Friday, August 24, 2012

Blowing In The Wind

More tax dollars blown away...

The struggling, foreign-owned wind power company that laid off two-thirds of its Arkansas workforce earlier this month after receiving more than $30 million in aid from the federal government also received $15 million from the state of Arkansas and was heavily promoted by the state’s Democratic governor.
Sources of energy that cannot survive without government subsidies and stimulus are nothing but a waste.
According to the Arkansas Democrat-Gazette, the firm received $6.9 million from Arkansas Democratic Gov. Mike Beebe’s Quick Action Closing Fund, and $8 million from the state’s Economic Infrastructure Fund. It also received a 25-year corporate income tax exemption, sales-tax refunds on building materials and equipment, and a 5 percent rebate on new payroll for 10 years.
“Today we celebrate the result of this successful partnership,” Beebe announced in 2008 when LM Wind Power opened its doors.
Beebe has been an ardent supporter of subsidizing wind energy.
“Anyone standing in the way of this industry, frankly, they’re un-American,” Beebe said at a June wind power conference in Atlanta. LM Wind Power’s global headquarters is located in Denmark.
Call me un-American I guess... I still think $40 million plus in aid is a chunk of money wasted.

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