Posted on 11/14/2004 4:58:24 PM PST by TaxRelief
Dell promised publicly that, in exchange for $242.5 million in incentives, it will invest at least $100 million to relocate in the Triad and create 1,200 jobs in five years. Nothing, however, will require Dell to show the public that it kept its promises -- not the way state law is written now.
Not the press, not the public at large, not even the legislature -- which voted last week to give Dell the huge incentives package of tax breaks and direct grants -- can require Dell to provide production, employment and tax information to prove the computer company is living up to its end of the agreement. State law defines production and employment figures as part of a company's tax information and protected trade secrets...
(Excerpt) Read more at news-record.com ...
We are giving Dell approximately $202,500/job to relocate to North Carolina.
There is nothing that says how long they must stay and nothing that forces them to actually create these jobs.
Sounds like typical, old-think, economic development to me. If a company will relocate to your state or region for a combination of cheaper labor and government incentives, they will just as easily move to another region for a more enticing package. NC should have a claw-back provision for their incentive package.
I'm sure the 14,000 NC employees of IBM just love paying to help out the competition.
Very rude, psycho_bunny.
At least our fingers won't be sticking to keyboards covered in evergreen pine-tar, anymore...
I'll never buy another Dell again. Their technical support system is overwhelmed (20 minute wait, on average), and when you finally get through, you're talking to someone in Asia. What kind of American company is that?
Whoever made that deal is either on the take or incredibly stupid...
In either case should be fired
imo
I am very pleased with the Dell I bought last July. But I will have to call them (if I can get through to a person who speaks English well) about my latest bill. They said I would not be charged interest until Nov 1. I thought that was a good deal. Now my latest bill has arrived and they interest charges are huge. It's like they just held off on charging me interest and have dropped them on me all at once.
We tried to fire our Governor, but he just got reelected.
I bought a new Dell about three months ago, and have been very pleased. And, tech support has been great and all domestic. Now HP, on the other hand, is a different story. I purchased a new HP printer at the same time, and HP tech support is in a suburb of New Delhi, India; and, I have yet to resolve issues through them. Not to denigrate HP because the product is great, just some operational issues with it.
I am with you. We have had a lot of problems. We talk to someone for 2 hours and then they say they will call us back and they never do. We will never purchase another Dell, and I am starting to hear this more and more.
It's unfortunate that NC has to give such huge incentives to attract businesses; however, I guess we don't have much choice. With our tax rates so high, no company would come here without help.
Alas, the citizens don't think it's necessary to change this. They elected "Tax Hike" Mike for another term. I even saw an article the other day about T. H. as a presidential candidate. Bizarre. I guess he can't be worse than Kerry
Don't forget gullible. The incentive package was probably pointless and unnecessary. It was likely that Dell would have located here anyway because of the new FedEx hub. Not that I blame Dell. I would have taken the deal as well.
The legislature is a majority of Demnocrats. It was "tied" until the recent election.
thats usually how those "deals" work
Thats why corporate subsidies are stupid. Imagine smaller companies that get nothing, those supply the majority of jobs. They actual PAY taxes.
Sounds like you signed an interest free finance agreement. During the term of the agreement there is no interest, but if you go past the due date of the loan you're back charged all the interest.
Better read over your paperwork. I use the same agreement with my customers but explain the terms and what happens if they don't pay off the balance on time.
I know it sounds confusing, trust me, this is the way 99% of finance agreements work.
FR mail me if you need any other info.
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