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from the self-defeating-interstate-competition-for-jobs dept.
The Progressive reports:
Wisconsin is now poised to reward Foxconn with a whopping $3 billion "incentive" package--the fourth largest "mega-deal" in U.S. history. (That figure works out to an incredible $231,000 per job, and does not include the local subsidies that are invariably a part of such deals.) The bulk of this subsidy would be paid out in cash.[1]
[...] Wisconsin is jumping into the self-defeating interstate competition for jobs, in which U.S. states spend a collective $110 billion[2] on tax breaks and other sweeteners reserved mostly for the largest and most profitable companies like Foxconn, which raked in $2.26 billion in profits last year.
[1] Paywall after x visits per month.
[2] Link in TFA is just a search: http://america.aljazeera.com/search.html?q=%24110+billion.
(Score: 2) by PartTimeZombie on Wednesday August 02 2017, @01:06AM
I live in New Zealand and remember clearly how Warners strong armed our government into giving up $50 million of my money and screwing the workers with the threat to make The Hobbit movies outside of New Zealand.
Hugely dodgy dealings on all sides [wikipedia.org]
The worst thing about it was the way the actual workers lobbied to have their own rights stripped away. Idiots.