US tax code but are very often directed at individual companies involved in a corporate site selection project. Site selection consultants negotiate these incentives, which are typically specific to the corporate project the state is recruiting, rather than applicable to a broader industry. Examples include the following: Corporate income tax credit Property tax abatement Sales tax exemption Payroll tax refund In Armenia, corporate income tax incentive is available for Armenian resident entities that meet several criteria under the government’s export promotion-oriented program. Those entities that are part of the government approved program receive reduced corporate income tax rates up to tenfold from the 20% rate. Taxpayers running their operations in free economics zones (FEZ) are free from corporate income tax in respect of income received from activities implemented in free economic zones in Armenia. List of largest US tax incentive deals Washington: Boeing, $8.7 billion until 2040, partly for the 777X New York: Alcoa, $5.6 billion Washington: Boeing, $3.2 billion Oregon: Nike, $2 billion New Mexico: Intel, $2 billion Louisiana: Cheniere Energy, $1.7 billion Pennsylvania: Royal Dutch Shell, $1.65 billion over 25 years for the Pennsylvania Shell ethylene cracker plant Missouri: Cerner Corp., $1.64 billion Michigan: Chrysler, $1.3 billion Nevada: Tesla Gigafactory 1, $1.25 billion over 20 years Mississippi: Nissan Canton, $1.25 billion Historical preservation tax incentive Not all tax incentives are structured for individuals or corporations, as some tax incentives are meant to help the welfare of the society. For example, the historical preservation tax incentive. The US federal government pushes, in many situations, to preserve historical buildings. One way the government does so is through tax incentives for the rehabilitation of historic buildings. The tax incentives to preserve the historic buildings can generate jobs, increase private investment in the city, create housing for low-income individuals in the historic buildings, and enhance property values. Currently, according to the Tax Reform Act of 1986, there are two major incentives in this category. The first incentive is a tax credit of 20% for rehabilitation of historic structures. A historic structure is defined as a building listed in the National Register of Historic Places or a building in a registered historic district, acknowledged by the National Park Service. The second incentive is a tax credit of 10% for rehabilitation of structures built before 1936 but are considered non-residential and non-historical. Impact According to a 2020 study, tax competition "primarily reduces taxes for