That’s the only sound you will hear coming out of the left-wingers today as another NC based business decides to expand its operations in our neighbor to the south.
According to the AP:
A research firm that develops advanced textiles for the automotive, aeronautics and defense industries says it will open a new facility in South Carolina, creating 120 new jobs.
The state Department of Commerce announced Monday that Fletcher, N.C.-based Materials Innovation Technologies will bring a new facility to Florence County. The company specializes in processes for reclaiming and molding carbon fibers – a strong, light and flexible material.
Will those on the left who were so quick to highlight one company’s expansion in NC last week have anything to say today? I doubt it. The fact remains over the long term NC’s tax structure is unfavorable to economic growth. Gov. Perdue and the Dept. of Commerce bribing, er, paying off, er, buying a press release using incentives to encourage a company to do something it was already going to do is never going to be a good example.
Interesting that you guys didn’t see fit to mention that the company is getting incentives from Florence County, South Carolina.
And the last time I looked, South Carolina’s unemployment rate was even higher than North Carolina’s.
How does that fit in with your theory that our tax climate is hurting our economic growth?
Mr. Jennings.
What does it matter? In the end the whole business is unconstitutional. The NC State Constitution does not authorize the Governor nor the General Assembly to use taxpayer dollars for corporate welfare. As a matter of fact, Article 1, Section 1 of the NC State Constitution says: “We hold it to be self-evident that all persons are created equal; that they are endowed by their Creator with certain inalienable rights; that among these are life, liberty, the enjoyment of the fruits of their own labor, and the pursuit of happiness.” Did you catch that part about enjoying the fruits of one’s own labor? The more social and corporate welfare that government engages in the less We the People have to meet basic family needs, to dispense in charitable giving, or to indulge in a personal want. When the people have access to the “fruits of their own labor”, then they stimulate the economy in consumer spending and investment, a way that has a real impact on GDP, not the phony impact of government spending.