6 ms·

Tax kickbacks of $48k/job in NY and $22k/job in VA wth average salary of $150k/yr. Also $325mil in NY and $23mil in VA for just occupying the space. All well be

Tax kickbacks of $48k/job in NY and $22k/job in VA wth average salary of $150k/yr. Also $325mil in NY and $23mil in VA for just occupying the space. All well below the projected billions in direct investment and tax amounts. Not sure whether worth it or not, but it's all around economic growth which I see as a good thing in general. We can argue about public funds and growing pains, but this problem is better than the opposite problem. If you are in the area and oppose along with the majority of your peers, say so at the polls. But I wouldn't be surprised to find that, outside of pro-tax/anti-big-corp circles, this is gleefully welcomed.

rb808 8y ago
> $48k/job in NY That is over 10 years, so is like $5k a year.
- noer 8y ago
  even then, assuming 15k jobs in New York is $75MM/yr, which is a lot of money.
  - JumpCrisscross 8y ago
    > assuming 15k jobs in New York is $75MM/yr, which is a lot of money They'll probably pay it back in payroll taxes. The subsidy effect is an unfair tipping of the scales in favor of large companies. But mass has its benefits. You can't renovate LIC in the hope that businesses will move there. An anchor employer underwrites infrastructure with broader social benefits without requiring the city to co-ordinate lots of smaller employers. (The follow-on question being, how do we make such co-ordination easier.)
    - gwright 8y ago
      What happened to equality under the law? I hate these corporate ad-hoc tax deals. Create a rationale tax policy and apply it to everyone.
  - bilbo0s 8y ago
    That's nothing. Especially for a place like New York. Consider, in Wisconsin, we have to pay on the order of roughly USD400M to USD500M per year, for about the next ten years. And we're a state that, compared to New York, is mired in abject poverty. And to add insult to injury, that USD400M per year is for only HALF the jobs that New York is getting. And they don't pay as well. Yeah, not a good time to be a Wisconsinite.
    - addicted 8y ago
      Wisconsin also doesn’t have corporate taxes so a lot of the Foxconn benefits were structured as direct payments rather than tax breaks. And many weren’t even dependent on Foxconn employing a certain number of people, which is why now that their plans have scaled down the numbers look disastrous.

rb808 8y ago

> $48k/job in NY That is over 10 years, so is like $5k a year.

noer 8y ago
even then, assuming 15k jobs in New York is $75MM/yr, which is a lot of money.
- JumpCrisscross 8y ago
  > assuming 15k jobs in New York is $75MM/yr, which is a lot of money They'll probably pay it back in payroll taxes. The subsidy effect is an unfair tipping of the scales in favor of large companies. But mass has its benefits. You can't renovate LIC in the hope that businesses will move there. An anchor employer underwrites infrastructure with broader social benefits without requiring the city to co-ordinate lots of smaller employers. (The follow-on question being, how do we make such co-ordination easier.)
  - gwright 8y ago
    What happened to equality under the law? I hate these corporate ad-hoc tax deals. Create a rationale tax policy and apply it to everyone.
- bilbo0s 8y ago
  That's nothing. Especially for a place like New York. Consider, in Wisconsin, we have to pay on the order of roughly USD400M to USD500M per year, for about the next ten years. And we're a state that, compared to New York, is mired in abject poverty. And to add insult to injury, that USD400M per year is for only HALF the jobs that New York is getting. And they don't pay as well. Yeah, not a good time to be a Wisconsinite.
  - addicted 8y ago
    Wisconsin also doesn’t have corporate taxes so a lot of the Foxconn benefits were structured as direct payments rather than tax breaks. And many weren’t even dependent on Foxconn employing a certain number of people, which is why now that their plans have scaled down the numbers look disastrous.