Posted at September 29, 2008 at 5:08 pm
Excerpt:
In May I wrote about Wells’ Dairy failing to create the jobs they promised when they received taxpayer money under the Iowa Values Fund.
On Friday, Wells Dairy agreed to repay the money…
Wells’ Dairy Inc., the maker of Blue Bunny ice cream, has repaid the state $1.25 million of $2.9 million in forgivable loans it received to build a new headquarters in Le Mars.
The state has found Wells’ Dairy did not meet its job creation commitments.
The company, which had been mulling a move to Nebraska or South Dakota, had agreed to create 128 jobs and retain 346 existing jobs for a total of 475 positions overall. It had also committed to complete a new $25 million corporate headquarters.
The state’s review found that Wells’ Dairy fell 158 positions short of its employment projection.
Read more at Century of the Common Iowan.
Related Posts:
Wells Dairy Takes Your Money and RunsValues Fund is a DudValue of the Iowa Values FundLennox to Cut 250 Jobs in MarshalltownIowa Power Fund Passes Out of CommitteeGov. Culver promotes his favorite industry.Do Culver and Judge Want it Both Ways When it Comes to Climate Change?
Categories: Dems, Century of the Common Iowan, Values Fund, Corporate Welfare | Comments Off
Posted at June 24, 2008 at 2:06 pm
Excerpt:
Earlier this month I wrote about Lennox planning to cut 250 jobs in Marshalltown even though the company has received millions of taxpayer money from the Iowa Values Fund.
Iowa Independent took a closer look at the Iowa Values Fund, asking Is There Value in the Iowa Values Fund?
Gordon said IDED can point to a few scattered success stories, but in the end the true impact of the Values Fund is murky at best.
“It diverts money from improving the things that truly matter to companies, and that hurts Iowa in the long haul,” he said. “These incentives are a short-term, politically easy fix to a much bigger problem. If you ask a business, and they answer honestly, they will say these incentives make very little difference to their final decision of where to locate.”
Read more at Century of the Common Iowan.
Related Posts:
Values Fund is a DudLennox to Cut 250 Jobs in MarshalltownWells Dairy Repays Values Fund Money after Failing to Create JobsHillary Asks Iowans to Return to “Values that served her husband well”Lakoff on Avoiding the Centrist TrapReport from the Johnson County Democrats BBQBut everyone else is doing it!
Categories: Dems, Century of the Common Iowan, Values Fund | Comments Off
Posted at June 16, 2008 at 12:50 pm
Excerpt:
On Saturday the Marshalltown Time Republican reported that Lennox Manufacturing plans to cut 250 jobs in Marshalltown. 150 employees will be laid off in August and 100 more will be layed off later in the year.
In 2004, Lennox agreed to a 4 year deal from the Iowa Values Fund to keep jobs in Marshalltown.
Turning to state government, the Iowa Department of Economic Development’s (IDED) Iowa Values Fund Board is trying to save the jobs of 1,100 workers at the Lennox International plant in Marshalltown by providing $6.6 million in assistance to the company.
Of the money, $1.6 million will be used to train Lennox workers in advanced manufacturing to make the company’s operations more competitive for further investment.
The remaining funding, $5 million, is a forgivable loan to help pay for an $18.5 million upgrade to the facility, which includes new machinery and equipment, during the next four years.
The state ended up giving Lennox $6.6 million over 4 years and now at the end of agreement, Lennox is cutting almost a quarter of the workforce in Marshalltown. This is exactly why the Iowa Values Fund is a terrible program. At the end of the agreement, the state has nothing to show from its $6.6 million investment.
Read more at Century of the Common Iowan.
Related Posts:
Value of the Iowa Values FundHeaded to see Barack ObamaDes Moines Register: Marshalltown Coal Plant is Not the Right Course for IowaAre Coal Power Plants a Good Idea?Do Culver and Judge Want it Both Ways When it Comes to Climate Change?Summit on Immigration Today in MarshalltownValues Fund is a Dud
Categories: Dems, Century of the Common Iowan, Values Fund | Comments Off
Posted at February 28, 2007 at 7:17 pm
Categories: Dems, Century of the Common Iowan, Values Fund | Comments Off
Posted at May 13, 2006 at 9:24 pm
Excerpt:
Ed Fallon is the guest on Iowa Press this weekend. I saw the show on Friday and it will be replayed on Sunday morning at 11:30 and you can catch it on their website later on.Fallon was asked by David Yepsen and Mike Glover about the Iowa Values Fund a…
Read more at Century of the Common Iowan.
Related Posts:
No related posts
Categories: Dems, Century of the Common Iowan, Fallon, Campaign Finance, Values Fund | Comments Off
