In their crusade against “corporate welfare,” the refrain that “government shouldn’t pick winners and losers” commonly emanates from David and Charles Kochs’ political organizations. But this apparent opposition to government involvement disperses when the Kochs stand to gain.
Georgia-Pacific, a subsidiary of Koch Industries, has been exempted from local property taxes for their Consumer Operations Center in East Baton Rouge parish for the past five years. During that time, the exemption netted the Kochs $1.9 million in savings–a hefty chunk of “corporate welfare.”
The property tax breaks may have seemed like a reasonable trade-off given the Kochs’ promise to create jobs at the center. But instead of creating jobs, the Kochs laid off 74 workers. Not such a bargain for the taxpayers. Luckily for the taxpayers of Louisiana, Governor John Bel Edwards has signed an executive order tying allocation of Industrial Tax Exemption Program dollars to job creation, […]