Texarkana jobs saved UPDATE | Arkansas Blog

Wednesday, December 17, 2008

Texarkana jobs saved UPDATE

Posted By on Wed, Dec 17, 2008 at 8:30 AM

It's a sad Christmas for Cooper Tire workers in Albany, Ga. They get the axe while jobs are preserved at Texarkana, Ohio and Mississippi plants.

We know the Texarkana workers took a broad range of pay and benefit concesssions.No report yet on what Arkansas threw into Cooper's red kettle in return for preserving jobs. But the state did pitch in. Too bad nobody in Texarkana pays the state income tax to help contribute to the state corporate welfare fund. And that the lion's share of retail spending is in Texas.

Rep. Steve Harrelson of Texarkana has information on why Georgia fell short -- cost of changing and operating the plant. Even counting a $30 million corporate welfare handout from Georgia. The final decision was always going to be about cost and the state bribes are just lagniappe. If states would get together and agree not to cut each others' throats while being held hostage by corporate extortion artists, there'd be no doubt that the decision would be made on a rational basis and the outcome likely would be the same. I'm happy for those who still have jobs; sorry for those who don't; sorry it's an article of faith that American industry has become, well, socialized to this extent.

UPDATE: More to come, but Matt DeCample in the governor's office says the state's direct initial payment is $2 million from the governor's quick closing fund. The plant will earn further incentives, but only through the creation of new jobs. Local sources are also making a contribution. It's unknown at this minute whether Texas, a primary beneficiary, contributed to the handouts. DeCample said the total Arkansas contribution almost certainly will be less than the $30 million offered by both Georgia and Mississippi.

AEDC offers this summary of state incentives:

·         $2 million Quick Action Fund for plant infrastructure and equipment installation

 Performance Based Incentives

 ·         InvestArk – Sales tax credit, 6.5% of capital investment

·         Advantage Arkansas – Income Tax Credit – 2% of payroll for NEW EMPLOYEES ONLY for 5 years.  DOES NOT INCENT EXISTING EMPLOYEES

·         Create Rebate – 5% rebate for 10 years of payroll for NEW EMPLOYEES ONLY.  DOES NOT INCENT EXISTING EMPLOYEES

From the ArkTimes store

Favorite

Comments

Showing 1-1 of 1

Add a comment

 
Subscribe to this thread:
Showing 1-1 of 1

Add a comment

More by Max Brantley

  • Anybody around?

    The Thanksgiving open line.
    • Nov 23, 2017
  • Turkeys rescued in Yellville enjoy their Thanksgiving

    Farm Sanctuary, an animal protection organization, sends word that four turkeys rescued from the Yellville Turkey Trot after the annual drops from buildings and an airplane will enjoy Thanksgiving in friendlier places
    • Nov 23, 2017
  • The New Orleans charter school 'miracle'? It's a ruse

    The New Orleans Tribune has a devastating piece of editorial commentary, based on local reporting and test scores, that lays bare the depiction of the charterization of New Orleans public schools 12 years ago as a miracle of the "reform" movement.
    • Nov 23, 2017
  • More »

Readers also liked…

  • Judge anticipates punishment of lawyers in Fort Smith class action case

    Federal Judge P.K. Holmes of Fort Smith issued a 32-page ruling yesterday indicating he contemplates punishment of 16 lawyers who moved a class action lawsuit against an insurance company out of his court to a state court in Polk County after a settlement had been worked out.
    • Apr 15, 2016
  • UPDATE: Hutchinson moves to cover himself on cut to War Memorial Stadium

    Gov. Asa Hutchinson apparently felt the burn from KARK's exclusive Tuesday night on his plans to cut state support of War Memorial Stadium in half beginning July 1, 2018. He has a so-far secret plan to make the stadium self-sustaining. We bet that doesn't include state support.
    • Oct 20, 2016
  • IHOP coming down, but .....

    I always scan the Little Rock City Board for items of interest this week and this one caught my eye: A zoning measure required by a proposal to tear down the IHOP at Markham and University.
    • Apr 30, 2016

Most Recent Comments

  • Re: Anybody around?

    • Great story deadseasquirrel! I haven't heard the NPR version. As someone who grew up during…

    • on November 24, 2017
  • Re: Anybody around?

    • NVR, have you heard arlo's performance of Alice's Restaurant that was on npr some thanksgiving,…

    • on November 24, 2017
  • Re: Anybody around?

    • Max and friends please listen to first two hours of this- November 20, 2017. Dane…

    • on November 24, 2017

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation