Connecticut Democrats think taxpayers should pay $443 million dollars to create 600 jobs. Are they for real? You bet they are! That is $738,333 for each job.
Jackson Laboratories is slated to get 17 acres of prime real estate and a free new building. The Connecticut taxpayers will be their largest shareholder in this new venture.
Private investors consider investments like this all the time but they get a return on their investment. In the medical research field a private investor would get a share of royalties earned and equity in the company.
Connecticut Innovations (C-I), the quasi-government, taxpayer-funded incubator charged with coordinating this government giveaway is changing their business model for this boondoggle. Current investments by C-I require equity and royalties in return for their investments. Not this time!
Connecticut Democrats are authorizing a major investment of taxpayer's money with no similar return on this investment! The new taxpayer-funded building and operations will be tax-exempt!
This proposal lacks common due-diligence for similar private sector transactions.
The Connecticut Democrats' Train Wreck is in the ditch again.
Wednesday, October 26, 2011
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