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Corporate welfare occurs when the government takes hard-earned money from taxpayers and hands it to corporations and special interests through sweetheart deals like direct subsidies, tax loopholes, or tax rebates.
The original Robin Hood is known as a brave outlaw who stole from the rich to give to the poor alongside his band of Merry Men.
Gov. Roy Cooper’s reverse Robin Hood scheme turns the original story on its head—he takes money from middle-class residents of the Tar Heel state to give to rich and politically-connected business owners.
North Carolina’s corporate welfare story begins with the One North Carolina Fund and the Jobs Development Investment Grant program.
Since taking office, Gov. Cooper has committed to spending over $182 million in taxpayer money to pad the pockets of special interests.
Credit Suisse and Infosys alone have been granted over $62 million. Gov. Cooper is also trying to make deals with public money to lure Amazon to North Carolina – even after offering tech company FoxConn $540 million, only to lose them to Wisconsin.
Corporate welfare policies give taxpayer money to big corporations as an incentive to “create jobs” in North Carolina.
But wealthy corporations can afford employees on their own—without taking money from hard-working North Carolinians. Corporate welfare doesn’t help taxpayers, it only hurts them.
We need Gov. Cooper and North Carolina lawmakers to side with taxpayers instead of special interests. Tax rates should be low and applied fairly, to only fund the core functions of government; not corporate welfare schemes.
Corporate welfare is not pro-growth or pro-freedom.
| Company | # of Jobs | Amount | $ per Job |
|---|---|---|---|
| Clearwater Paper Corporation | 180 | 2635200 | $ 14,640.00 |
| Corning Optical Communications LLC | 210 | 2613600 | $ 12,445.71 |
| Corning Optical Communications LLC | 200 | 2124000 | $ 10,620.00 |
| Alevo | 200 | 2638000 | $ 13,190.00 |
| Continental | 160 | 1604700 | $ 10,029.38 |
| Trilliant Networks | 130 | 1329000 | $ 10,223.08 |
| Credit Suisse | 1200 | 40200000 | $ 33,500.00 |
| AXA | 550 | 11800000 | $ 21,454.55 |
| Infosys | 2000 | 22400000 | $ 11,200.00 |
| A Wireless | 250 | 1100000 | $ 4,400.00 |
| Pfizer, Inc. | 40 | 250000 | $ 6,250.00 |
| Allstate Insurance Company | 2250 | 17800000 | $ 7,911.11 |
| Albemarle Corporation | 200 | 4300000 | $ 21,500.00 |
| Fibertex Personal Care | 145 | 1966500 | $ 13,562.07 |
| Fresenius Kabi | 445 | 7200000 | $16,179.78 |
| Mako Medical Laboratories, LLC | 153 | 3160000 | $20,653.59 |
| Corning Incorporated | 111 | 1236000 | $11,135.14 |
| Corning Incorporated | 317 | 3215250 | $10,142.74 |
| Conduent Incorporated | 200 | 2100000 | $10,500.00 |
| Trangle Tyre | 800 | 20100000 | $25,125.00 |
| Sunrise Global Marketing, LLC | 187 | 1377000 | $7,363.64 |
| Tristone Flowtech | 302 | 1008000 | $3,337.75 |
| Dhollandia MFG, LLC | 150 | 1461600 | $9,744.00 |
| RiceWrap Foods | 306 | 1896000 | $6,196.80 |
| Ernst & Young LLP | 375 | 3216750 | $8,578.00 |
| Corvid Technologies LLC | 367 | 9000750 | $24,525.20 |
| Egger Wood Products | 400* | 5300000 | $19,500* |
| Advaned Digital Cable, Inc | 15 | 50000 | $3,333.33 |
| Sealed Air Corporation | 25 | 100000 | $4,000.00 |
| Linamar Forgings Carolina (LFC) | 31 | 62000 | $2,000.00 |
| DHL Supply Chain | 140 | 200000 | $1,428.57 |
| InterMarket Technology | 57 | 50000 | $8,779.19 |
| Quality Enclosures | 65 | 150000 | $2,307.69 |
| TEAM Industries Andrews, Inc | 20 | 50000 | $2,500.00 |
| GE Aviation | 146 | 555700 | $3,806.16 |
| Egger Wood Products | 400* | 2500000 | $19,500.00 |
| Company | # of Jobs | Amount | $ per Job |
|---|---|---|---|
| Mountaire Farms | 65 | 200000 | $3,076.92 |
| Keihin Carolina System Technology | 42 | 150000 | $3,571.43 |
| Oerlikon | 93 | 1000000 | $10,752.69 |
| Carolina Structural Systems | 71 | 200000 | $2,816.90 |
| Baxter International | 90 | 1000000 | $11,111.11 |
| Taylor Stave, LLC | 28 | 84000 | $3,000.00 |
| MAS Holdings | 133 | 575000 | $4,323.31 |
| SouthCorr, LLC | 22 | 50000 | $2,272.73 |
| Palziv North America | 40 | 40000 | $1,000.00 |
| Ryan-AL, Inc. | 53 | 150000 | $2,830.19 |
| Weitron, Inc. | 31 | 90000 | $2,903.23 |
| Borealis Compounds, Inc. | 37 | 100000 | $2,702.70 |
| Adhezion Biomedical, LLC | 40 | 100000 | $2,500.00 |
| HPFABRICS, Inc. | 260 | 250000 | $961.54 |
| Ventura Coach Corp. | 61 | 200000 | $3,278.69 |
| Stormberg Foods, LLC. | 60 | 125000 | $2,083.33 |
| FCC (North Carolina), LLC. | 28 | 90000 | $3,214.29 |
| Williams-Sonoma, Inc. | 72 | 300000 | $4,166.67 |
| TrueLearn, LLC | 44 | 50000 | $1,136.36 |
| Revlon | 55 | 100000 | $1,818.18 |
| New York Air Brake, LLC | 28 | 50000 | $1,785.71 |
| LS Tractor USA | 31 | 60000 | $1,935.48 |
| Edwards Wood Products | 46 | 150000 | $3,260.87 |
| Superion, LLC | 80 | 160000 | $2,000.00 |
| Advanced Superabrasives, Inc | 47 | 100000 | $2,127.66 |
| Airgas USA, LLC | 35 | 100000 | $2,857.14 |
| VEKA | 102 | 500000 | $4,901.96 |
| Advaned Digital Cable, Inc | 15 | 50000 | $3,333.33 |
| Sealed Air Corporation | 25 | 100000 | $4,000.00 |
| Linamar Forgings Carolina (LFC) | 31 | 62000 | $2,000.00 |
| DHL Supply Chain | 140 | 200000 | $1,428.57 |
| InterMarket Technology | 57 | 50000 | $8,779.19 |
| Quality Enclosures | 65 | 150000 | $2,307.69 |
| TEAM Industries Andrews, Inc | 20 | 50000 | $2,500.00 |
| GE Aviation | 146 | 555700 | $3,806.16 |
| Egger Wood Products | 400* | 2500000 | $19,500.00 |
*Figures are for total JDIG and One North Carolina Fund grant.
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