By Paul Chesser on 7.22.09 @ 11:30AM
"North Carolina has never met a targeted tax break it didn't
like," as my Heartland
Institute colleague Steve Stanek said today, but this
one has to take the cake.
"North Carolina has never met a targeted tax break it didn't
like," as my Heartland
Institute colleague Steve Stanek said today, but this
one has to take the cake. From The Charlotte
Observer:
Continental Automotive announced Monday that it will expand
its plant in Fletcher – just south of Asheville – with 338 jobs
averaging $36,179 in wages per year. The facility makes brake
calipers, which squeeze the wheel to slow vehicles.
Continental will receive up to $2.2 million in state grants
for bringing the positions. Henderson County offered up to $1
million over seven years in tax rebates, and Fletcher added up
to $500,000 in the same period.
In May, the company told the state it laid off 90 people at
its Morganton anti-lock brake plant after Chrysler filed for
bankruptcy.
For a company to move 90 jobs just 60 miles within a state and
get $3.7 million for its trouble is beyond absurd. Meanwhile the
NC legislature (and the governor) are prepared
to pass $1 billion in new taxes for the next state budget.
Add in the rampant
corruption in recent history, how can the Democrats continue
to hold power? They keep winning elections, so they will probably
find a way.
topics:
Taxes
