"Louisiana's Mega-Project Development Fund, which helped land three major economic development projects in northeastern Louisiana this year that will ultimately create at least 3,000 new jobs, could dry up unless the Legislature replenishes it." (See: "State megafund nearly dry; Area tapped money to land 3 big projects")."The fund, which was created by former Gov. Kathleen Blanco and bumped up to more than $400 million under Gov. Bobby Jindal's administration, was designed to provide large cash incentives for companies to choose Louisiana for major expansions and job creation." id. The head of economic development for Louisiana, Stephen Moret, said only $55 million unencumbered money remains in the megafund. id. That's over $345 million paid out under Gov. Jindal.
"Northeastern Louisiana projects tapped the fund for more than one-third of its balance, with $50 million going to Foster Farms' chicken processing facility in Farmerville, $67 million to V-Vehicle Co. in Ouachita Parish and up to $37.4 million to ConAgra Lamb Weston's sweet potato processing plant in Richland Parish." id. That comes out to $151,400,000 million for Northeast Louisiana businesses, at 3,000 jobs, equals $50,466.66 per job., in the state's way of looking at things.
"There's no question that having those dollars in place creates a greater level of confidence and certainty for companies we're recruiting," Moret said." id. "Moret said the administration is contemplating ways to replenish the fund in the face of budget cuts." id.
But those are all out of state business corporations, unlike the home grown Louisiana business of Bruce Foods which got a $1 million loan from the state. (See: "Is Moret clairvoyant?").
Louisiana is constantly cutting service, workers, health care and higher eductation because of our budget short falls. But in typical Louisiana Republican fashion, while we citizens are getting less, Jindal is giving more and more to out of state big business concerns. Gov. Jindal going around and giving out big cardboad checks he claims as his own, but are actually the federal stimulus checks he gripes about, and gives away Louisiana citizizen's money to bribe them with new jobs, which both are really people's tax dollars, all in an effort to make himself look good. And let's not forget aboout 'dem Saints', that Jindal loves to watch on our money.
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