On Thursday, August 4, the Guilford County Board of Commissioners is holding a public hearing to get input on an economic development incentive grant request of $41,630 for IQE Inc. The stated purpose of giving taxpayer money to the company is to help convince corporate leaders to develop a facility expected to generate about $7 million in capital investment and create 31 new full-time jobs in the area.
IQE makes an item in high demand these days – semi-conductors. The company also makes other products that serve cell phone markets, the aerospace industry and 5G networking infrastructure markets among others.
The company is headquartered in the United Kingdom and has a presence in Pennsylvania, Massachusetts and Greensboro as well as other places.
The commissioners’ meeting agenda for Thursday night reads, “One of the sites being considered is located within Guilford County.”
In almost all economic incentives cases, that language means the company has already chosen Guilford County but would like to pick up a little money on the way in.
In the last decade and a half, the county commissioners have rarely met an economic incentive proposal that they did not like – Republicans and Democrats alike almost always vote to approve.
North Carolina General Statutes require that the county conduct a public hearing before approving an economic development incentive; however, before the projects reach the board, there’s already been a lot of negotiating going on.
One set of questions that almost always gets asked by the commissioners has to do with the number of minority employees the company has and the number of minorities in management. Chairman of the Guilford County Board of Commissioners Skip Alston and other commissioners have been making an effort to engage the county more with minority contractors – and the commissioners also want to know how well new and expanding companies in the county are doing in that regard when they are asking for money.
The beauty of incentives is, as a taxpayer, you are turning money over to the state, county, and city who are giving your money to a private business. Then, when election time comes around they show you pictures of them standing on a platform with the people who got your money and tell you to vote for them because they are responsible for “creating jobs”. But we fall for it because people don’t pay attention and don’t understand they are being bribed with their own money.
There are several reasons why a company should never involve government in their business. Government tries to dictate how the business conducts business. If I wanted to open a business in Greensboro or Guildford County, I would not ask for money because of the strings attached. Why would IQE Inc want to do business in a liberal hole like Greensboro and Guilford County.
No problem! Our new taxes should cover this with ease.
NO.
If they already chose Guilford County why do we need to offer anything else? Commissioners’ listen to the people…quit spending OUR money without our approval!! Remember you work for us (at least you are supposed to)