More Failed Corporate Welfare

This announcement of a Durham window plant closing down shouldn’t come as a surprise. After all, the housing market is slumping.

But compare this unsurprising bad news to the upbeat report when the plant decided to locate in Durham in 2004:

"A window company will create as many as 800 jobs in Durham when it builds a new plant, state officials announced today.

Silver Line Building Products will build a new $22 million dollar production facility in the Research Triangle Park"

But let’s not forget one detail.

"Gov. Mike Easley helped seal the deal by offering an incentives package worth $100,000."

Oops. Notice also that the plant only had 428 workers – just over half the 800 touted in headlines when Easley helped "seal the deal" with our tax dollars.

More than likely, Easley was there for a nice ribbon cutting ceremony in order to remind the public how he is "creating jobs." Where is Easley today?

I propose a new law going forward mandating that anytime the governor attends a public event celebrating the "creation" of new jobs in which state tax dollars were involved, he (or she) be required to go to that business and hold another press conference when the company fails and hundreds of people are put out of work. This way, the public is reminded of the complete folly of the "economic incentives" game.

Any takers? Pat, Bev?