Gunmaker Gets $39M In Taxpayer Funds For Creating Just 300 Small-Town Jobs
A Brazil-based gunmaker has agreed to move production from the Miami area to a small town in Georgia, just north of the Florida border, after “two decades of wooing, millions in tax credits and the gift of a free factory,” according to Bloomberg News.
The company, Taurus Holdings Inc., expects to bring 300 jobs to Bainbridge, Georgia, which has a population of about 12,000. In return, gunmaker will get a “government-incentive package that’s worth more than the $30 million the company said in 2017 it was willing to spend to settle claims that it manufactured defective firearms.”
In total, the taxpayer-funded package is at least $39 million, the news outlet reported, with local governments kicking in “20 million for construction, $7.9 million of tax credits, $4.5 million of infrastructure work, $4.3 million in property-tax abatements and $3 million for equipment.”
The company will also lease 73 acres of land, with room to expand, for $1 a year, and after 20 years, Taurus will become the owner.
The Bainbridge city manager said Taurus will spend $22 million in the community, and it remains possible that the company’s relocation to the town could draw related manufacturers as well.
Rick McCaskill, head of the Development Authority of Bainbridge and Decatur County, said a major part of his pitch to Taurus was that Georgia “is a very gun-friendly state.”
Of the subsidies, McCaskill said, “Right now we’re heavy on the give-it-away side of the pendulum,” adding, “If you’re going to get a project these days, you really have to put a lot into it.”
Kasia Tarczynska, a researcher at Good Jobs First, which Bloomberg noted maintains a database of subsidy deals, said that while such deals are commonplace, the price per job created is high in the Bainbridge deal.
Tarczynska told the news outlet that $50,000 per job would be a fair deal, but the Taurus deal exceeds $130,000 per job.