Let’s say you already have a business – big thumbs up to you from me. Operating a business or organization successfully is one of the most challenging things there is. And let’s also say that you want to expand your business or invest in new more efficient equipment or training or something that is going to make you run faster, jump higher, able to leap tall buildings and so on. Where do you go for the money? The bank?
Nope. Here’s what you do.
Call a press conference, get anyone and everyone there – all your local, county and state officials if you have any in your county and you know what you say?
“I’m here to tell you that I’m sick and tired of paying the high (fill in the blank – any of the following will do – income taxes, property taxes, workers compensation fees, permitting..etc. ) and I’m going to take my company and all my jobs and I’m going to leave.”
Now, perhaps you have never even considered leaving your area. Perhaps it’s the furthest thing from your mind. Maybe you love your area and your workers. But let me tell you that as someone who used to work in the EcoDev biz, if you live in a state that has challenges in terms of building business there, then this is a sure fire way to get yourself some attention because…it works. In my area, for example, a family that owned a food distribution warehouse (which was actually doing quite nicely, thank you) pulled this deal – twice and got millions of dollars in state and local support for it.
No elected official wants to be labeled ‘The guy who lost us xxx co. and their xxxxx jobs.”
The whole economic development thing is… a racket.
Did Bill Gates go to the Redmond, Washington Economic Development Agency and demand that they do something for him? No – he wanted to be there. He grew his company where he wanted to be. Corning Glass was originally the Brooklyn Flint Glass Company and in the 19th Century, they moved to Corning, New York because of the availability of water and raw materials. Steuben County did not come up with a package of ‘economic development incentives’ because that sort of thing did not exist … yet. That system of enticing employers to move jobs and companies from where they are to where YOU are did not happen until states in the South started doing it in the 1940s. Which is how the Northeast and MidAtlantic states lost a lot of their manufacturing first to states like North and South Carolina, then Mississippi, Alabama and Georgia.
Now, why am I bringing this up today? I’ve talked about economic development before. Well, with regard to Governor Sanford (bear with me here – it’s a bit convoluted but we’ll get there), CNN reported this today:
“At a local Chamber of Commerce breakfast in Cherokee County, GOP House members Lanny Littlejohn, Dennis Moss and Steve Moss each told the audience that Sanford has lost the credibility to steer the state’s economy through the final 18 months of his term following revelations of an extramarital affair….“When business leaders start moving to South Carolina, they want to see somebody they can have confidence in,” Littlejohn told CNN. “If you lie to your family and you lie to your friends, you lie to anyone.”
As someone who spent 5 years doing economic development for a regional gas and electric utility I can tell you that business leaders do not give a flying rat’s ass about the governor of a state they are targeting…they only care about whether or not the state will deliver on their incentive package. That’s it.
They don’t care about the governor’s personal character, his or her morality, his or her relationship with the spouse, children, the odd representative of countries in South America, etc. etc. They even don’t really care about items like workers compensation or the educational or efficiency levels of the workforce (because if those things actually counted, you would not see an auto industry in Mississippi or Alabama).
They only care about two items: First – is it a Right To Work State and Second: negotiating the most government graft for themselves as they possibly can. The common strategy is to use another state as a club to threaten and extract as much as they can. Unless they have a need (as in warehousing and/or retail in terms of serving a market) to be in a particular state which just so happens to NOT be a Right to Work State, the number one item on their lists is: Is this a Right to Work State – if yes, then include it; if no, then throw it out.
It doesn’t matter if they use an ED consultant (and I worked with many of those “professionals” when I worked in ED) or are doing it all in-house. The very first item on their check list is the issue of Right to Work. I know it is counter intuitive in terms of issues such as worker education, efficiency, access to facilities and so on, but that is the fact of it. There is a huge ‘wanna’ factor in Economic Development (as in “We wanna be here” and “We don’t wanna be there”). They may SAY that they want a workforce that is efficient and educated. They may SAY that they want a site that already has rail and fiber optic cables and access to an entrance and exit (or, as they say in the biz, a ‘diamond’) on an interstate highway. They may say that they want to be part of a cluster of industries that is in your state. All of those items are secondary, even tertiary.
