The N&O today lauded the announcement by Infosys that the Indian tech company is planning to open up a new technology hub in Wake County. Helping to seal the deal was a taxpayer handout of up to $22.4 million dollars, which of course the central planners at the N&O found to be worth celebrating.
That Infosys chose Wake County for a new technology hub isn’t a simple stroke of luck. It’s the result of North Carolina following its economic development playbook to perfection. And it should show that cooperation within the state will bring far more benefits than the divisive tactics and tax slashing favored by the Republican-led General Assembly.
Yes, that “cooperation” involved politicians agreeing to take more money from hard working North Carolinians and businesses and give it to a multi-national corporation. Somehow the use of force to take from some and give to others the N&O deems the opposite of “divisive”. Unreal.
Following the requisite mention of HB2, they assure the readers that this announcement somehow proves that “the legislature’s fixation on tax cuts plays a small role in corporate decisions,” and that the Infosys CEO “did not mention the corporate income tax the legislature has cut to the lowest in the nation” as playing a role in their decision.
If tax burdens are so inconsequential, then why the need to give Infosys the incentive deal?
Big government in bed with big business at the expense of the taxpayer, that’s what this deal is about. And the N&O applauds.