Hmmm, I think you call this an FU
When you give a company half of Brandywine Hundred because they promise to bring jobs to the state and surrounding area, shouldn’t you put something in there that says they can’t fire those jobs they say they are going to create, or take back the land, the asphalt, the bridge, the traffic lights, the circles, the runners trail, the cop that presses the traffic light button, the tax breaks etc?
AstraZeneca said today it plans to trim another 6,000 positions in the next four years, bringing the announced total to 15,000 job cuts since the company began a restructuring program in 2007.
this is an awesome nugget too:
AstraZeneca said the expanded restructuring would save $2.5 billion annually when completed, up from $1.4 billion.
How much did they save by moving to Delaware? Seems to me, we need to offset the tax revenue with taking away their tax breaks.
DV,
You hit the nail on the head just in your first sentence. I had been railing about the complete redevelopment of that section of the 202 corridor since the deal went down and Biden, Carper, and Castle sold us out. This is the Capitalism of the USA. Corporations can blackmail the government to get anything they want all in the name of jobs, jobs, jobs. And then what happens when they suffer rough times? They give us a big ole “fuck you!”
Businesses, particularly R&D driven businesses like pharmaceutical companies, are inherently risky.
All in all, I think Astra-Zeneca has been a net benefit to the state, even with this restructuring.
And I kind of like 202 now between 141 and 95.
It makes me feel queasy to see firing people written as “saving money.”
No one ties state development money to sustaining jobs in an area. Which means that these companies can basically count your taxes as part of their bottom line for a time. And they never have to make a long term commitment to their deal. Certainly AZ does not control the economic cycle, but there ought to be some clawback provisions in these deals so taxpayers get something back once the company goes back on their deal.
Which would then take us out of the “competition” with states that are delighted to had over money with no strings.
And no matter what AZ does, I really like 202 between 141 and 95 now. Easy to get through.
But what the heck is up with the cop pushing the traffic light button? For as long as that guy has been doing that, the state or the county could have installed a traffic sensor that would do that automatically and let that highly paid cop go do what cops get paid to do.
There you go again Cassandra, trying to take jobs away from Americans. 😉
“No one ties state development money to sustaining jobs in an area.”
Not for the last 8 years anyway, as the Governor ignored everything DEDO told her about promoting businesses that are already here versus going off to Sweden looking for new ones. You may have noticed that Markell hasn’t made sweeping personnel changes to DEDO…nor is he likely to.
But what the heck is up with the cop pushing the traffic light button? For as long as that guy has been doing that, the state or the county could have installed a traffic sensor that would do that automatically and let that highly paid cop go do what cops get paid to do.
the thing is, that light has the sensors in the pavement. He is only there to extend the time on the light
Are you guys serious? Is there really a real cop pushing traffic light buttons? What a friggin waste. NCCo or DSP?
A perfect example of why government created deals and stimulus efforts are ineffective.
Should this company or others have to guarantee a number of jobs? I believe this sort of ‘jobs bank’ is what destroyed the auto makers.
@anon2700 — there is a real cop there. I see him during the evening rush hour occasionally, no idea if he is there in the AM rush hour. And he is a DSP officer.
And extending the time? There are TIMERS that works with certain types of traffic sensors, to let traffic flow in any selected direction longer or shorter depending upon the time of the day. And said TIMER even if they had to redo the sensor has got to be cheaper than a DSP officer a few hours a day pushing the button.
No one ties state development money to sustaining jobs in an area
uh, yes, it has been done andit should be done.