If your state is a ‘Right to Work’ state, you are in the universe of possibilities. If your state is NOT, you are not even on the map. Your state might as well be in Siberia or Africa as to any sort of attractiveness it might have for business to move to you. For all the grousing about Workers Comp rates or income taxes or property taxes and so on, it really boils down, first to the issue of Right to Work. You can have the brightest, most hardworking workforce, people who show up on time, every day, put in 8 hours solid with no gold bricks and so on.
If your state is not Right to Work, that has no value. Your universities have no value. Your highways and facilities have no value. If your state IS Right to Work, no matter how poorly educated your workforce is…no matter how little research and development is being done by the universities in your state, no matter how poor the rail or highway systems are, no matter how little access there is to fiber optic cable…as long as your state does not blink when companies and their consultants bring our their laundry list of demands (free land, Greenfield property, installed rail, installed fiber optic cables, reduced prices on natural gas and electric power, state paid training for workers, facility built to their spec on a sale/leaseback arrangement and so on), then you are basically home free.
Unless a business has a big ‘wanna’ to be in your state, if you are NOT a Right to Work state, throwing money and resources at them is a worthless gesture. As a matter of fact, even if your state attracts them; even if your state has ‘job clawback’ legislation (that is, if the company doesn’t produce the number of jobs they promise within a certain period, they have to give back a certain percentage of the incentive money), the company will not care. There are companies that consider wherever they are as temporary. If they are in the back office or call center business, they can and will de-install their entire operation in 24 hours, pack up the tractor trailers in the middle of the night and will be gone before the first shift shows up on Monday morning at 7 a.m – all to take everything to the next state or community offering them ‘more and better’.
So, Mr. Littlejohn’s comments regarding Gov. Sanford’s perceived liability in terms of economic development are a pretty empty indictment; South Carolina has one of the highest unemployment rates in the country NOT because the state has not thrown a tremendous amount of economic development money out there – they play the game as hard as any southern state does. They have a high unemployment rate for the same reasons that other states that have manufacturing bases that appeal to consumers do – consumers are not spending money. They are not buying.
But if I had Mr. Littlejohn and his buddies here, I’d tell them this (and this is the same thing I said over and over again when I was doing ED but because everyone has so much invested in playing the incentives and consultants game that no one is brave enough to do it):
Never use incentives to get a company to bring in jobs from someplace else; you are cannibalizing other communities and put yourselves at risk for another state or community to do the same to you.
All those millions and millions of dollars that you are extracting from the pockets of the taxpayers of your state are going to help the company – not the people of the state. Better to use a good piece of that money to improve the schools of your state – unless of course your interest is in having poor public schools forever for race or class reasons.
Better to use some of that money to improve the infrastructure for the entire state rather than for small industrial clusters.
Better to use some of that money to invest in locally owned and operated companies. You won’t have to promise these folks the earth to get them to come into your state – they already want to be there. Help them to grow there.
South Carolina does not have 12.1% unemployment for the month of May because Governor Sanford is going through an extended Midlife Crisis. And trying to pin that on his extracurricular activities is just political game-playing.
(game board photo courtesy of Chris in SEA)





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Actually, Toby, Microsoft was originally incorporated in New Mexico and had offices in Albuquerque. That was back in the day of the Apple II and their big product was a BASIC interpreter for the Apple II.
When Gates and Allen couldn’t get a business loan to expand, they went looking for greener pastures. Gates decided that he wanted to be back home in Washington state, so it was off to Redmond. Thanks ever so f***ing much, SunWest and all you banksters up in Albuquerque.
But, he went where HE wanted to be – the ‘wanna’ factor was just as strong for Gates as it was for a business guy we tried to work with who ended up going to Annapolis, MD … because he wanted to be able to get on his boat by 4:30 p.m.
The worst part of this phony development is that when times get rough, the company has no real reason to be in the sucker state. Take Spring Hill, TN. It ate up bunch of truck farming land for Saturn factories and related business and loads of houses. GM closes, it has no real reason to be here other than cheap non-union labor. Who the heck else wants to be there? There will be misery there as families leave and no one buys the old house, the related businesses fold, and shopping centers go vacant.
