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    Who are the NERD fund donors Mr Snyder?

    Raise the curtain.

    Left-To-Work .. in Indiana

    By Corinthian Scales, Section News
    Posted on Sat Jun 23, 2012 at 11:42:20 AM EST
    Tags: Rick Snyder, Anti-Right To Work, Will VETO R-T-W, DRIC-NITC, ChiCom, Public-Private Partnerships, Light Rail boondoggles, Massive Federal debt is not a factor, Obamacare Health Exchange, Foreign National Job Preference, H-1B Visas, EB-5 Citizenship, Wholesale Gas Tax, Registration Fees, Stem Cell Research, Government Funding, Cowardly with Detroits Financial Disaster, Progressives, a 'Placemaking' Czar ?, I marked my 2010 ballot and all I got was Bigger Government and No R-T-W (all tags)

    Part III in the series, via Inside Indiana Business

    PORTAGE, Ind. - Governor Mitch Daniels joined executives from Fronius USA, LLC, the fourth-largest solar inverter producer in the world, today to announce that the company will relocate its North American headquarters here from Michigan, creating up to 512 new jobs by 2016.

    The Austrian company will invest more than $26.64 million to lease and equip 400,000 square-feet of space in Portage to assemble and manufacture its products for the North American market. Through this new facility, Fronius plans to develop its current manufacturing capacities to meet the global demand for solar electronic inverters and welding technology.

    "We're excited to bring new jobs anywhere in Indiana, but we're particularly excited Fronius has chosen northwest Indiana," said Daniels. "Fronius is well-established, fast-growing and at the top of their field, exactly the kind of company we've rebuilt the Indiana business climate to attract."

    Fronius' relocation marks the 1,000th new business establishment or expansion the Indiana Economic Development Corporation, the state's lead economic development agency, has completed since its inception in 2005.

    Established in Brighton, Mich. in 2002, the family-owned, international company has been engaged in solar electronics since 1992, in particular the development and production of photovoltaic inverters for both grid-connected and independent power supplies.

    "Indiana has a great business climate with a perfect infrastructure for us, including a good network of suppliers and skilled employees," said Wolfgang Niedrist, managing director for U.S. sales at Fronius. "We can't wait to get to know the people of Indiana even better as we move into the community."

    Fronius' establishment in Indiana comes on the heels of two recent announcements from companies also relocating to Indiana from Michigan. Earlier this month, Spartan Motors, Inc. announced its plans to relocate  parts of its operations to Wakarusa from Michigan, creating up to 60 jobs by the second half of 2012. In May, Molded Foam, LLC announced its acquisition of a Michigan firm and intentions to relocate operations to Indiana, creating up to 45 jobs in Elkhart County by 2014.

    Rest here

    So it goes... Michigan continues to hemorrhage its Private Sector Job Creators flowing into Right-To-Work Indiana.  That really should make one question the motive behind Gov Snydholm going "all in" with bypassing the Legislature on his relentless Non-Agreement Agreement campaign for his quasi-government DRIC agenda.  

    Have fun in China this fall, Central Planning Nerd.

    < Even the Europeans are finally catching onto what a flim-flam artist he really is. | To Toss Murdered Babies in Trash Cans, or Not: That Is The Question >

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    From my hometown to Indiana (none / 0) (#1)
    by Republican Michigander on Sat Jun 23, 2012 at 10:07:27 PM EST
    Thanks guys. /sarcasm

    Some items that you seem to have omitted (none / 0) (#2)
    by googler on Sun Jun 24, 2012 at 02:59:31 AM EST
    You seem to have omitted some pertinent information from the article you linked to:
    The Indiana Economic Development Corporation offered Fronius USA, LLC up to $4.25 million in performance-based tax credits based on the company's job creation plans. The city of Portage will consider additional property tax abatement at the request of the Portage Redevelopment Commission and the Portage Economic Development Corporation.

    Also, from the local media:
    Niedrist said the Austrian-based, family-owned company chose Indiana for its strong educational system, solid network of suppliers and access to logistical services.

    And furthermore:
    Herndler said the company also is union-friendly.

    "We have unions in Austria, and we have a good relationship with all of them. We are not afraid to be a union company," Herndler said.

    Finally, this is a year old and they didn't close the Brighton site. So I must say, I find your editorial decisions to be quite interesting.

    Some items our new friend googler has omitted (none / 0) (#3)
    by Corinthian Scales on Sun Jun 24, 2012 at 09:16:58 AM EST
    googler, you have omitted some pertinent information from your comment:

    Six months ago, I said that you would see this exact fact pattern, Conley said today. I said it would occur where companies are adding substantial payroll and they have the flexibility to move their operations.

    The lure of tax credits from other jurisdictions will be just too substantial for many companies to resist, especially when coupled with lower wages and a less unionized workforce in many other states, he said.

    Also, cached from Paul Egan, Detroit News Lansing Bureau:

    Finney said the MEDC offered Fronius a $12.8 million package that included about $7 million in MEGA credits, plus local government incentives. The MEDC is seeking clarification from Fronius because it was originally told Fronius chose Indiana because it offered a bigger incentive package, Finney said.

    Snyder is moving Michigan away from the use of tax credits to attract out-of-state companies. He says a better growth model is economic gardening, under which lower taxes, streamlined regulations and a generally improved business climate encourage new companies to form and existing companies to stay and expand. A centerpiece of Snyders plan was the elimination of the Michigan Business Tax in his recently approved budget. The tax, which applied to nearly all Michigan corporations, was replaced with a 6 percent profits tax which is applied to only a minority of corporations that issue public or private stock.

    Industry tax credits in Michigan, not counting film industry credits, have totaled about $200 million a year in recent years.

    Finney said $100 million will be available for the fiscal year that starts Oct. 1 and the state has great flexibility, including use of loans and grants, in how it doles out the money to carefully selected firms.

    Its not true Michigan will no longer offer incentives, Finney said. Instead, were out of the tax credits game.

    And furthermore:

    Fronius is registered in Michigan as Fronius USA LLC, meaning that like most other businesses in Michigan it would not be subject to the new corporate profits tax or any Michigan business tax, starting next year.

    Indianas corporate tax rate of 8.5 percent is slated to drop to 6.5 percent by 2015.

    The fact is that Rick Snydholm, who founded the MEDC, along with his appointed crony Finney from Ann Arbor SPARK, offered up 201% more just to stay Headquartered in Brighton, than what then Indiana offered in performance based tax credits to Fronius LLC, of which, is relocating to a higher tax rate state, of which, Indiana as of February 1, 2012, is now a totally Free To Work State that does indeed affect a Headquarter business decision for seeking its surrounding supplier base.

    And really, if the intent is to argue that Michigan Goonionized Publik Edjuwkayshun needs to be inline with Indiana's $9,569 per pupil figure: I'M ALL FOR IT!

    Finally, googler, you fail again to grasp the understanding in the business world what "the handwriting is on the wall" truly means.  So I must say, I find your rather poorly researched comment choice to be interestingly amusing.

    This is a fitting example of exactly how far out of touch Rick Snydholm is in business as an Exec who knows mainly from peddling his crappy computers in cow patterned boxes with how to interact with Communist China, leveraging tax dollars through his love for grants for campus contracts playing with dead babies, and how very little about even treading water with competing border states.

    Something more current suits your liking better? Okie dokie, as time permits that is not a problem...

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