Chad,

Thanks for pointing out another case of the failure of targeted tax incentives. Let me amplify.

Some people will likely read your news and say to themselves, “Well, at least we tried. These were good-paying jobs designed to help North Carolina compete in the 21st century, global economy … blah, blah, blah. Not every incentive is going to work. Look at all the other jobs North Carolina does have today because of incentives.”

If someone said that to me, I would first direct him to your point that incentives and taxpayer subsidies don’t create jobs.

Then I would make this point: Think of all the good-paying jobs North Carolina would have had today if the government hadn’t taken money from the people who actually create jobs. If the state hadn’t taken resources out of the private sector to prop up businesses that aren’t viable, those resources would have (through the magical workings of the market) moved toward viable enterprises that would create more wealth, boost the tax base, and obviate the demand for failed giveaway schemes.