High Point has a reputation for trying to lure companies in other part of the Triad with economic incentives.
But now eyebrows are being raised over The Phillips Collection’s request for $100k to move from one part of the city to the other:
“We’re opposed to giving public money for a very tentative and speculative purpose,” said Norman Smith, a Greensboro attorney representing Universal Industrial Park, where The Phillips Collection is located. “We’re concerned not only with the wisdom of this, but also the legality of it.”
Smith also objected to the idea of incentives being used to facilitate a business moving from one part of the city to another, raising a point others have argued about how incentives should be used to bring in businesses from outside to economically depressed areas.
Note the Phillips Collection not only wants to move its operations to the former Rose Furniture building, but they also want to start a ‘business incubator.’ See, it’s all for the greater good.
