GMAC just announced it will be closing two offices in Charlotte, eliminating 115 jobs less than a year after their opening. Of course, the majority government-owned GMAC received government subsidies in exchange for their promise to “create” 200 jobs in Charlotte (ah yes, the joys of our “free market”).
Gov. Perdue naturally attempted to gain positive exposure for herself during the exciting “new jobs!” pep rally last year:
Gov. Bev Perdue even came to Charlotte to cheer the company on for bringing jobs that pay nearly $100,000 per year.
No word yet on whether the Gov. will travel to Charlotte to cheer on those 115 folks as they get in line at the unemployment office.
Influencing GMAC’s decision to expand in Charlotte was $4.5 million in bribes incentives from the state and local governments. GMAC posted $5 billion in losses in 2009 fourth quarter alone, so state lawmakers really picked a winner to shower with special breaks – all in the name of “economic development,” of course.
GMAC’s deal, however, pales in comparison with North Carolina’s top ten largest incentive deals.