“My administration’s work on jobs and economic growth has meant more than 50,000 new jobs for this state, with an investment of $10.4 billion. That work is finally paying off.”
These job numbers seemed odd to me, then I discovered that they can be found on the Governor’s home page. The job and investment numbers are taken directly from the announcements issued when closing deals using her corporate welfare money (primarily the One North Carolina Fund and JDIG).
But these announcements include only promised jobs and investment – not actual results. Often times these promises are not fulfulled.
And Perdue’s claim has nothing to do with North Carolina’s overall economy and jobs picture. Indeed, as the state Employment Security Commission data shows, North Carolina’s private sector has lost roughly 55,000 jobs since Perdue assumed office.
Perdue and other economic planners need to realize that their corporate welfare schemes don’t take place in a vacuum. Their decisions distort the market’s allocation of resources, and place many businesses (especially smaller ones) at a distinct disadvantage against those corporations receiving privileged treatment from the government. The result is a more politicized economy based on cronyism and the short-sighted whims of self-interested politicians. The net result is slower growth and job creation than otherwise would have occurred.
For Perdue to take the credit for “50,000 new jobs for this state,” while not taking the blame for the 55,000 net jobs lost during her tenure is intellectually dishonest.