Is it right when States use “Pay for Play” as an economic development strategy? Does the lost tax revenue make up for the increased jobs that put food on the table and allow residents to buy houses?
Depends? The way the legislation is crafted that give the tax break is critical and so far I like the bill that gives Form Energy the incentive to locate in Hancock County. It just passed the House and now must pass the Senate. Under the bill,. the jobs have to pay at least $63,000 per annum and 750 people need to be employed and remain employed after a certain number of years or the tax breaks go away. Del. Mark Zatezalo, who is actually the Delegate who represents the area sees it as win-win for his district which had appeared to be bereft of hops until now. Finally, the former Weirton Steel property will be a job producing area and ancillary businesses can procreate.
Del. Pat McGeehan who represents District 1 just up the River vehemently fought the bill questioning the investors. Interestingly enough McGeehan sai this one out and did not vote yay or nay on the proposal. I have a real problem with that. We send McGeehan to Charleston to vote not sit on a fence.
The bill now goes to the Senate to undergo similar scrutiny. Urge your Sens. Weld and Wakim Chapman to cast their vote in the affirmative. Let’s make sure this opportunity doesn’t slip through our fingers.
