More Stupidity from VCEDA in 2005
(Note the press releases below where every company listed was out of business in about a year.)Report Document No. 78 year 2005
Document Title: Annual Report of the Virginia Coalfield Economic Development Authority
Author: Virginia Coalfield Economic Development Authority
Enabling Authority § 15.2-6003 Executive Summary
Dear Governor Warner,
We are pleased to submit to you and the General Assembly the 2004 Annual Report of the Virginia Coalfield Economic Development Authority. Highlighting the year was your personal commitment to and participation in announcements and events illustrated in this report.Sincerely Donald Baker, Chairman
VCEDA approved three loans and eight grants totaling more than $2.2 million. New announcements in the region, including AOL/Virtus Marketing in Norton, Blue Ridge Wood Products in Bluefield, Southwest Logistics in Wise and Midpaco in Duffield, will create nearly 500 new jobs with a $7.3 million investment.
We appreciate your leadership and support along with that of the General Assembly. While we continue to make progress, there is still much work to be done in Virginia's Energy Region. We pledge to strive together with you and the General Assembly to improve the economic prosperity of our region and the commonwealth.
Donald hasn't been seen much lately. The fact is VCEDA will claim to this day they created hundreds of jobs and spent millions to bring them in, when is fact most of the jobs never even existed. Where did the $2.2 million disappear to? And:
RICHMOND - Governor Mark R. Warner today announced that Virtus Marketing, a call center that located a start-up operation in the City of Norton in early 2004, will invest $100,000 to expand its operations. The expansion will create 35 new jobs. January 21, 2005 (Gone within months.)
(Then they announced) Rogers Foam Corporation Announces Location of Facility in Scott County, Virginia July 11, 2007 DUFFIELD, VIRGINIA - Rogers Foam announces that it will locate a manufacturing facility in the Duffield Regional Industrial Park. The $1.4 million project will create 50 jobs in the Midpaco building in Duffield. (They got $100,000 cash plus other goodies from the taxpayers.)
They got more corporate welfare and I'll just bet we got 50 jobs. Rogers Foam is at least still here in 2010, but has a number of other facilities they could transfer their production to.
Posted for April 20, 2010:
- The Virginia Tobacco Commission (TICR) pours millions more down the corporate welfare rathole again:
- Sustainable Woods wood-processing facility in Castlewood not sustainable, another waste of tax dollars
- A Critical Look at Appalachian Sustainable Development
- Rebuilding of Appalachian Harvest's packing, grading facility nearing completion
- Will Galax Virginia Printing Company Break Tobacco Commission Losing Streak?
- Tobacco Commission Promised 60 new jobs, Lost 50 Jobs Instead
- The Virginia Tobacco Commission and NanoChemonics of Pulaski, Virginia
- Corporate Socialism and Pinnacle Wood Products
- Bush Industries closing St. Paul furniture plant
- More Stupidity from VCEDA in 2005
- Exposing the Virginia Tobacco Commission Part 1
- Exposing the Virginia Tobacco Commission Part 2
To quote an internal audit of the Virginia Tobacco Commission in 2008:
Given the existing state of the Southside and Southwest economies, it is fair to ask whether the expenditure of over $400 million by the TICR since the year 2000 on "regional transformation" projects has had the desired transformative effect on the regions...Despite this spending, population in the region continues to decline, wage rates still lag behind the rest of the state, there is persistent high unemployment and poor educational attainment is still endemic.
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