“They say a decade ago in Maiden, trouble was brewing. ‘The town was losing jobs, the cost of services was expanding, the tax base was dwindling,’ recalls the then-just hired Todd Herms, who still manages the town today,” Ohnesorge reports. “Initially, [Apple’s] project was 50 direct jobs and 150 additional support jobs – a sum Scott Millar, president of the Catawba County Economic Development Commission, says they’ve ‘greatly exceeded.’ Today, Apple’s stealthy campus contains a half dozen buildings, powered by three different solar farms scattered across Catawba County.”
“Apple has become Catawba County’s top taxpayer, with an assessed value of $1.1 billion, nearly 42 percent higher than the No. 2 firm: Duke Energy Carolinas. Last year, Apple paid $6.2 million in county taxes,” Ohnesorge reports. “‘As a result of Apple’s being there that every citizen in Maiden has been impacted in a positive manner and they may not even realize that,’ Millar says.”
MacDailyNews Take: Yup.
The benefits of having a large corporation in your country or state go far, far beyond corporate taxes or even a total lack thereof. Those employees, who would not exist in your state otherwise, pay taxes – income, energy, property, etc., etc., etc. – and buy everything from food to furniture to vehicles in the local economy (each one of those purchases very likely taxed as well). Those who whine about corporate taxes [and/or tax incentives] cannot see the forest for the trees. — MacDailyNews, July 9, 2013
“Officials have actually lowered taxes. At the same time, investments in services have gone up,” Ohnesorge reports. “Local coffers, boosted by Apple tax bills, have funded park expansions, street paving projects and even a new fire station. The town has even started providing free public Wi-Fi. ‘Our budget basically doubled,’ says [town manager Todd Herms].”
Read more in the full article here.
MacDailyNews Take: Good luck, Raleigh-Durham!
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