosses is a meaningless figure. The question you need to ask is what value does each government entity receive for giving out millions (or billions) in subsidies? Far too often, it’s often much less than the private companies have stated it would be (in terms of numbers of jobs created, or areas redeveloped). Example: Foxcomm’s promises to the state of Wisconsin, or Amazon’s quest to have America’s cities basically pay for their new headquarters.
The world’s first two trillion company does not need one penny of subsidies along with all the rest. END corporate welfare…