- Apr 29, 2005
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If there is one bit of good news in this economic downturn, it's that state and local government is now standing up to big business and making them either hold true to their word and keep jobs in their local area as promised or return the millions in tax breaks that they were given to them to set up shop there in the first place.
Hopefully this will result in either taxpayers not funding corporate America or companies doing a better job of managing their expansion so that they don't get "too big to fail" without the ability to sustain another downturn.
Source
Hopefully this will result in either taxpayers not funding corporate America or companies doing a better job of managing their expansion so that they don't get "too big to fail" without the ability to sustain another downturn.
Source
COLUMBUS, Ohio (AP) ? Economic development officials in Ohio say they will check whether Wal-Mart Stores Inc. violated terms of a tax agreement by closing an optical lab near Columbus.
Ohio gave the world's largest retailer a $1.8 million job-creation tax credit in 2001 on the condition that the company create and maintain jobs there.
Wal-Mart on Friday announced that it will close the lab, cutting 650 jobs. The lab makes eyewear for vision centers in Wal-Mart stores.
Kelly Schlissberg, a spokeswoman for the Ohio Department of Development, says the agency is reviewing its agreement with Wal-Mart to determine if the state can recoup money.
A message seeking comment was left Saturday for a Wal-Mart spokesman.