Ga. governor signs off on Hyundai’s fleecing of his state’s taxpayers

Now that incumbent Georgia Gov. Brian Kemp overwhelmingly won his primary over Sonny Perdue — thus helping to prove that Trump is not all-powerful — we can go back to loathing Kemp.

He’s still a Trump toadie, despite having political courage and principles just that one time when he stood up to Stop The Steal nuts. (It doesn’t take all that much courage to look at someone and say, “This is not what the law says.” The only reason it needs to be celebrated at all is because it stands out so much from normal everyday GOP corruption and narcissism. It’s not that Kemp is that principled, it’s that people surrounding him in his party are so devoid of scruples.)

To that end, it’s important that everyone point out that Kemp’s deal to build a Hyundai assembly plant in Ga. is a massive give-away to Hyundai that will create jobs at a shocking cost of $228,000 per job. And it will rob state public works programs to pay for making Hyundai richer.

For that kind of a shitty deal, you have to wonder who’s getting paid off where.

The folks at ITPI are on the case:

Take Georgia’s new big, shiny $1.8 billion factory deal with South Korean automaker Hyundai. The state’s republican governor Brian Kemp is making it sound like a win-win for all involved.

“We are proud to welcome Hyundai Motor Group to Georgia as we forge an innovative future together,” Kemp said in a press release. “We will continue working to make Georgia the premier destination for quality companies who are creating the jobs of today, tomorrow, and beyond.”

But when you actually look at the terms of the deal—which is the largest subsidy package for an automotive plant ever in the U.S.—your head can’t help but hurt. There’s a reason Georgia officials wouldn’t reveal what incentives Hyundai had been promised until after the agreement was signed.

Here they are:

  • Local governments are giving Hyundai more than $472 million in property tax breaks.
  • The company will also receive more than $212 million in state corporate income tax credits. (Get this: If Hyundai doesn’t end up owing that much in state income tax, Georgia will instead give the company personal income taxes collected from the company’s workers.)
  • The state and local governments spent $86 million to purchase the plant site
  • Georgia will spend $200 million on road construction and improvements, plus $50 million more to help fund construction, machinery, and equipment.
  • Sales tax exemptions on construction materials and machinery expenses are estimated to cost $396 million.

All in all, Georgia and four counties will be giving Hyundai about $228,000 per job created.

You can read the rest of the article at this link.

Ga. Governor Brian Kemp signs-off on a plan to let Hyundai raid his state’s treasury .

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