Nephron Pharmaceuticals Cites SC Crony Capitalism In Florida Layoffs
$352.3 MILLION OF YOUR MONEY … DOWN THE DRAIN We wrote earlier this week on the latest OrlandoYou must Subscribe or log in to read the rest of this content.
$352.3 MILLION OF YOUR MONEY … DOWN THE DRAIN We wrote earlier this week on the latest OrlandoYou must Subscribe or log in to read the rest of this content.
22 comments
Well Hell Wil – you can’t attract companies to SC for a low ball figure like $200 million.
You should really accentuate the fact tax breaks aren’t bad, but that they should just be for everyone instead of a select few that payoff crooked pols.
The mentality surrounding SC’s tax rate is such that a small business has a much harder time becoming a big business in state because of the disproportionate tax system that favors large companies that can afford to buy off pols and/or threaten to take their business elsewhere.
The statist’s viewpoint isn’t to create a successful low tax environment for everyone, instead it’s to “get those that we can” in terms of tax revenue….a truly sorry state of affairs.
Wouldn’t it be nice if SC was a place businesses were dying to relocate to? You know, because of our great infrastructure, educated workforce, excellent schools and temperate climate? OK, so we got one out of four. Couple that with our anti-union stance and cheap work force and you know why we’re competing to out incentive AL, MS, and TN to get manufacturing lured here.
I wonder who the next dipshit republican governor will be? Even Sanford may make a cumback.
More snot-blowing and apologizing.
Damn, I can hardly wait…
Whatever happened to that homewrecker he was sleeping with? That man is shameful.
She’s still around. She’s called Beauty of Buenos Aires, and she’s super hot!!!! She is like a little South America. Towering Andes, warm tropical breezes, European culture, and vocal in everything (and I mean – everything!!!!)
Scott will run for Governor. It’s part of his deal to be a place holder for Haley to be a US Senator (God help us and the United States of America, if this ever happens), all put together by the crooked Jim DeMint when he was a US Senator. And, funded by: “you gotta love them: The Koch Brothers.” All brought to you by their heavily funded “John Birch Society,” and their father’s money. Every dime made possible by oil deals with Adolph Hitler and the Nazi Party.
Isn’t life wonderful; when SC voters stick their heads in the ground while we all get rear ended by Texas Long Horns.
NO U DIDN’T!!!!!!!!!!
What living in South Carolina is like: https://www.youtube.com/watch?v=lrectdcH81U
Seems like built in to the tax break contract would be a clause that if the promised number of jobs are not delivered then a portion of the tax breaks go away.
A very high probability these tax breaks are rolled into cash benefits for those responsible for over-seeing these one-sided, lopsided deals, completely not in t he interest of the average tax paying victim!!!!
Did Nephron ever get FDA clearance for several of their products that had problems a couple of years ago? Failure to get FDA clearance would certainly cut into the necessity of hiring people in either SC or FL… If one can’t sell it, there’s no point in making it… &c., &c.
Trump would have negotiated a much better contract. Nephron doesn’t hit its hiring target? Incentives adjusted accordingly. Oh, and he’d make Florida pay for the incentives.
I read GE only got $20 million over 10 years in property tax ‘relief’ to move from Connecticut to Massachusetts
So, if the Nephron story is correct, whoever approved that – county, city or state – needs to be fired.
$145 million for GE move.
http://www.wsj.com/articles/general-electric-plans-to-move-headquarters-to-boston-1452703676
Fits conveniently left out that SC, unlike Florida, caps property taxes on factory equipment. That is one reason Nephron gave for moving to SC and that is a broad-based tax break to all businesses with large investments in plant equipment, not a crony capitalist picking of winners and losers.
http://www.pharmalive.com/nephron-pharma-cuts-another-250-employees-at-orlando-hq/
What are you talking about with “caps” on how SC taxes factory equipment? Are you referring to FILOT’s, which are definitely crony capitalist, or is there some part of SC’s tax code that you are referring to that you can link to that say such a cap is in existence?
Not sure if this is it or not.
SECTION 12-37-220. General exemption from taxes.
(7) all new manufacturing establishments located in any of the counties of this State after July 1, 1977, for five years from the time of establishment and all additions to the existing manufacturing establishments located in any of the counties of this State for five years from the time each such addition is made if the cost of such addition is fifty thousand dollars or more. Such additions shall include additional machinery and equipment installed in the plant. Provided, however, that the exemptions authorized in this item for manufacturing establishments, and additions thereto, shall not include exemptions from school taxes or municipal taxes but shall include only county taxes. Provided, further, that all manufacturing establishments and all additions to existing manufacturing establishments exempt under statutes in effect February 28, 1978, shall be allowed their exemptions provided for by statute until such exemptions expire;
Thank you, I appreciate that link. $50k in investments isn’t that large a sum of money, but it does once again favor big business over small.
But, but, it treats all big businesses equally. At least they don’t have to make that campaign contribution to get it. :-)
lol, well the contributions go for FILOT’s to take care of the other taxes.