Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
Why isn’t the DOJ investigating and stopping this.
Let’s see what are the numbers of business employees gained versus lost in Illinois when you don’t include the businesses lured here because of massive taxpayer subsidies.
… similar to looking at the Illinois population gain/loss if you don’t include illegal immigrants
The Gen Ass has been doing this for decades, but it’s becoming more urgent now. They can’t help themselves from overspending, but they don’t want their fingerprints on the bill when it comes due, so they pass the buck to the local governments and let them catch the flak. Cowardly and despicable, but utterly predictable.
I can envision the headlines now on how this thing of Pritzker’s is saving the planet while cutting Illinois power bills. Naturally the Illinois media will do its best to blabber it for Pritzker’s Presidential run showing once again the media’s love for Pritzker’s ad dollars. In the long run this will hurt the media organizations but Pritzker could care less because he thinks he will be President by then.
Illinois is lucky to have Gotion. Lots of other companies are leaving Illinois. Be thankful someone is willing to deal with all the BS Illinois gives to companies. If you do not want to do business with China, then do not shop at Wal Mart or many of the other stores. Lots Chinese students at UI because Illinois students go out of state and many do not come back.
So, I guess you’d be fine with Illinois taxpayers subsidizing Chinese Walmart suppliers, even the ones directly tied to the CCP.
Lots of other states would like to have Gotion. The Chinese are leaders is batteries. If they were to let Chinese cars (better and cheaper) in the US the American auto business would take a huge hit. This battery plant will create jobs so badly needed in Illinois. It will hardly make up for all the many businesses that are fleeing the state. Illinois is in a free fall and this will only slow the decline. No one in their right mind would come to Illinois to open up a business. The financial mess it is in is no secret.… Read more »
This company ‘s business model is to harvest taxpayer provided handouts.
Seems like a smart business model when a large part of the economy is built on government spending. It would be foolish for any company to ignore. Certain industries it would place you at a competitive disadvantage to not get taxpayers subsidies. Hospitals, nursing homes, insurance companies all take in money from Illinois Medicaid spending.
Didn’t know China was such a pro union country.
Next up, by your theory, we need Chinese road contractors
A quick look at the Manteno village public info and you see that Gotion is getting $325 million in subsidies. That doesn’t include $213 million in REV tax credits from Illinois and a cap on their property taxes at $2 million for 30 years. So they get a $1+ tax credit for every $3 they spend, assuming the project costs them $1.9 billion and their taxes would be a conservative $100 million over 30 years, not 60. (I am not sure this admin would give them federal tax credits but this spending is before anything that might be available from… Read more »
The moral of the story is that businesses can be successful in Illinois as long as Illinois taxpayers heavily subsidized them.
Still seems like taxpayer abuse to me.
All those communists are laughing at us
while they count all the trillions of yen we send to them.
Jay Robert will announce at his victory ball
reelection Dinner that egg rolls will be the main course.
can’t wait for the stars on the red field to be hoisted over the Springfield dome.
Businesses aren’t getting sweetheart deals as Gotion, the failed Lion Electric, etc. are/did and are in reality being driven out by high taxes and the costs of doing business in IL in comparison to other states. Spot the difference.