Sunday, October 4, 2020

Taxpayer funded corporate incentives fail to produce promised jobs

By Anita Wadhwani, Tennessee Lookout - When Canadian entrepreneurs touting a healthy new snack product scouted Kingsport, Tenn. as their new headquarters in 2015, local economic development officials like Clay Walker were enthusiastic. They sampled the gluten-free, non-GMO fruit and vegetable bars and worked to seal a deal that would bring 273 jobs to the northeast Tennessee town of 54,000 in exchange for a $1.2 million state grant. 

Within a year, however, Pure Foods declared bankruptcy without ever having filled the promised jobs. (This happens so often it is not a surprise. Read more.)

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