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Started By
Message
re: 1400 new jobs to Monroe
Posted on 6/17/09 at 3:28 pm to Golfer
Posted on 6/17/09 at 3:28 pm to Golfer
quote:
As for my previous post, its just a theory. Just like your's that have no links.
LINK
Go to the CATO Institute's website there are many articles and discussions on corporate welfare. My favorite section of the one I linked is "Government is Ill-Suited at finding the "next big thing"".
Markets find the next big thing. Not big beauros. In reference to LA trying to invest in an unproven industry with our dollars.
This post was edited on 6/17/09 at 3:29 pm
1
Posted on 6/17/09 at 3:28 pm to LeonPhelps
quote:
If it were provided to the public who is funding this then I would.
I'm sure you could call the Department of Economic Development and ask, it is a matter of public record.
Posted on 6/17/09 at 3:31 pm to LeonPhelps
quote:
Markets find the next big thing. Not big beauros
I agree. Which is why the state and local governments will have clawbacks in their provisions if this thing goes under. Its not like the state went out and built this car manuf. It is private investment. Most of the package from what I can gather is statutory in nature anyways.
Posted on 6/17/09 at 3:32 pm to BB19
quote:So that almost doubles the number of jobs in Monroe, right?
1400 new jobs to Monroe
Posted on 6/17/09 at 3:37 pm to Golfer
quote:
I agree. Which is why the state and local governments will have clawbacks in their provisions if this thing goes under. Its not like the state went out and built this car manuf. It is private investment. Most of the package from what I can gather is statutory in nature anyways.
That does make me feel a little better.
Posted on 6/17/09 at 3:42 pm to LeonPhelps
quote:
That does make me feel a little better.
The movie tax credits are really the only ones that don't "pay off".
Posted on 6/17/09 at 6:14 pm to BR Tiger
quote:
Stop being rational. Let's just keep doing things in our state the way we've always done them. No need to try and bring new industries here.
Exactly!!
But lets look a little deeper into this. 1400 jobs at $40K/yr. That amounts to an annual $56 million/yr payroll injected into NELA. Thats $56 million a year that would NOT have been in the NELA economy before.
These employees are going to be purchasing homes, vehicles, furniture, toys for their children, clothes, going to resturants, boats, lawnmowers, ect...Pumping money into the local economy thus creating MORE local jobs. It's the multiplier effect.
Then we are looking at a lot of jobs that will be created that will have to service the plant, local suppliers, maintenence, construction, truck drivers.
PLUS, if this thing takes off, NELA could land a huge auto manufacturer like Toyota, Honda, Ford... at the Rayville Megasite.
Posted on 6/18/09 at 9:34 am to Reubaltaich
quote:
Reubaltaich
You have faulty premises. First off, every job would have to be a net new job to the state. I don't think that is going to happen.
Posted on 6/18/09 at 9:38 am to LeonPhelps
quote:
First off, every job would have to be a net new job to the state. I don't think that is going to happen.
How is it not a net new job to the state? These jobs didn't exist in the first place. A net new job doesn't have to employ someone who moved here...
This post was edited on 6/18/09 at 9:39 am
Posted on 6/18/09 at 11:18 am to Golfer
quote:
How is it not a net new job to the state? These jobs didn't exist in the first place. A net new job doesn't have to employ someone who moved here...
What if someone leaves their current job but is not replaced due to the current economy? Just curious, I really don't know.
Posted on 6/18/09 at 11:40 am to Reubaltaich
LINK
They are gonna need to borrow $300+million from the godvernment???? Lane's on a venture capital firm that will get godvernment money for a "green" project; he uses political favors to get this thing going with the state footing the start up costs; then he runs the company off of more godvernment subsidies while he and his cronies split the millions in godvernment loot. Meanwhile, Bobby can say to north Loosiana that he created 1,400 jobs.
What if it were Obama and not Jindal?
They are gonna need to borrow $300+million from the godvernment???? Lane's on a venture capital firm that will get godvernment money for a "green" project; he uses political favors to get this thing going with the state footing the start up costs; then he runs the company off of more godvernment subsidies while he and his cronies split the millions in godvernment loot. Meanwhile, Bobby can say to north Loosiana that he created 1,400 jobs.
What if it were Obama and not Jindal?
Posted on 6/18/09 at 11:42 am to LeonPhelps
You aren't getting it:
1. Its a government loan.
2. The money the state is on the hook for is performance based.
3. The improvements to the plant the state is paying for will only help the facility for future business if for some crazy reason this doesn't work out.
1. Its a government loan.
2. The money the state is on the hook for is performance based.
3. The improvements to the plant the state is paying for will only help the facility for future business if for some crazy reason this doesn't work out.
Posted on 6/18/09 at 11:43 am to LeonPhelps
Also, if you go to the Ouchita Citizen's website and look at the poll most people would vote no on a new tax to pay for the 1,400 jobs. Incredible! People are against paying for Corporate Welfare!
Posted on 6/18/09 at 11:44 am to Golfer
quote:
Its a government loan.
A loan with a low to zero interest rate. Corporate Welfare in my opinion.
Posted on 6/18/09 at 11:46 am to LeonPhelps
quote:
Also, if you go to the Ouchita Citizen's website and look at the poll most people would vote no on a new tax to pay for the 1,400 jobs.
First, that poll isn't of the voting pool. Second, if it is then it is only them to blame for making this project fail.
All too often communities are unwilling to step up and do their part to better their quality of life, standard of living, and on down the line.
quote:
People are against paying for Corporate Welfare!
For the love of God, this isn't Corporate Welfare.
Posted on 6/18/09 at 11:48 am to LeonPhelps
quote:
A loan with a low to zero interest rate.
The more power to them. Why not keep more money in the businesses pockets so that they can do more with the company and the people of Louisiana.
Posted on 6/18/09 at 12:42 pm to Golfer
quote:
The more power to them. Why not keep more money in the businesses pockets so that they can do more with the company and the people of Louisiana.
Because this is targeted on an unproven industry. If they go belly up we don't get any of the clawbacks.
Posted on 6/18/09 at 12:52 pm to LeonPhelps
quote:
Because this is targeted on an unproven industry.
The auto industry is unproven?
quote:
If they go belly up we don't get any of the clawbacks.
The clawbacks all have a third-party guarantee on them.
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