The cost to the State to bribe a large employer to not “move 900 jobs” in what DEDO Secretary Alan Levin calls “a competitive industry”? $7.4 million. That comes to over $8,000 per job not moved. The grant is a little like the Obama Administrations “Stimulus” package — jobs created or SAVED. The grant isn’t to add jobs, but to modernize the building. That is one heck of a renovation.
Earlier this year, I spent about $150,000 to consolidate and modernize my main (and now only) facility. By doing so, I saved my company’s 53 jobs. So, why didn’t I receive $450,000? The additional $300,000 would be great on my balance sheet (Note that Discover Financial Services has almost $11 billion in “Earning Assets” on its balance sheet meaning our paltry $7.4 million is a rounding error). And in case you’re wondering, the printing industry is a competitive industry, too. Nationwide, 15% of printers have shut their doors over the last 3 years. 15%!!! I guess we’re just not “too-big-to-fail”. But, I’m not “too-small-to-pay” my taxes which the State dutifully hands over to Discover Bank and Citibank while the local small business community continues to deteriorate.
Note, I don’t blame Discover or Citi. They know that they are negotiating with a couple of suckers in the Markell Administration. In truth, I blew it. I should have gone to the State and asked for Corporate Welfare. Then, I could have gotten what I’m “entitled to”.
BTW, the DEDO Secretary was in Chile when he was contacted by the News Journal for their story. Great. Boondoggles and Corporate Welfare. I thought the Markell Administration was supposed to be different.
There, I blew it again.