Santulli pledges all tax incentives back to community.
I know everybody does it and I am sure each city was in a competition and upping the ante to land the deal, but is it really the role of government to buy jobs, especially under duress? Sure the loss of NJ to the city of CMH would be significant but companies negotiate for tax incentives as agressivley as they do for a roll of toilet paper. I think it is sad that the citizens of Columbus have to pony up the estimated 100 million in estimated benfits just to keep a company in it's locale. I can't blame NJ for working the system, but isn't the system broke? Sports teams play this game all the time. They threaten to go to a city that doesn't have a team and willing to pay for one unless the team gets a new stadium. That 100 million has to come from somewhere. What's the payback? How many years? How many people actually benefit? Warren Buffet runs around complaining that his taxes are too low yet he allows one of his companies to take tax incentives from the citizens of Columbus.
My shields are up. Fire away.
COLUMBUS, Ohio — NetJets Aviation on Wednesday announced plans to keep its headquarters in central Ohio and add more than 800 jobs during the next several years.
The announcement came after the private jet company explored the possibility of moving its base of operations to another city, 10TV's John Fortney reported.
It was reported that NetJets considered expanding in Orlando, Fla. and Releigh, N.C. and Fort Worth, Texas.
NetJets' CEO Richard Santulli said his company would invest about $220 million into upgrading its facility at Port Columbus International Airport. In addition, Santulli announced plans to create space for FlightSafety International -- the NetJets' sister company that specializes in pilot training.
"Our friend Bruce Whitman, the CEO of FlightSafety International, has also committed right to build the largest flight safety facility in the world," Santulli said.
Santulli promised 810 new jobs once the facilities were completed, Fortney reported.
In exchange, the City of Columbus and the State of Ohio put together a tax incentive package totaling about $67 million, Fortney reported.
Santulli said that each penny of the incentive would find its way back into the community.
"I'll say all of the money we receive from the state and the city; we will put back into the local community and the State of Ohio," Santulli said.
Ohio Gov. Ted Strickland and Columbus Mayor Michael Coleman also attended the news conference and were upbeat about the announcement.
"The future of aviation and the future of Ohio are inseparable," Strickland said.
"It’s the most significant economic development event in my time in politics in the City of Columbus for the past 15 years," Coleman said.
NetJets is considered the first company to offer businesses and individuals the opportunity to purchase portions of business jets.
Watch 10TV News and refresh 10TV.com for additional information.
imp:
You know they'd trade management in a heartbeat!
