Some sobering statistics:
JLF:
As JDIG expanded, the average number of jobs announced per year increased by 147 percent. Actual job creation, however, grew by only 31 percent. Meanwhile, the average number of terminated or withdrawn agreements more than doubled, rising by 108 percent.
The state may be experiencing a record year for job announcements, but JDIG’s data show a program that struggles to convert those announcements into results.
Announcements generate headlines, but they do not drive prosperity. JDIG’s track record reveals a program built on promises rather than performance.
When we consider the various job announcements for the area around Greensboro, we might want to keep this in mind.
It appears from the JLF report that these grants/incentives have
a track record of failure . This has put North Carolina’s financial balance sheet dangerously close to high risk.
The legislature needs to examine the JDIG program. The question is : Where is the meat ?
If I remember correctly, Fred, I think these monies can be clawed back if the jobs don’t materialize. But you raise a good question. Often, the corporate world makes these promises but other things must be in place– financing, permitting, and a continued positive outlook for the plan. If those aren’t favorable, they are at risk of bailing out.
Another aspect of our economy being fascistic rather than free market. All the other taxpayers have to pay more so that these gaining government favoritism can pay less. I started a business & ran it for 30 years and all I ever got from government was the burden of taxes and regulation. About as much “equality before the law” as the criminal Clinton Foundation versus the guy who made the humorous meme about Hillary.
Yes, it can make us pretty jaded and cynical, J. Sobran. It will be really interesting to see whether the 14,500 aviation jobs in Greensboro truly materialize under the auspices of JetZero.