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Reynolds gets $150K of your tax dollars

Posted By David Esrati On In Economic Development in Dayton OH,End corporate welfare | 3 Comments

When I hire someone, do I get $2,143 for doing it? Nope. I have to spend some time filling out government paperwork and verifying citizenship and the right to vote. Then, I have to add them to payroll, and pay city income taxes to any number of different cities.

Most small businesses I know would love a check for hiring people. But, that’s not how it works anymore. The big guys get the breaks, the small guys get broke.

Reynolds and Reynolds Co. will consolidate its finance and insurance operations into a single unit at the company’s headquarters campus in Kettering, creating about 70 jobs…

Currently, the majority of those operations are located in Georgia and the rest are scattered across the United States,

Kettering officials said the city and the Dayton Development Coalition will offer $150,000 in economic incentives to assist Reynolds with the move.

Reynolds — a provider of software and services to auto dealers — has about 1,700 employees, including 1,400 locally.

via Reynolds consolidation to create 70 jobs in Kettering – Dayton Business Journal: [1].

This is nothing but corporate welfare. It’s unfair, it’s not business friendly, and it’s a waste of your tax dollars. As a public service, I’m publishing these on this site, so when Reynolds announces it’s next round of layoffs- we can find this charitable contribution to their bottom line- and ask for our money back.

Corporate welfare needs to be illegal, nationwide. End of story (at least for today).

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David Lauri

http://www.nytimes.com/2009/11/13/nyregion/13pfizer.html is a fun article in today’s New York Times about Pfizer leaving New London, CT, after that city used eminent domain several years ago to raze houses to clear space for economic development that didn’t happen as planned.
 
Money quote from the article: Mr. Bullock, who represented the landowners in New London, said Pfizer’s announcement “really shows the folly of these plans that use massive corporate welfare and abuse eminent domain for private development.”

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David Esrati

@David L. Great article- I particularly like this quote:

Conservative justices, including Clarence Thomas, dissented. Justice Thomas called New London’s plan “a costly urban-renewal project whose stated purpose is a vague promise of new jobs and increased tax revenue, but which is also suspiciously agreeable to the Pfizer Corporation.”

Sounds exactly what happened with the Wayne Avenue Kroger in Dayton- and most of the “economic development” misuse of our tax dollars by local politicians who think they are investment bankers.

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