Related to the new incentive package at the Global TransPark (GTP.) From the N&O:
The $11 million is one of the smaller parts of an incentives package that could top $180 million. There are the now-usual tax credits and grants — unfortunate, but probably essential to compete with other states and sensibly linked to the jobs actually created. Then the Spirit package breaks new ground with a $100 million — you read that right — transfer from the Golden LEAF Foundation to the TransPark Authority. The money will finance the new factory. The tenant will make “nominal” lease payments.
Interesting that they just slide the word “unfortunate” in there as if it isn’t really all that unfortunate. They also don’t really talk about what a “nominal” lease payment is. Numbers are being gathered and surely having this new facility is good news, somewhat and at what cost to taxpayers? The admission that this “package” of giveaways was essential is the admission that if taxes were lower, the plant would have come here. Incentives are just lower taxes for state and local government preferred companies, not the ones that helped to build the state. The discrimination against the rest of North Carolina businesses continues.
When politicians get to chose who gets preferential tax treatment, we should all be concerned.
