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The Wisconsin Foxconn saga should teach us all to be highly skeptical of the claims that companies make when seeking these types of subsidies: https://www.bloom
by brown9-2 8y ago
The Wisconsin Foxconn saga should teach us all to be highly skeptical of the claims that companies make when seeking these types of subsidies: https://www.bloomberg.com/news/features/2019-02-06/inside-wisconsin-s-disastrous-4-5-billion-deal-with-foxconn https://www.bloomberg.com/news/features/2019-02-06/inside-wi...
Analyses of the Amazon-NYC story should factor in the probability that the 25,000 promised jobs would never have fully materialized.
- whatok 8y agoAmazon should not be compared to Foxconn just because they both happen to be topical. Amazon would need to hit targets to get the tax breaks. There is no way that committing fraud or completely misleading NYC would be worth the reputation hit Amazon would get all for just $3bn over ten years.
- brown9-2 8y agoI’m not suggesting fraud, just that we should take forecasts for what they are - forecasts, not guarantees. However it seems to me that Amazon did not seem to mind taking a reputation hit with the idea of a year-long “search” and bake-off for HQ2 where the results were obviously pre-determined in advance.
- whatok 8y agoSure, forecasts are forecasts but their tax incentives are not tied to their forecasts so what's the big deal?