Civitas Review

Crony Gov't Handouts a "Stick in the Eye"

By | Posted in Economics |
none
Jan
06

This according to state Senator Andy Wells (R-Catawba). From the N&O  

A state senator from Hickory is denouncing as a political “poke in the eye with a stick” a promise of state incentives to Corning Inc., which will move about 500 workers from his city to Mecklenburg.

Corning Inc. announced last month that it would relocate the global headquarters of its Optical Communications business from Hickory to Mecklenburg, where it will employ about 650 people. The state has promised $2.35 million in incentives over a dozen years.

That’s not going over well in Catawba County, where state Sen. Andy Wells, a Hickory Republican, said the decision to offer incentives for an in-state move is bad politics and bad policy. The deal shows why the state should end its incentives program, he said.

But its not just state tax handouts Corning is after. According to the article, the rent seekers are working on handouts from Mecklenburg County as well as the city it locates to.

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