Perhaps Jack Markell’s favorite poster child for economic development has given Delaware the finger. SevOne is conducting a series of ‘brutal layoffs.’ And, of course, the Delaware Economic Development Office doesn’t know how much money the state won’t get back. Here’s the (no) money quote from the News Journal story:
“They are laying off so many people I had to wait [hours] to get my severance,” the worker said. “It’s like standing in a line for a guillotine.”
It’s not clear where Delaware will stand in this line. Here’s what we know:
Outfitting SevOne’s new building was backed by $1 million worth of taxpayer grant approved in early 2015 by the Delaware Office of Economic Development (DEDO). Most of that state funding was tied to SevOne’s promise to add 150 jobs through the start of 2021. The agency also approved another $480,000 grant for SevOne in 2012 that was tied to the addition of 122 jobs.
I’ll bet that those are far from the only commitments that DEDO has made to SevOne. And, unless I missed it, most of what DEDO does will remain sheltered from prying public eyes.
Because that’s the way everybody in power wants it.