And the land is ruined for truck farming, so those of us in Nashville get to eat food trucked in from farther away.
I propose an alternate state development model.
We let the corporations and their consultants make demands, threaten us with what other states are allegedly doing, etc. Then we charge them with extortion and convict them under a specially enacted definition of said crime. The punishment? A fine in an amount set to compete with the claimed value of the move to our fair state.
A man can dream, can’t he?
This is how you get the birth of a 12.1% unemployment rate:
http://www.corridorofshame.com/
Well, there are 1352 guitar pickers in Nashville!
Nashville Cats
Political game-playing = traditional South Carolina politics
Republicans are looking for something, anything to distract the voters from Sanford’s dereliction of duty. South Carolinian workers know that if they had done what Sanford did, they would be summarily fired.
Toby, you are spot on as usual.
Poor ol’ naive San Antonio has fallen for a bunch of those deals over the years – and they keep falling for them, even though a goodly portion of the public howls now when a new one comes up.
Oh, and another lesson in why the death of newspapers is going to be the death of democracy – one of the columnists laid off at the local paper is the one who railed the most at the last such proposal.
The most egregious (sorry “egregious”) case was American Airlines, who 20 yrs or so ago brought its reservation center here, just as we were gearing up to be a call center capital. got all the usual tax rebates, etc., contracted to bring x number of jobs for x number of years, get rebates for same x number of years:
the year the rebates expired, the company shut down, packed up,a nd went back to Dallas.
And yet, our city government keeps falling for the ol’ football trick.
(and yes, the horrible 2-terms term limits for city council has a lot to do with that. No sooner do they learn who’s got the power to do stuff, than they’re out. great idea, term limits.)
Sorry, Toby – you got me goin’ with this one.
OT: mods, i received an email this morning from Tyler Durden with the subject line Zero Hedge Announces Whistleblower Program. When I opened it, it had a banner across the top saying FDL Action.
Is this actually from FDL?
Off topic:
More right wing plagiarism! This time by a republican candidate for Governor of Maine…
http://whitenoiseinsanity.com/…..aign-logo/
Republicans can’t win an election by running on their morals, values, and ideologies, so they have to resort to plagiarism, lying, cheating, and stealing instead. Spit.
Since Limpy Limbaugh blamed Obama for Sanford’s affair, it’s really Obama’s fault that South Carolina unemployment is so high. Republic logic in action!
thanks Tarheel.
I was afraid I was the only one hammering on the dereliction of duty angle.
FunnyWheelieDiva
Mississippi is a right to get jerked state. We got Nissan. Please be on the lookout for a Rush lookalike named Haley Barbour, also from MS.
Enjoy.
With all due respect, along with 10 & 11 above this makes it an OT triple play:
Gas at the pump shouldn’t be over $1.50 a gallon. Anything above that is Goldman Sachs & friends gaming the system.
BTW, some of your tax dollars are paying to keep those barrels afloat at sea.
Be proud.
David Cay Johnston details the racket very well using Cabela’s as the epitome of a gimme corporation in Free Lunch.
America is in the process of getting southernized.
We’re all Alabaman’s now.
-G
Here’s my hypothesis. Jenny Sanford is the politician; Mark is the quasi-willing front man, South Carolina not yet ready for a female governor. Mark is tired of being in the limelight; he really does not want to run for president, but Jenny can see herself as First Lady. So he kisses away his prospects, literally.
Like I said, it’s only a hypothesis.
Ah, crap on a stick. The man is certifiable. Who’s gonna sign the certificate?
That’s 30 tankers doing time arbitrage on less than one day’s worth of global consumption. (Global consumption is about 88 Million barrels per day).
it costs about $2.50 per barrel per month for a tanker. So the time arbitrage is just a way of physically buying oil futures, you pay for the storage and take a risk that oil prices will not go up enough to give a profit after paying the tanker fees. Of course you’ve got to have the money or financing to buy 2 million barrels of oil ($140,000,000 or there abouts, plus the $5,000,000 per month for the tanker).
How are tax dollars being used here? for protection against piracy?
yes, yes, and yes !
