Miss. Gov. Haley Barbour pissed away $200 million of state money on a cancelled Toyota plant

[NNN0LHI]

http://www.google.com/hostednews/ap/article/ALeqM5hfsR7rqXhTUR3qWJxiuIpPp-rP4wD953DH680

Toyota delays Mississippi assembly plant
18 hours ago

NEW YORK (AP) — Toyota Motor Corp. is shelving its plans to build the popular Prius hybrid in Mississippi as the slump in the auto industry continues to hobble the Japanese carmaker known for it emphasis on fuel-sipping vehicles.

Toyota's plant under construction in Blue Springs, Miss., was scheduled to begin production in 2010, marking the first time the gas-electric Prius, which has been on sale for more than a decade, would be built outside of Japan and China.

But Mike Goss, a spokesman for Toyota's U.S. arm, said Monday that despite investing $300 million in the plant so far, the automaker is delaying production there indefinitely because of the industrywide downturn.

Construction of the plant is about 90 percent complete, and Toyota will finish the building, Goss said. However, the installation of the factory's equipment and machinery — "the most time-consuming" element of construction, he said — is delayed indefinitely.

Mississippi Gov. Haley Barbour said at a news conference that the state has invested $200 million in the plant, while local governments have invested about $35 million. He said Toyota plans to work with state and local governments to mitigate extra costs caused by the delay.

"While we definitely are disappointed (and) wish it wasn't happening, we understand that these companies like Toyota have to operate in the private marketplace and have to do so successfully," Barbour said.



Haley thought baby Jesus had brought him a Toyota plant:

http://www.usatoday.com/money/autos/2007-02-27-toyota-plant_x.htm

<snip>Mississippi Gov. Haley Barbour praised Toyota as the answer to prayers of officials worried about shrinking employment in the state's furniture industry. Barbour said he was grateful to get the plant for less than the amount that Mississippi spent on incentives to lure Nissan Motor's truck plant to Canton in 2003. Toyota would get $296 million in incentives if the Legislature approves; Nissan got $363 million, according to the Mississippi Development Authority.

Sen. Trent Lott, R-Miss., thanked Toyota at the news conference for the economic boost the plant will provide. "When you're our constituent, we are warriors on your behalf, and I can assure you we will look after your interests," he said.

[Kalyke]

1. But... but... according to some all-knowing members of DU,

the demand for Prius's is so high that everyone has to wait months to get one.

Not.

:eyes:

[Name removed]

2. Deleted sub-thread

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[mrreowwr_kittty]

3. SO GET THE FUCKING MONEY BACK ASSHOLE!!

Gah! Words cannot describe how pissed off this shit makes me. State politicians ladle out all kinds of taxpayer funded goodies to these private companies and NEVER get what is promised for it (jobs, revenue). But they NEVER attach any kind of conditions on these lavish tax subsidies. The companies take the money and run. Duh. :banghead:

[merh]

7. LOL - this happened after Katrina - Oreck left the Coast when

their tax exemption status was about to run out. Here is Lott's observation about the "pull out" and how elected leaders should be more cautious.

Second, and more troubling, in 1997 Oreck signed a 10-year tax exemption to locate in Long Beach. That exemption will expire at about the same time Oreck completely closes the Long Beach plant. A lot of Mississippians will have very legitimate questions about this timing, and I think the company should have made a genuine effort to address it.

As your Senator, I talk to many CEOs with the ultimate goal of getting them to bring jobs to our state. Sometimes we must put up tax incentives for companies to locate in Mississippi because competing states are doing the same.

But Mississippi’s taxpayers and our city, county, state and federal officials should tuck away the Oreck example for future reference. Yes, we’ll still have to fight for jobs, sometimes using a tool kit that includes tax incentives. Still, like a banker scrutinizing a loan applicant, we must assess these companies’ financial health, demeanor and commitment to our state very carefully. I’m not saying anyone could have foreseen the Oreck situation. Nor am I saying this company makes bad products. I am saying Oreck could have handled this situation better and shown Mississippians at least as much commitment and loyalty as we’ve shown them.

http://www.jacksonfreepress.com/index.php/site/comments/lott_the_oreck_challenge/

:rofl: Repubs are notorious for giving away to the corps and claiming it is for the good of the taxpayers.

[mrreowwr_kittty]

9. My state, Arizona, gave a huge tax break to Intel

Who already had several sites in the state. They threatened to pull out of a factory expansion that would supposedly create 1000 new manufacturing jobs unless they got what amounted to a 95% abatement of their Arizona sales tax. It cost the state $100 million. It was such a farce because the company was slated to do the expansion whether they got the tax break or not. Repuke legislators fell all over themselves to take credit for bringing all those jobs to the state. The 1000 new hires never happened because Intel went through a rough earnings cycle and actually did some layoffs. After they hired a few hundred people for the expansion they shifted to internal hires only to staff it. It ended up creating maybe 200 or so new jobs, if that.

[ogneopasno]

4. Maybe if Mississippi had spent that money on public services instead of a corporation,

other states wouldn't have to keep subsidizing it. Just a thought.

[Name removed]

5. Deleted message

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[bobd0]

6. Sow to the wind and you will reap a whirlwind. :)

The first step in losing all those nice foreign auto plants.

Did those southern senators who used U.S. taxpayer money to subsidize foreign auto makers think their masters wouldn't be affected by the economic crisis their party created?

I wonder if those southern Republicans are in favor of an auto industry bailout now.

I'll see "you all" on the soup line! :)

[Name removed]

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[Shiver]

10. I read the title of this thread as "passed away"... n/t