Gov. Perry Announces $1.125 Million TEF for Expansion of Frito-Lay North America’s Plano Operations (crime, how much)

[Wonderful Jellal]

Gov. Rick Perry announced the state is investing $1.125 million through the Texas Enterprise Fund (TEF) in Frito-Lay North America (FLNA) for the company-wide implementation of SAP business management software and other IT system upgrades. This investment will create 125 jobs in North Texas and generate more than $50 million in business infrastructure.
“The Texas Enterprise Fund helps strengthen and expand Texas’ economy by attracting jobs and investment to our state,” Gov. Perry said. “This investment in Frito-Lay will strengthen the economy in North Texas by creating 125 jobs and bringing millions of dollars worth of business infrastructure to the area.”

TexasWideOpenForBusiness.com Texas Economic Development: Gov. Perry Announces $1.125 Million TEF for Expansion of Frito-Lay North America

[bluescreen73]

I have a SERIOUS problem with this. You're telling me that Frito-Lay, with 2009 revenue of $13 BILLION couldn't have done the upgrade without taking $1.125 million in taxpayer revenue? BS.

[Wonderful Jellal]

Originally Posted by bluescreen73

I have a SERIOUS problem with this. You're telling me that Frito-Lay, with 2009 revenue of $13 BILLION couldn't have done the upgrade without taking $1.125 million in taxpayer revenue? BS.

I don't see the problem...Texas invested $1 million to obtain $50 million in investments !
It's a good deal, and this deal creates directly 125 jobs.

[bluescreen73]

Originally Posted by RenaudFR

I don't see the problem...Texas invested $1 million to obtain $50 million in investments !
It's a good deal, and this deal creates directly 125 jobs.

Ok then we want our share of the $50 million, deposited directly in our pockets, seeing as our tax revenue was given, without our permission, as a corporate-welfare handout. What? We'll never see that money?

I don't care how much revenue it generates. PepsiCo cleared $6 BILLION in INCOME last year. They can pay their own damn way.

[TT Dave]

To me, this sounds like a calculated political move. By doing this kind of stuff Perry can say he created "x" number of jobs come election time this November.

[bluescreen73]

Originally Posted by TT Dave

To me, this sounds like a calculated political move. By doing this kind of stuff Perry can say he created "x" number of jobs come election time this November.

Yep and within a couple years of his re-election, those jobs (most of which are likely contractor positions) will be GONE.

[orbius]

Socialism for the corporate class. Now every single corporation that expands into Texas has its hand out for my tax dollars. Robbing paul to give to peter indeed. This isnt something like a park, a road, a zoo that potentially benefits everyone in a location.

This is throwing free money at a very specific company in the nebulous promise that somehow the benefit of these jobs will trickle down to everyone else.
Which is a lie.

Texas has some of the worst poverty in the country, most uninsured children, some of the lowest educational standards, there is no money available to build roads.

Yet Perry has plenty of our cash to gift to corporations. Disgusting.

[Wonderful Jellal]

Texas has some of the worst poverty in the country, most uninsured children, --------> in 2 words : illegal immigration

[orbius]

Originally Posted by RenaudFR

Texas has some of the worst poverty in the country, most uninsured children, --------> in 2 words : illegal immigration

Other states have illegal immigration problems but are ranked higher in educational standards and other metrics. Not saying that illegal immigration and resulting drug trade and crime and social problems it brings isnt a huge problem that needs to be dealt with intelligently.

[theunbrainwashed]

Originally Posted by bluescreen73

I have a SERIOUS problem with this. You're telling me that Frito-Lay, with 2009 revenue of $13 BILLION couldn't have done the upgrade without taking $1.125 million in taxpayer revenue? BS.

They could have easily just as relocated to Mexico. Perry did that to convince them to move to Texas as they have 49 other alternatives + Mexico