Chase To Add 1,200 Jobs – How Many to Delaware Residents?
The story of corporations holding guns to the heads of states continues. Chase has promised to add 1,200 jobs in Wilmington and Newark in return for $10 million from Delaware. Truly, a nice gig if you can get it. Anywho, 1,200 “well paying” jobs is kind of cool, but how many of these jobs will go to Delaware residents? I see the steady stream of people from Pennsylvania coming into Wilmington every work day. Will this only increase? Or will those living in Delaware neighborhoods benefit the most?
10,000,000/1200 = $8300/job It’s a bargain!
So basically the state has given Chase a few years of income tax receipts from those ‘well paying” jobs.
I wonder if there isn’t a training program on how to get this kind of money from the state. $10M could do alot of good in my neighborhood, and every penny of it would be spent to employ local people, improve a local neighborhood and you could drive by the results for years. Maybe the key might be to incorporate the neighborhood as a bank?
Chase not only gets the money in the deal, but two Senators and a Congressman.
Sure, adding jobs is a good thing. But if recent history has shown us anything, it’s that the banking industry is very volatile and the prospect for them to be long-term employers is risky. Besides, the banking industry is very transient. The weight of their equipment consists mostly of computers and telephones. Why can’t (when will?) we attract more industries and businesses that are more durable and less transient–employers that, given the nature of their enterprise, are more likely to be invested to stay long-term in an area once they get established?
Like many other industries, the banking industry also relies heavily on people. The chances of those jobs going to Delaware residents depends on the requirements for the job and the qualifications of the Delaware residents. Companies want a stable workforce even if the jobs are cyclic. I don’t undertand why PA residents would get those jobs over Delaware residents unless the PA residents are better able to meet the job requirements.
Matt Denn has a gag-worthy fb post up about how great Jack Markell is for the Chase jobs deal.
“Maybe the key might be to incorporate the neighborhood as a bank?”
Only if you’re paying the employees enough for the state to make up the cost on their taxes.
Nemski: Until we outlaw people moving from state to state, why should we outlaw working in a state other than the one in which you live? Some Pennsylvanians will take jobs here and move here to shorten the commute. On the other hand, some are like my boss, who lives at the northern end of the Blue Route not because he enjoys the 1-hour commute but because his wife’s job is in Allentown. And then there are people who work in Philly and commute from Smyrna.
In short, when your state is only 20 miles wide, it’s going to be pretty hard to confine hiring to those who already live there.
“Matt Denn has a gag-worthy fb post up about how great Jack Markell is for the Chase jobs deal.”
In other news, night dark, water wet. Film at 11.
I used to commute from Wilmington to Philly to work. I got a latte every morning at Suburban Station, I ate lunch in town, and sometimes I went out after work before coming back to Delaware. Even if some of the jobs go to people from PA, Delaware will see a benefit, but I would imagine that there are enough laid off banking upper management people in Wilmington to fill the positions.
Well, I’m back at the old “candid Camera” idea of closing the border. I don’t give a good damn how many lattes someone buys on their lunch break. My neighborhood (like so many Delaware neighborhoods before it) is treated like a thoroughfare by PA commuters, who throw trash out their windows onto my lawn and crash into my neighbors’ mailboxes when they’re drunk. I sit downstream of considerable pollution created by over-development over which we have no possible input, and reap the whirlwind of their use of services they pay almost nothing to support. I watch the cultural institutions of my downtown compromised when they roll up the sidewalks at quittin’ time, and everyone scoots back to their HD tvs.
Tax incentives that don’t include a residency requirement are just cash in the pockets of politicians, understand that. The corporations would RATHER have their employees be out of state. That way, the only “quality of life” issues they’re invested in are covered by HR. If the company wants to bulldoze a neighborhood to build or walk away from a building, so what? That browned out spot isn’t even in their school district.
This is not a coincidence;it’s a calculation.