Values Fund Report...DMR

http://www.dmregister.com/apps/pbcs.dll/article?AID=/20060620/BUSINESS04/606200379/1001

Report: Job promises being kept
Report notes economic successes in 'amazing' number of projects

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The report released Monday shows 196 companies have created about 5,300 new jobs in Iowa and invested $1.6 billion in new buildings and equipment over about 2 years. The projects - 93 percent of which are "on schedule or completed" - have retained about 2,700 jobs.

The Iowa Department of Economic Development report also shows that 19 companies have declined incentives from the Iowa Values Fund, and that five companies owe the state about $700,000 after failing to reach their goals, money the state says it is aggressively pursuing. Together, those projects represent 1,757 jobs and $201 million in capital investment.

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The jobs created pay an average annual wage of $37,086, nearly 15 percent more than the state per capita income of $32,315, the report shows.

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The state excluded 122 companies that received awards but were too new to have made significant progress toward the jobs and investment goals. Those companies have pledged to create nearly 11,000 jobs and invest $1.5 billion in new offices, plants and equipment.

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Much, much more at the site - what do you think of the report? (and how do we get the $700,000 in tax-payer money back from the companies that didn't live up to their promise?) :shrug:

My question is: would those companies have created those jobs anyway - without the IVF incentives?
I was talking with someone at the Iowa Policy Project a while back, and he said there's no way to know.

It seems to me that if Iowa has an educated work force, good health care for all, and top-notch education for families, companies will create or move jobs here anyway. I honestly think we should invest our $ in the people first.

thx - cs

:bounce:

I'd think we'd be better off putting money into that and education to create a mecca for businesses. Holy cow, Canada keeps growing like a weed.

and I thought, "What does that have to do with job creation?"

And then I just didn't worry about it :smoke:

It will be interesting to see how much the Vaudt report differs. I used to think Vaudt had integrity, but in today's atmosphere I got to wonder if he will be trying to get Nussle elected with an unfavorable report.
I saw a story yesterday where a sex educator said she can no longer trust reports issued by the government. That is exactly how I feel here.

EDIT: looks like I took the wrong numbers to calculate with. My error. I guess I don't see how much IDED has layed out for these jobs or any breakdown of what the cost per job is.
Also would be very interesting to know if any of these jobs are union and the breakdown in wage between hourly and salary.

The IDED already complained that compiling this report was tedious, they're not about to do a wage breakdown (see, then the public might see a disparity between management jobs and employee jobs) You can have four employees with an average salary of $25,000 a year, but what if three of the employees made $12,000 a year and the manager made $64,000 a year would that still be a successful job creation program? Don't want too many details here now do we :eyes: