by Becki Gray
Former Senior Vice President, John Locke Foundation
Just when you think corporate welfare seekers have sunk as low as they can, a company that makes drones is trying to negotiate a deal where the state will buy $6 Million of their products, as reported here:
Olaeris is talking with Commerce officials about an investment of up to $6 million in unmanned aircraft products and equipment to help the company demonstrate the products’ potential. The investment would be in lieu of state incentives.
If NC’s not willing to play, “the company could revisit sites in 18 other states if it does not get a state investment.”
And further, the company “has been negotiating with Triad economic developers about a site and with state lawmakers about regulatory flexibility.”
Monetary incentives, deals to purchase products, regulatory flexibility, threats; it’s all part of the potential deal. And as always, it’s a bad deal.