Corporate Welfare

Corporate welfare, NC GOP style

When Bev Perdue was governor, the NC GOP said that cash payments to corporations, job creation notwithstanding, were a bad thing. It's wrong for government to pick winners and losers, said the wing nuts.

Now with the GOP in control of all three branches of NC government, coupled with the slow realization that they're positively destroying the jobs climate in the state, the GOP has slightly revised their position on corporate welfare: cash payments to corporations are now a good thing, and they have no problem at all with picking winners and losers.

Now, with a Republican governor at the helm, some GOP lawmakers want to expand state incentives and create a so-called “closing fund” that will allow cash grants to seal a deal with large corporations that promise to add jobs.

Greedy little frackers

Maybe it's just us (we're often accused of being less than observant), but in the whirlwind of fracking news, we initially missed the latest round of corporate welfare for frackers.

But it turns out that North Carolina's Republican leaders are now seeking taxpayer-financed "corporate welfare" for the oil and gas industry -- even though the five biggest drilling companies alone hauled in $93 billion in profits last year. As The News & Observer of Raleigh reports:

Who's on first?

As the Queen of Commerce wrapped up her "listening tour" on economic development this week, I couldn't help thinking of Abbot and Costello.

"I'm hearing a lot of questions around how do we create jobs? What do we do? How do we help existing businesses grow? How do we create new business to the area?" Decker said. "One of the questions I am asking is what do we need to do to stimulate more business development? How do we get small business started?"

Seriously? This is all we get from the whirlwind "listening tour?" A bunch of obvious questions that any high school freshman could ask?

"One of the questions I am asking is what do we need to do to stimulate more business development? How do we get small business started?"

More bribes coming?

Deputy Assistant Governor McCrory will be making a big announcement on Friday about some kind of manufacturing business coming to North Carolina. The only question is this: how much will it cost the taxpayers to bribe the company to move here?

A. Nothing
B. Less than $1 million
C. Between $1 million and $100 million
D. More than $100 million

Bribes give the illusion of progress without actually delivering value to anyone except for the company getting them. They don't work and aren't necessary.

Buncombe County's "Project X"

Buncombe County Commissioners approved an incentive package of some $17 million dollars in a land swap/tax break deal that would result in a whopping 52 jobs by 2017. For those who are math challenged, that's $325,000 per job.

Jerry Richardson's meeting with Thom Tillis

Jerry Richardson met with Thom Tillis seeking $62 million from NC taxpayers, plus the remainder of an estimated $250 million from the City of Charlotte, to renovate Bank of America stadium.

Our rivers: The latest corporate giveaway

The US Supreme Court keeps on giving and giving. Last week, the Court tossed yet another bone to corporations and dealt another blow to environmentalists. The issue in PPL Montana LLC v Montana was who owns the riverbed beneath 10 hydroelectric dams sitting on three Montana rivers. This may seem like a snoozer, but given the latest grabs for the public’s water by private corporations, it has huge implications for the American people, and especially the people of North Carolina.

NC GOP to workers walking picket line, “Let them eat cake.”

This is a cross-post from

Protesting GOP budgets which give to the rich, take from the rest

About three dozen North Carolinians who are fed up with calls by Republican leaders for everyone else to sacrifice so they and their corporate campaign backers can continue to sacrifice nothing walked a picket line outside the headquarters of the North Carolina Republican Party in Raleigh, on April 29.

Picketers carried signs that read, “Corporate Welfare: GOP Approved”, “Hands off my Medicare”, “GOP: No Millionaires Left Behind”, “GOP Loyalty: Wall St, not Workers”, and “Shame on Ellmers” – referring to U.S. Rep. Renee Ellmers (R-2nd).

With no apparent sense of irony, a representative of the NC GOP came outside during our picket and offered picketers some cake. Yes, you read that right. The Republican response to picketers upset by their immoral state and federal budgets which give to the rich by taking from the rest was, “Let them eat cake.”

UK IT Journal Disses on NC's Desperate Measures to Attract Business

How embarrassing! We've been pointing out the sometimes grotesque measures taken to attract businesses to our fair state, but we're now getting international attention for it and it isn't pretty. It's downright embarrassing.

Here are the first two paragraphs from the post in The Register:

North Carolina will do just about anything to keep technology companies happy, including offering IBM up to $750,000 to bring just 10 jobs to the state.

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