Skip to comments.Christie agency awarded $260m to politically connected New Jersey firm
Posted on 07/11/2014 2:50:00 PM PDT by PoloSec
New Jersey governor Chris Christies administration has awarded a public subsidy worth more than a quarter of a billion dollars to a politically connected manufacturing firm.
Holtec International, which makes components for power plants, this week secured a $260m tax break from the New Jersey Economic Development Authority (NJEDA) the third-biggest corporate subsidy that the state has awarded.
George Norcross, a powerful Democratic Party boss in southern New Jersey, who reportedly struck an important non-aggression pact with Christie, a Republican, during Christies re-election campaign, sits on the companys board of directors.
Holtec had been threatening to move 160 workers from New Jersey to South Carolina. As part of the subsidy deal, it must now keep the staff in the state and open a new plant, which is slated to employ 235 more people, in Camden, New Jerseys poorest city. It must commit to staying for 15 years.
The latest award follows a finding by the Guardian that Christies administration awarded a total of $1.25bn in subsidies in less than two years to firms that made significant donations to Republican election campaigns, or had senior executives who did. The NJEDAs chief executive, Michele Brown, is a close friend and former aide of Christies.
Norcross, a wealthy businessman and former co-owner of the Philadelphia Inquirer newspaper, is a former chairman of the Camden County Democratic Party and remains an influential party fundraiser who is frequently hailed as one of the most powerful people in New Jersey politics.
Although he is a Democrat, he maintains a good relationship with Christie. There has never been a governor of either party who has worked harder or more diligently to help south Jersey, the city of Camden and many of the things were so proud of in this region, and governor, we applaud you for
(Excerpt) Read more at theguardian.com ...
I can say for certain that it is ONLY politically connected firms that get contracts. It doesn’t matter which party, they all work the same way.
Didn’t do the math but that’s well over a half million per job. Christie’s just another fascist crook. No wonder the GOPe loves him.
Why give tax breaks? The politicians are always asking for more taxes so raise taxes some more and business will flock TO the state..... right?
Or am I being sarcastic... Yep I am. : )