Posted on 05/06/2024 11:13:13 AM PDT by qaz123
Taxpayers could be on the hook if electric vehicle (EV) manufacturer Rivian fails to resume progress on its multi-billion dollar Georgia plant.
Rivian announced on March 7 that it would be pausing construction on its $5 billion manufacturing plant that is supposed to be built just east of Atlanta, Georgia, worrying lawmakers and taxpayers in the state that the plant may never be built. However, local authorities had given the company up to $1.5 billion in subsidies and tax incentives with the expectation that Rivian would bring in jobs and tax revenue.
(Excerpt) Read more at dailycaller.com ...
https://reason.com/2023/05/01/rivian-continues-to-hemorrhage-money-despite-1-5-billion-in-state-incentives/
https://reason.com/2023/04/12/georgia-is-shoveling-cash-into-a-failing-electric-vehicle-company/
https://reason.com/2022/12/28/free-market-think-tank-names-georgia-electric-vehicle-plant-the-worst-economic-development-deal-of-2022/
https://reason.com/2024/03/08/rivian-pauses-construction-at-factory-that-costs-georgia-taxpayers-1-5-billion/
https://www.latimes.com/business/story/2024-02-22/ev-rivian-stock-price-what-happened
The Governor, his crew and the company have destroyed 2000 acres of beautiful land, with the eager help of the guy who inherited it from his parents. And what do you know, he was one of the corrupt POSs on the joint development authority. He waited until both of his parents to die before he sold it.
Meanwhile......
Belgium’s ports drowning under glut of Chinese electric cars: ‘Some are parked here for a year, sometimes more’
https://freerepublic.com/focus/f-chat/4236003/posts
Nobody wants them. The leftists are trying to force them on an un willing public.
10 years ago, Andrew Cuomo gave Tesla nearly $1 billion to build a solar panel plant in Buffalo NY.
The state built SolarCity (later absorbed into Tesla) a new factory, which never came close to employing the “many thousands” of workers intended. When it runs, it basically does final packing for low-end products produced elsewhere employing maybe 200-300 people.
Also coming from this “investment” were several political-crony financial corruption / kick-back cases
Now Democrats in New York aren’t allowed to talk about it.
Will Americans ever learn? NO.
<>But just maybe Rivian will be enough to get the poor, abused taxpayers of Georgia to finally start holding their leaders accountable for lighting taxpayer dollars on fire like Sherman did to Atlanta.”<>
LOL.
Yes
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