Richland County Loses Warehouse Retailer
Warehouse retailer Cotsco will not open a facility in Richland County, S.C. Why not? Local officials apparently didn’t offer enough in the way of taxpayer-funded incentives.
As a result the company says it will take its 225 jobs elsewhere …
“They felt like they weren’t wanted,” one of the company’s local developers told The (Columbia, S.C.) State newspaper.
Of course the State article which discusses these hurt feelings appears to be a shakedown for more taxpayer cash as the developer also told the paper Costco would “reconsider” coming to Richland County if local officials upped the ante.
Gotta love government-run”economic development” right?
Guess Costco’s peeps should have called the Boeing lobbyists …
We’ve said it before and we’ll say it again: Companies looking to locate in South Carolina should not be bribed to come here. Our state should work on developing a competitive tax climate for all companies – a process that starts with the elimination of the individual income tax.
Government-subsidized incentives only wind up shifting – and raising – the tax burden on individuals and existing small businesses. Not only that the lack of disclosure associated with such handouts is a recipe for corruption.
Oh … and as has been repeatedly demonstrated in this case, there’s no guarantee incentives will ever translate into the jobs promised on the front end of these projects.