Once again, I do not understand the math, but I do know why this guy is smiling.
“HOPKINSVILLE, Ky.– Gov. Steve Beshear today joined community leaders and company executives from DENSO Air Systems, a global automotive parts manufacturer, to announce the company will locate a new manufacturing operation in Hopkinsville. The Japanese-owned company is planning a phased investment totaling more than $4.2 million and will initially create 80 new jobs, growing to 105 over the next several years……
The Kentucky Economic Development Finance Authority preliminarily approved DENSO Air Systems for tax incentives through the Kentucky Business Investment program. “
The press release omits the amount of incentives DENSO is getting. Denso is getting $2.45 million in incentives. In other words 58 percent of the cost of this project is being paid for by the tax payers of Kentucky.
The press release omits the amount of incentives DENSO is getting. Denso is getting $2.45 million in incentives. In other words 58 percent of the cost of this project is being paid for by the tax payers of Kentucky.
I have yet to find a politician in this state that is not delighted to give Kentucky tax dollars to huge multi-national corporations.
“This would be an exciting announcement for Christian County any time, but especially during these tough economic times,” said Sen. Joey Pendleton of Hopkinsville.
“DENSO Air Systems has an unmatched global reputation, and it will be a terrific corporate citizen in our community,” said Rep. John Tilley of Hopkinsville.
“We are excited to announce DENSO Air Systems’ decision to locate its operation in Commerce Park,” said Christian County Judge Executive Steve Tribble.
Maybe we should give these guys from DENSO a break. They only made $89.5 million in net profit, emphasis on net profit, last year.
So how could we really expect these guys to pay their own way?
They are going to make a single yen from this plant. Right?
