In the mid 1990’s then Governor Tom Carper started Delaware down the road of “buying” jobs from major corporations with the acquisition of AstraZeneca. At the time, Zeneca employed about 4,000 people in Delaware and Astra employed about 4,000 in Pennsylvania. Both States “bid” for the consolidated company, AstraZeneca. Delaware won the bidding war. Over $100+ million in road project expenditures, greasing of the skids on governmental approvals, Strategic Fund expenditures in the millions, plus other incentives were donated to the private company from the Delaware taxpayer’s pocket.
Today, the combined AstraZeneca employs fewer people in Delaware than the mid-1990’s Zeneca employed, and that number is now going to get smaller.
Governor Minner followed Governor (now U.S. Senator Carper’s) lead –spending more millions in a failed attempt to chase vanishing jobs. Governor Markell, who has been the most disappointing of all because of his high expectations, has continued to follow the same playbook despite the record of failed investments that have withered in front of him. To make matters worse, he began making even riskier investments, by investing in hope & prayer companies like Bloom and Fisker.
With a 2nd recession right in front of us — yes, you read that correctly — a new recession in the next 3 months, our State budget is in serious trouble, our private sector employment is going to drop much more, and the economic infrastructure in the State (strong under Governor’s Castle and du Pont) has been destroyed.
This reality is what happens when you don’t live within your means.