After receiving a $240 million loan from the Legault government, the young Swedish company Northvolt will pay nearly $7.2 million in welcome tax to Saint-Basile-le-Grand and McMasterville to build its battery mega-factory here.
“The McMasterville bill [1,27 M$] was acquitted and that of Saint-Basile [5,9 M$] is in the process of being paid,” indicated to the Newspaper Emmanuelle Rouillard-Moreau, spokesperson for Northvolt.
“These are the regular rates applied,” she added when questioned on this subject by The newspaper.
Last Tuesday, The newspaper reported that Northvolt would be entitled to a special agreement on municipal taxes.
The mayor of Saint-Basile-le-Grand, Yves Lessard.
Screenshot TVA News
In recent days, the mayor of Saint-Basile-le-Grand, Yves Lessard, explained to Newspaper that it is difficult to say how much the property tax will be “because we will not know the value until the building is erected.”
“They [Peter Carlsson et Paolo Cerruti, patrons de Northvolt] were a little surprised to see how it works for us. They realized [qu’il fallait payer des taxes municipales ici] and they actually took specialists from here to support them,” he continued.
Public funds
Nearly $1.4 billion in government aid of all kinds and $1.5 billion in production incentives will go to Northvolt if battery manufacturing goes as planned.
“They put a lot of money on the table,” Northvolt co-founder Paolo Cerruti admitted in an interview with the Journal.
Photo Martin Jolicoeur
In the entire battery sector, more than 50 billion investments and 16,000 jobs could see the light of day, according to the Prime Minister of Quebec, François Legault.
Last week, the CEO of Investissement Québec (IQ) admitted in an interview with Newspaper the “economic risk” of having put $2.7 billion of public funds into the battery sector to date.
“It’s a damn good business deal. It certainly represents an economic risk. The sector has not yet been built,” explained Guy LeBlanc.
– With the collaboration of Sylvain Larocque and Pascal Dugas Bourdon