review the early information. The German headquarters indicated they hoped to make an announcement by the end of the third quarter, 2011; that was this past Friday. Now they refer to a decision by year's end.
This is business; and they're going to go for all they can squeeze out of the state which is chosen.
From articles reviewed, it appears a portion of the incentive is $45 million in loans which will be forgiven at a rate of $3 million per year for 15 years. So if they stay for 15 years, which given the capital investment required for this type of facility is very likely, they get the $45 million at no charge.
Another incentive involves $1,900 in tax credits for every new employee hired; I believe those are the quoted numbers.
On the other hand, before the first tire is created, this project will inject millions into the area just from the construction of the production plant and supporting facilities.
Funny that Bev would take off for Asia rather than trek to Germany and use her powers of persuasion to bring home the bacon. Maybe she's planning a second foriegn junket for the fall.
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