As many of you are aware, I have been fighting what is known as state-sponsored corporate welfare for years. This practice of government offering incentives through tax relief, free land, and development grants is nothing but handouts by a government in an effort to satisfy an extortion demand by a company to relocate to a specific area. In other words, give us money, or we go elsewhere.
Why is it such a bad idea that companies never come through with their promises of a specific number of jobs, but the government still pays the money without regard for the taxpayer? Just check out this article on the electric vehicle manufacturing handouts being given out by Governor McMaster, like lollipops to a bunch of children. And don’t forget one thing: this is your money he is giving out.
Now this is being done on a state, but Chesterfield County is doing the same thing, on the county level. One of the ways they do this is with the practise of “Fees in Lieu of tax and incentive”. In other words the county just charges a fee, at a rate well below property tax rates that you, I and current companies in the county pay. One of these proposals is a handout to Duke Energy, a company that pays its CEO more than the budget of Chesterfield County.