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http://www.detnews.com/article/20110...--jobs-in-Troy
Technology firm adds office, jobs in Troy
Melissa Burden/ The Detroit News
Genesis10, a growing business and technology firm based in New York, has opened a second office in Troy.
Unfortunately they didn't choose the city.
Don't look but unemployment is going up again.
Well, I'm not surprised to see them locate in Troy. Seems like that's where all the tech parks have been for the last several decades.
What I'm troubled by is the tax credit.
"To ensure closure of the deal, the Michigan Economic Development Corp awarded the firm a $2.1 million tax credit over the next five years."
A few years ago, Troy had to give Kelly Services a steep tax break to remain in Troy. Now MEDC is handing out tax credits for a business locating there. The business gets great headlines for "investing" in Michigan, and then you find out that actually they got a sweet tax break and don't have to contribute as much to the common welfare of the state.
Weird. When people want a break, they're "losers" asking for "handouts." When corporations want a break, they're "job creators" who are "investing" in a region.
Corporate welfare is alive and well in Michigan no matter what you hear out of the Snyder administration. The handouts are done at both the state and local level. Genesis10 and Kelly Services aren't the only companies scoring tax breaks from Troy.
http://www.macombdaily.com/articles/...0011468218.txt
Hey, I'm happy Troy is getting a new employer and an office building will be getting a new tenant; our region needs everything it can get. What I don't understand is how people from the suburbs can stand on soapbox and rant and rave about subsidies to companies who locate in the city, but say nothing about subsidies given to dozens of companies that locate in the suburbs. It's ludicrous hypocrisy. We can debate the merits of subsidies for time eternal, but as long as both city and suburbs are getting them, people need to shut their faces.Quote:
Originally Posted by Novine
Their website has a curious sports theme to it. That's odd. I don't usually associate sports with a geeky thing like technology.
This is their second office in Troy. They must have had a positive experience with the first office. That is a really good sign. Repeat business draws new business!Quote:
The second office was needed because of increased demand for information technology and business consultants, the company said.
"After evaluating various locations, we chose the state of Michigan and the city of Troy for both offices because the high-caliber talent and technology expertise makes this a very attractive location," Genesis10's founder and CEO Harley Lippman said in a statement.
You cant be serious. You don't understand how a Michigan suburb might be upset that state funds [[partially funded by their residents) were used to lure a tax paying company out of their city? That's a lot different than using tax credits to lure a company from out of state.Quote:
Originally Posted by BrushStart
Let's not pretend like the infrastructure and developments that led those businesses leaving for the suburbs in the first place weren't also a form subsides. It's nothing more than labels. I don't want to mix words over this, I'm just saying that crying foul over subsidies in general is nonsense when the 'burbs seem to be using them just as freely. Furthermore, it's a bold-faced misstatement to suggest that suburban cities haven't used tax incentives to lure Detroit businesses out of the city either. I seem to remember the mayor of Warren attempting to lure General Motors out of the city using tax incentives less than 2 years ago: http://www.motorauthority.com/news/1...ith-tax-breaksQuote:
Originally Posted by detmsp
The difference is that the STATE gave tax breaks to companies to move out of suburbs... Suburbs that are also in the STATE. How pissed would you be if the federal government decided that they really liked Texas and were going to encourage companies to move out of Detroit and the rest of Michigan and relocate to Texas with your tax dollars.Quote:
Originally Posted by BrushStart
How are you so sure they haven't?Quote:
Originally Posted by detmsp