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To be quite honest, the incentives actually feel low when I compare them to what I remember reading of huge deals in other states.
When comparing incentives of prior years to this current deal, the story should indicate what those past packages equated in today’s dollars. The story should also describe exactly what the tax credits are. Are they offsets to existing local or state taxes? Finally, what will be the economic impact for the state and for Howard County as a result of all this? Hopefully, when deciding how much in incentives should be offered public officials calculated the cost-benefit to arrive at a number that made the package worth it. Someone knows that number, and we should know it too since it is out tax dollars in play.
For the “up to” 1,400 jobs that’ll be created, it’d be good to know what the hourly wage/annual salary will be for those who are hired to work on the production line. And how many of these jobs will be hourly (percentage-wise) and how many of the positions will be management and what’s the salary going to be for those jobs? Incentives are the cost of doing business when it comes to economic development and investing in the quality of life in a community. But, IMO, the ROI is going to come from create a manufacturing plant that 20 years from now is one of Kokomo’s largest employers and doesn’t become this generation’s Delco-Remy that went under in Anderson or any of the auto plants that closed in places like Kokomo, Muncie and Marion. That said, kudos to the IEDC for the “win”.
let’s hope this works out as a win for all. but there are failures, e.g. United.
And running through all this sort of package are the facts of a workforce and a culture not ready to compete with other states. it’s more than a few dollars for Ivy Tech that needs sustained policy planning.
Line the pockets of lobbyists, politicians, and big corporations
It’s criminal