According to an October 31 press release from the governor’s office, Linamar North Carolina, Inc., in Buncombe County, will be receiving One North Carolina funds for creating 150 new jobs, with an average pay of $42,667, and investing $115 million in the local economy.
According to the resolution the Buncombe County Commissioners will most surely approve Tuesday, the county will give its small award ($9 million in cash) to the company for the creation of 400 new jobs, with an average pay of $39,000, while investing $190 million in capital improvements.
I can grant that maybe $75 million will be spent outside of the local community, and maybe one set of wages doesn’t include benefits when the other does; but I’m not sure how to reconcile the 250 ghost jobs.
For another thing, this is Linamar’s third round of economic development awards from the county. Over at the Cato Institute, the scholars would be saying this level of recidivism warrants a review of the county’s corporate welfare program.
