Louisiana Lost Again

[BrainSmashR]

Originally Posted by rhertz

Does anyone remember when Shreveport spent $1M to court Boeing when they were thinking of building a plant here. If I recall, Boeing ended up not building the plant at all...

Well, I'd have to say that a million dollars, even though it's quite steep for 1 city is still within reason to try to attract a company like Boeing.....wasting nearly 2 billion on a failed venture, even if a fraction of that is economic incentives is still going WAAAAAAAAAAAY to far.

I suspect Shreve would have seen a profit within 2 years on a 1 mill investment. How long before over 2 BILLION dollars worth of Louisiana Steel get's sold?!?!?!

[joepole]

I think the estimates were about 5 years. It's tough to nail down exact figures because most of the discussions were private.

Also, much, if not most, of the incentives were eliminations of taxes/fees that would otherwise be added by their presence, not expenditures of existing funds. It's all pretty standard economic development stuff. I'm no Blanco fan, but this deal wasn't outrageous.

[Isaac-Saxxon]

Kathy Blanco's road to hell She will have to go down as one of the lamest ducks to ever be Governor of this state. Damage done time to move on and hope to draw a better card next time.