There has been a flood of big economic development announcements by companies locating in or expanding in Guilford County in recent years, and, as they say, when it rains, it pours: On Friday afternoon, July 5, Guilford County government sent out notice of another such company that’s going to invest $35 million in Guilford County and bring in a lot of jobs to boot.
Guilford County used to announce the names of the companies when they announced the public hearings; however, earlier this year the county stopped that practice and just began using the economic development community’s secrecy-preserving project name, which in this case is Project Big Joker.
In accordance with NC General Statutes, the county by law must give notice of a public hearing before any economic incentives are doled out.
To that end, the Clerk To The Board’s Office announced that the Guilford County Board of Commissioners will hold a public hearing at 5:30 p.m. on Thursday, July 18 in the Commissioners’ Meeting Room on the second floor of the Old Guilford County Court House at 301 W. Market St, in downtown Greensboro.
The official purpose of the hearing will be “to receive public input on the proposed allocation of funds for the following Economic Development Incentive Grant to: Project Big Joker, in the amount of $565,290.”
It adds, “The company is seeking to expand its business through relocation and is expected to generate approximately $35 million in capital investment in Guilford County, and create 26 new full-time jobs with the retention of 60 existing jobs.”
While the Board of Commissioners is required by law to hold a public hearing before promising the taxpayer money to the company, the hearing is more for show than anything else because, any time a deal reaches this stage in the process it means that the company has already decided to locate or expand in Guilford County, and county officials are just checking off the legal boxes.
The county’s announcement states that the company is considering a site at the Millstream Industrial Park, in addition to other options within the United States, and the mystery company is also requesting state and other local incentives before making a location decision.
Again, the commissioners will approve the incentives as they always do and the company will locate in Guilford County.
According to the county’s announcement, the average wage for the jobs created will be $58,885.
After the deal is approved by the Board on July 18, Guilford County will agree to cash incentive grants for the company, which is requesting state and other local incentives as well (which will also be granted).
The local approval of incentives doesn’t legally commit the company to expand in North Carolina; however, the cash grants are contingent upon – among other things – the company’s “entry into a local economic development agreement with Guilford County containing the obligations and agreements of the company and Guilford County.”
“Economic Incentives”
That means that they take money from us by coercion, often telling us that “It’s for the children” or some other lie, then they give it to Mega-Corporations because they believe it will enrich their God – government.
The Parasitic Sector (Public Sector) satisfies its craving for money, the big business capitalists make out like bandits with the free money, and everyone’s happy. Er… except the poor suckers known as the people.
It’s enough to turn you into a Right Wing Populist.
The actual belief if you aren’t a conspiracy theorist is that the money spent (or normally forgoing of taxes versus a cash out lay) is recovered by larger businesses creating jobs (increasing tax base) taxes on capital spending (hence the 30+ million in capital outlays mentioned in the press release).
I am not sure it always works out as well as expected but it isn’t as Austin wants you to beleive with his ‘all tings gubermnet be bad’ rationale.
But you be you.
Half a mil…..easy money. Hope it’s not going to Skip’s museum.
Public input doesn’t matter but “incentives” are ransom demands that are paid by the County/City to businesses for locating in our area. These shouldn’t be paid. I don’t approve of my tax money being used in this manner, especially when the County “forgot” to add the Sheriff deputies’ salaries to the budget this year.
How about some $58,885 jobs for POLICEMEN & FIREMEN? Won’t cost that much as it means a raise for some.
Of course, this makes sense. You can’t expect our govt to have any.
Just another way Guilford county sticks it to its citizens.You have no say, until you say I will not pay your taxes anymore
You are so right. I wish we had a way to know what percent of our taxes go to what. Then we could deduct that percent if we do not agree to pay that amount to whatever.
Nobody ever stays in Millstream Industrial Park for long. The place is cursed lol (more so, it’s probably that people get tired of the stench since they decided to put a sewage treatment plant next door).
The economic incentives that companies should be looking for are an educated population, low crime rate, a well-run government with a balanced budget and a problem-solving mindset, and a government free of DEI and MWBE. When a government is free of DEI and MWBE, the government does not force companies to engage in DEI and MWBE. Money incentives pale in comparison to the forementioned incentives.