It’s so nice to know that the city of Dayton is realizing that they aren’t going to collect as much income tax. NCR moving to Georgia was a big hit to collections. But, it’s amazing as they hike fees, cut services and complain about dropping revenue, they still find ways to spend our money on speculative corporate welfare.
Yep, same article, they talk about a drop in revenue they hand out $25K to a multi-national corporation:
“We were thinking we would be down about 2 percent,” said Riordan, at the close of the City Commission’s weekly business meeting on Wednesday, March 10. “We were down 6 percent. “We wanted to get an early warning out as soon as possible.”
Riordan said income tax is the city’s most volatile source of revenue and represents about two-thirds of all city revenue….
The City Commission also approved a $25,000 Development grant for Quickstep Composites located at 3251 McCall St.
Quickstep, founded in Australia in 2001, is a leader in composite materials processing for the aerospace and defense industries.
The company will invest $910,000 at its current site to buy and install machinery. The company also will be making improvements to its offices, including telecommunications and networking updates.
Within three years, the project is expected to create about 20 jobs with an average salary of $63,400.
Either Dayton makes sense for Quickstep to locate here because of costs of doing business, access to raw materials, access to customers, connections with research universities- or it doesn’t. Us handing them a check shouldn’t make a bit of difference to a viable business. In fact, it’s time to have companies sign contracts- if they don’t create the 20 jobs paying an average of $63,400 by a certain date- they have to pay the money back, plus interest.
It’s time for some accountability with our money. Remember- it is our money.
Here is our take on this for the Dayton Grassroots Daily Show: