http://bearingdrift.com/2010/02/21/vpod-90-del-chris-jones-on-the-budget/ Mon, 13 Feb 2012 07:57:13 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://bearingdrift.com/2010/02/21/vpod-90-del-chris-jones-on-the-budget/#comment-30731 Bill Morish Tue, 16 Mar 2010 14:11:55 +0000 http://bearingdrift.com/?p=11594#comment-30731 Cool of you to take the time sharing this with us, I for one appriciate it Cool of you to take the time sharing this with us, I for one appriciate it

]]> http://bearingdrift.com/2010/02/21/vpod-90-del-chris-jones-on-the-budget/#comment-29070 Mike Barrett Mon, 22 Feb 2010 15:17:10 +0000 http://bearingdrift.com/?p=11594#comment-29070 Of course, by the Governor and the House saying what they have said reveals a total lack of understanding of what economic development is really about. Great companies come to an area because of the area's superior education, transportation, and cultural institutions; these companies do not need to be paid nor incentivized to come to Hampton Roads instead of somewhere else. In fact, studies of the programs in states with poor institutions, where they need to pay hundreds of millions of dollars to attract corporations, reveal that these incentive programs rarely have a positive fiscal impact. So the fact is, when Norfolk Southern moved its headquarters to Norfolk, and cited cultural institutions as a strong component of their decision, they are just stating the obvious, and this and other examples show why the failure of our Governor and House to understand the importance of limited yet effective government is such a travesty and will have such profound long term effects on our ability to attract the companies we need. Of course, by the Governor and the House saying what they have said reveals a total lack of understanding of what economic development is really about. Great companies come to an area because of the area’s superior education, transportation, and cultural institutions; these companies do not need to be paid nor incentivized to come to Hampton Roads instead of somewhere else. In fact, studies of the programs in states with poor institutions, where they need to pay hundreds of millions of dollars to attract corporations, reveal that these incentive programs rarely have a positive fiscal impact. So the fact is, when Norfolk Southern moved its headquarters to Norfolk, and cited cultural institutions as a strong component of their decision, they are just stating the obvious, and this and other examples show why the failure of our Governor and House to understand the importance of limited yet effective government is such a travesty and will have such profound long term effects on our ability to attract the companies we need.

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