Two weeks ago, capitalists and socialists united against New York City offering incentives to Amazon for their HQ2 scam. Apparently, North Carolina lawmakers saw that and had the idea to replicate it.
The Senate Finance Committee has approved Senate Bill 820, which would raise the amount of corporate handouts to large companies considering moving their headquarters to North Carolina… http://bit.ly/2BBR7GT
The bill would raise the cap on the Job Development Investment Grant Program from $6,500 per job to $16,000.
Donald Bryson, President of Civitas, had a good question on Twitter, “Obviously [Governor] Cooper is going to veto SB820 (High-Pay JDIG Job Cap Modification) because he opposes “corporate tax giveaways,” right?” http://bit.ly/2TUMjnp
I wouldn’t hold my breath.
My favorite comments came from Finance Committee Chairman Jerry Tillman. He said raising the cap would help recruit “big boys with deep pockets who are out there looking.” Tillman said several large companies are considering moving their corporate headquarters to Wake and Mecklenburg counties, with the potential to create several thousand jobs.
Wake and Mecklenburg County? Why are we using tax dollars to recruit companies to counties with unemployment rates under 3%?
“I guess if Trump’s take away GM’s incentives North Carolina might give them back. The world balances once again…”