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Originally Posted by waynet
Lets not forget this is a 2 way street. It is extortion when large corporations demand tax breaks and other sweetheart benefits to move into your town and then when the benefits are up they leave and start the same extotion process in another town. Then if their outrageous demands are not met again they blame the unions and off they go to another city or worse to another country. Check out what Pfizer did to New London,CT for all you anti-union pro business people,it's not pretty.
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Let’s look at what Pfizer did to New London. In 2001 Pfizer came to New London. New London wanted the high tech, high paying jobs Pfizer that Pfizer would create. In return, New London agreed to have Pfizer pay only 20% of normal property taxes for ten years.
Pfizer proceeded to build a $294 million facility and hired or brought in 1400 people with good paying jobs. Later Pfizer bought Wyeth, another drug manufacturer. Wyeth had facilities that could accommodate the Pfizer operation. Pfizer then consolidated its operations in nearby Groton, CT – 4.1 miles down the road. No one had to move, no one was fired and property tax payments to New London did not change. Pfizer remains New London’s largest taxpayer.
I guarantee you that the $294 million for construction that went into the plant was a boom for New London. I guarantee you that the jobs that did not leave continue to benefit both New London and Groton. Please show me what Pfizer, “…did to New London, CT that was not that pretty.”