Free Lunch opened my eyes to similar skullduggery going on in our little Central Texas town – ironically, last fall’s economic downturn put the kibosh on their “plans”
did I mention Mister Econ Devlopment his own self was a county Repub poo-bah ?
p.s. they really hated it when “that mouthy waitress” was right about
everythingtheir credit drying up and dashing their dreamswell, since pawlenty’s already got one to sign (hah) why don’t we let him do it?
Here’s my hypothesis, fresh out of the inferno. The real reason Mark Sanford boinked a Buenos Aires bimbo is that he was suffering from Michelle Obama envy. That’s right. It’s not Barack’s fault after all. It’s that strong-spined, straight-talking, upper arm blessed woman who occasionally locks eyes with her man in a way that says, “We are, like, so totally a couple by every definition, baby.” So in the depths of despair at being married to a woman who doesn’t give a rhino’s patoot about his career, who can blame him for straying? I mean, really, who? Those Obamas are a blight on the family values landscape. They have some. Damn ‘em. Etc.
one little bit of O/T before I’m off to read Toby’s post -
C Street/The Family – Terry Gross had author Jeff Sharlet (sp?) on Fresh Air today – yeay !!!
hoping the sunlight will spread
tee hee . . . good one!
I blame Ass Limbo for depleting the ozone layer because he won’t shut his mouth for 10 seconds.
Wow, what a wonderful explanation of something I had no understanding of. Thank you, Toby. This sure explains a lot about how companies end up where they do, and why they move around so much.
well, for the hell of it, i just checked, pawlenty and ritchie (secy of state) both signed it last night. we’ll have to get someone else.
Gee what a recipe Toby for ED. You sure do make it clear that Corporate America could care less about anything but their PROFITS! GREED at work… the old I want more & More & More… fuck the people and the State where they are currently located. And wouldn’t ya know it our elected officials fall for their greed ploy every time!! We are so fucked in this country by the very companies that We helped grow in the monsters they are now. It is all just the me me me meanness of it all that sickens me (:
Noobs. What the masters do is get millions of dollars in state and local support and use it to finance your move.
It doesn’t matter if they use an ED consultant (and I worked with many of those “professionals” when I worked in ED) or are doing it all in-house.
so what was it like to meet Bob Dole? :~)
Ah. Le Veritable Punaise — nope, I never met Bob Dole. But I did meet some hucksters that would have put Harold Hill from “The Music Man” to shame.
Nahant – it’s a game. And like all games, there must be a winner and a loser. It’s always a zero-sum game. And because the whole thing is political – because there MUST be someone who gets to do the ‘grip and grin’ photo and gets to put on their campaign literature, “Brought xxx jobs to blah, blah, blah” – all the thinking and planning is short term. Example: one of our townships promised the earth to get a copier research and manufacturing plant. They even created a brand new commercial park for it – the one thing was that the company DEMANDED that they have municipal water and sewer, two things that the vast majority of people in the township did not have. They did the deal, built the plant, and the people in the area had to put up with and pay for having water and sewer put in (and of course all of these folks had their own wells and septic systems), the bond for the building and so on. The company deep sixed within 5 years – leaving the taxpayers in the township to have to continue to pay for the bond…the water…and the sewer. The company was not local (I think it was actually from Connecticut); they did not care.
LOL…
60 million barrels of distillates at sea is not enough to move the spot price much. Global consumption is ~85+ million barrel per day. Judging from the history of previous market corners, cornering the market in a commodity requires that you control a significant fraction of the total supply of that material, not less than a day’s consumption. Saudi Arabia isn’t even big enough to do manipulate the oil market on that scale on their own — they have to enlist the help of their OPEC buddies in order to do so. Goldman Sachs just isn’t in that weight class.
No, I believe it was recently revealed TARP money was used to lease the tankers that store oil.
I wasn’t trying to say the oil stored in tankers was the sole reason for higher prices, just wanted to point out the supply overhang.
As for Goldman’s involvement, serving as cheerleader to ever higher oil futures prices while profiting from that same trading activity (and providing 35-1 leverage) was their contribution to the $147/ barrel we were paying last year.