Monday, September 24, 2012

Holland Battery Plant Burning Through $250 Million in Taxpayer Dollars. Jobs Scarce

Mackinac Center Has posted a story about LG Chem in Holland, MI. They have received $151 million in subsidies from Washington and another $100 million from the state. They promised 443 jobs, but few have materialiazed. As Chevy Volt sales sputter, the plant, which produces batteries for the car, has been furloughing its 200 employees intermittently. Read more here.

By the way, Simple math: $251 million in taxpayer subsidies, 443 jobs = $566,591.00 per job. But since there are only 200 people working at the plant, a more realistic taxpayer cost per job would be $1,255,000.00. Here is a background story from the Holland Sentinel.

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