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By PBN Staff
It will hold down Toray's electric costs...not so clear how it holds down electric costs for regular folks in the state. RI is now in position of having to pay strong companies to stay in the state. Unfortunate, but those are the new rules. So how much will other big companies ask for? I can think of several companies who could ask for the same $1M.
this is "lets make a deal"economic development-put electric policy in place that attracts all types of ecomonic development--such as lowering the back-up charges for big companies--who gets the taxpayer and ratepayer money next-CVS? Amgen?
I don't believe large RI companies should get grants paid by taxpayer dollars, unless those grants are actually loans of some type which must be repaid in terms of a set number of guaranteed near-term jobs. If they fail to hire many additional RIers at good salaries by a set date, then the company should be expected to return the $1M.