Not that anyone needs it, but Glaxo is laying off folks after being yet another company to get money from the taxpayers. The following is just kind of funny/sad
Two weeks ago, GSK asked that the state terminate a contract under which the company would have received nearly $1.4 million in grants to add jobs in Zebulon.
The company said it could not guarantee that jobs it created would exist for the required 10 years. GSK was scheduled to invest $92 million in expansion of the plant and add 200 jobs over four years under the agreement, which it signed in 2005. Stefanie Mendell, a GSK spokesperson for manufacturing who is based in RTP, pointed out in an interview earlier this month that the company had actually exceeded the capital investment commitment and that the additional jobs had been created.
Once again, the market has decided how many “jobs” Glaxo should or should not have and no amount of taxpayer subsidy will make a difference. The NC Dept of Commerce and the Governor, using taxpayer money, DO NOT CREATE JOBS! Let’s not forget that Wyeth (another taxpayer subsidized company) will be laying off workers soon as well. Wonder how well incentives would have worked for the horse and buggy industries of the late 1800s?
