Posted on 06/13/2009 7:23:19 AM PDT by TigerLikesRooster
Southern States Poach Businesses Amid Downturn
By ANSLEY HAMAN
When NCR Corp. started looking late last summer to move from its hometown of Dayton, Ohio, economic development agencies in the South pulled out all the stops in a bid to lure the 125-year-old company best known as a cash-register manufacturer.
Georgia quickly offered more than $100 million in tax and training incentives. State officials connected NCR with six Georgia research universities willing to license new technologies and train workers.
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Bloomberg News
NCR and other companies are moving operations to the South. A Volkswagen plant is seen under construction in Chattanooga, Tenn., last month. In addition to traditional incentives like tax abatements and fee waivers, local economic development leaders in the suburban Atlanta county where NCR's headquarters would be located negotiated discounts for the company with rental-car companies, airlines and landscapers. The city of Columbus, Ga., 100 miles from Atlanta, applied for $5.5 million in stimulus money to help pay for a new NCR factory. After deciding to build a customer-services center near Atlanta last year, the company last week said it would relocate its 1,250-employee headquarters to the area and open an ATM factory in Columbus.
(Excerpt) Read more at online.wsj.com ...
Ping!
Poaching businesses? More like attracting them with a climate that is not business hostile!
The day draws closer and closer to the time when the widget factory can not produce anything and the state will pay it to locate in it’s state and guarantee it a good income stream. The snake eating it’s tail comes to mind.
So with tax breaks to business, tax revenues increase eh?
All the jobs and what they add to the economy is invaluable. I hope Ga pols continue the trend of cutting taxes for business.
Then.....when we look at California, they tax the hell out of companies. Then they wonder why they move to the South.
Dayton whined about this move by NCR but they've never been known as particularly business-friendly.
Hostile state and local governments, hostile unions, ridiculous taxes, crumbling infrastucture, bad weather, and an increasingly apathetic work force. That’s the Northeast and the Rust Belt, why would any company in their right mind want to locate or stay there?
Besides, no grits, pasty biscuits and gravy, and no sweet tea.
I now live in Maryland which has it’s own set of Democrat problems, but I’m from Ohio and what I saw in cities like Akron (my hometown) as well as Cleveland, Dayton, Toledo, etc was this...
People in these cities are “down and out” and vote Dem to “help them” yet - they’ve been voting for Democrats for 100 years and look where it got them.
The definition of insanity is what? Doing the same thing over and over again and expecting different results...
Plus, the corn is better, the watermelons are better, the cantalope can't be beat, and you are far closer to your markets than you will be in the Deep Souf.
Precisely.
I really do not like tax incentives going to specific businesses. Why not just lower tax rates for everyone instead?
The trend of business’s and wealth individuals moving out of high tax “blue” states to the lower tax states, with lower energy costs and lack of union traditions will shortly be stopped by some type of federal legislation.
The Rats are not loosing voters, but they are loosing economic base to support their spending.
On a national scale, Congress already made it difficult to take your money from the US and run..if they start taxing companies for their overseas profits, as planned, they will also need to close the door on companies leaving the US.
Banana Republics need to resort to currency and capital control to prevent the flight of capital elsewhere.
Yup, just like tax breaks to the citizenry results in greater revenue.
It's that easy.
Because that would be "equal protection under the law." during a double-standard liberal administration.
Yes indeed, Detroiters have executed that to perfection unlike any other place in the country.
Which will be the end result of increased tax revenues due to a successful business climate.
That one word does so much to explain the tragedy which has befallen them. It's that sense of entitlement which led them to kill the golden goose. Their response is disbelief, then anger. It is the fault of someone else! It must be!
A few years ago, Cincy was crying and belly-aching that Northern Kentucky (Specifically the Florence/Hebron area) was "stealing" (LOL!) THEIR businesses.
A 5 minute drive through either place makes it abundantly clear what happened.. There was no "theft" Cincinnati businesses liberated themselves from terrible conditions in an ungrateful community.
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