Thursday, July 09, 2009

Two of Tennessee's Neighbors Wasted Stimulus by Juicing the Competition

The need for federal oversight and regulation continues. Progressive States Network's Nathan Newman cites the worst examples of states using federal assistance to overpay for jobs and steal them from other states:
  • A multi-state bidding war for a battery production consortium ended up with Kentucky offering $200 million to subsidize a 2,000-worker facility at a cost of $100,000 per job.
  • Georgia paid $100 million to NCR to move its 1250-person headquarters from Dayton, Ohio - its home for 125 years - down to an Atlanta suburb.
In the absence of fiscal restraint at the state level, it would be nice if federal regulators would step in to stop the carnage. It is federal money, after all.

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