The Winston-Salem Journal predictably endorses Forsyth County incentives for Caterpillar, taking the time to chastise those ‘misinformed’ who dare draw comparisons to the Dell misadventure:
Critics are already comparing the potential offer to Caterpillar with the one made to Dell, arguing that the city doesn’t need to get into another risky deal only to see the plant close. While the incentive money was refunded, they say, the city and county made no interest on the money invested.
What’s ignored in that misinformed view is the benefit the area received from an annual payroll of more than $40 million paid to Dell employees over the past five years, income that was no doubt largely spent in this community to support businesses. Dell workers also have contributed to the tax base and the company has paid more than $5 million to the city and county in property taxes. Some may call that a misadventure; we call it a sweet deal. And the plant is still operating.
I guess the question begs if the Dell deal was so sweet, then why was it such a tough budget year for the county and the city, with the city raising property taxes? Someone please explain.
