John Mozena hopes that one day he can stop saying “I told you so” about corporate welfare in America.
However, Mozena, president of The Center for Economic Accountability, won’t be able to make such a declaration after Rivian Automotive paused its $5 billion plant in Georgia.
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After Michigan taxpayers gave $1.75 billion for Ford’s Marshall electric vehicle factory, the company will lay off workers.
Michigan gave the money under the promise of creating 2,500 jobs, but the company cut 3,000 jobs last summer and expects a $3 billion loss on EVs in 2023. After those job cuts, a Ford spokesman said the company has nothing to announce.
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On Thursday, Gov. Gretchen Whitmer named The Right Place president and CEO Randy Thelen to the Michigan Strategic Fund board.
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General Motors (GM) garnered national headlines when it promised to invest $6.5 billion in Michigan, but the people negotiating the deal’s claw back provisions might only require GM meet half of that investment and 80% of the original job creation promise, despite taxpayers still footing an $824 million subsidy.
When in front of the press, GM and Michigan promised the factory would support 4,000 jobs and retain another 1,000 – a cost of about $206,000 per job created, and if it failed, Michigan could claw back a sizeable portion of that money.
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Projects in the rural communities of Clinton, Hampton, Keokuk, Lake City, Maquoketa, Red Oak and Stanton will all together receive $250,000 in Strengthening Communities grants, the Iowa Department of Cultural Affairs announced Thursday.
The Iowa legislature appropriated funding for the Rebuild Iowa Infrastructure Fund for the Strengthening Communities grants. The grants support communities of fewer than 28,000 residents (based on the 2010 Census) that are renovating facilities or undertaking construction projects that promote “youth development, healthy living and social responsibility.” Organizations must present a minimum of 50% of the grant amount they request. The funding must be secured, dedicated to eligible expenses, raised through public and private funding (not including state funding), and be spent between 2022 and 2024.
The funding will support the following projects:
$65,000 for the YWCA in Clinton’s reconfiguration of childcare spaces and youth classrooms to expand capacity and improve efficiency to help increase child care accessibility and provide a safe environment.
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Gov. Gretchen Whitmer called on the Legislature to provide more taxpayer money to the Michigan Economic Development Corporation (MEDC) to attract businesses, but an economic development analyst and GOP leader disagree.
Citing Ford Motor Company choosing Kentucky and Tennessee to build electric vehicle battery plants instead of its home state, Whitmer called on legislative leaders to give the MEDC “more resources and more advanced procedural and legal tools” to pursue projects.
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