I know it’s not a popular position, but I was actually relieved to see that North Carolina didn’t win the Toyota-Mazda plant. Why? Because, according to the Commerce Secretary, North Carolina was prepared to offer $1.5 billion to get the company to locate here. With the plant projected to employ 4000 people, that’s $375,000 per job.
I know the jobs would have been welcome, but that seems like a pretty hefty price tag. It was a bad deal for taxpayers, and I’m glad we’ve avoided it.
Instead, we should be investing in infrastructure and education, and lowering tax rates, which will make North Carolina a more attractive location to Toyota-Mazda and everyone else. Elected officials should focus on making North Carolina an attractive place to do business without the need for massive corporate welfare payments.
