Sunday, August 8, 2010

IBM "WELFARE": National financial news criticizes Columbia move

COLUMBIA, 8/8/10  (Beat Byte) --   Columbia is suffering from an "ironic scenario" -- hurting for jobs and taxes, yet eager to cough up millions of tax dollars to lure a $100 billion welfare case -- IBM, claims a columnist for Minyanville, one of the world's largest financial news outlets
"Far from being a tax haven, the state of Missouri opened up its welfare rolls and ponied up more than $30 million in hard-earned taxpayer dollars earlier this year to have IBM build a new technology service delivery center in Columbia," columnist Diane Bullock notes in an August 5 editorial, Welfare-Case Companies: IBM Corporation.   
Though IBM promises 800 jobs; $7.3 million in city taxes; and $4.3 million in school taxes over the next decade, "Missouri taxpayers had better hope that the state got the math right," Bullock quips.   
Other states haven't fared particularly well.  "North Carolina’s IBM workers are getting the raw end," of a recent tax-subsidized deal there, she explains.  "North Carolina is allowing the company to pay new workers nearly $8,000 below the local average wage." 
As for Columbia, Bullock envisions a tongue-in-cheek employment ad.
"Help Wanted.  Seeking driven, broad-minded individuals to become a part of a century-old, multinational corporation's subsidy program.  Must have basic computer skills, good customer relations, and work competently knowing their employment costs $50,000 of local taxpayer money.  Eye contact with neighbors and HTML skills a plus." 

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