From WSJ Online [Taranto]
"Illinois in 2011 is on pace to provide much more money in financial
incentive programs to businesses to retain and add jobs, with the total
through early May exceeding $230 million pledged to 27 companies," the
Chicago Tribune reports:
Gov. Pat Quinn is turning to the incentives, which include tax credits,
training funds and grants, as Illinois copes with a moribund economy and
battles other states to woo companies that have shown a willingness to move--or stay put, if the price is right.
No wonder: Whereas other states have been reducing spending, Quinn and
his fellow Democrats in the Legislature have dealt with their state's pending insolvency by raising taxes through the roof. But here's the part of the Trib report that raised our eyebrows:
The identities of 21 of the 27 companies receiving a total $53.1 million were not disclosed in a list provided to the Tribune on Tuesday by the state's Department of Commerce and Economic Opportunity.
The company names weren't released because of nondisclosure agreements
with the companies, because contracts have not been finalized or because
employees had not been told of plans at the companies in question,
department spokeswoman Marcelyn Love said in a statement. The state is signing nondisclosure agreements to shield the identity of companies that are getting relief from Illinois' punishingly high taxes? Doesn't that sound like a recipe for corruption?
Sent from my Verizon Wireless BlackBerry
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