By Robert Mann
Louisiana extends $1bn in incentives for Sasol investments
The story began: “South African energy and chemicals group has secured investment incentives collectively valued at around $1-billion from the state of Louisiana, in the US, to support its proposed development of an ethane cracker and a gas to liquids (GTL) facility in the Lake Charles area.”
Louisiana is coming up with $1 billion in incentives to attract one company.
I guess when Gov. Bobby Jindal says that Louisiana is business friendly, he means, “We’ll give you a billion dollars if you open your business here.”
How is this not a scandal?
And how is it that we can find hundreds of millions to attract businesses to Louisiana, but not a fraction of that for our colleges and universities?
Note: On Monday, LED Secretary Stephen Moret sent me the following message by email:
- Tax hike? More cuts? Refilling rainy day fund clouds state budget prospects (thelensnola.org)
- Louisiana’s economy isn’t as robust as Jindal’s spin (bobmannblog.com)
- Jindal’s Economy: Grim and Grimmer (bobmannblog.com)
- Lawmakers support $257M deal for Sasol fuel plant (charlotteobserver.com)
- Jindal drains economic development fund to subsidize projects (louisianaweekly.com)
- Sharp decline in state tax revenue during Jindal years bucks national trend (thelensnola.org)