The county commissioners on Tuesday approved a $300,000 conditional loan to help National Golden Tissue buy a vacant commercial building. The loan would convert to a grant if the company adds 120 jobs to the 70 it currently provides.
The state is providing a $1 million community block grant to assist in the $13 million acquisition, renovation and installation of two new production lines.
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6 comments:
Oh the irony considering Maryland under Democrat control has gone to sh!t.
Thats to funny...plenty of arse wiping going on in this state..watch out.gonna tax every sheet you use..to get that million back...im so outta here house STILL FOR SALE IN FRUITLAND
It used to be that you had to find your own financing, from private lenders. More and more, business is about getting the tax payer to foot the bill.
The state is paying $18k per job here. It's certainly not the worst deal that I've seen. But at the 4.75% income tax bracket, that's more than $228,000 in payroll per job before the government is paid back. If the position pays $30k (likely for semi skilled manufacturing - like $15/hr), that's 7.6 years for each of the 120 jobs.
Seems like corporate welfare to me.
It used to be that you had to find your own financing, from private lenders. More and more, business is about getting the tax payer to foot the bill.
The state is paying $18k per job here. It's certainly not the worst deal that I've seen. But at the 4.75% income tax bracket, that's more than $228,000 in payroll per job before the government is paid back. If the position pays $30k (likely for semi skilled manufacturing - like $15/hr), that's 7.6 years for each of the 120 jobs.
Seems like corporate welfare to me.
Colt employed over300..stupid md priorities....figures they annonce a crap wrap factory increase
Let's see if they are still here when all the time limits and grant $$$ runs out
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