From Harford Campaign for Liberty:
Fellow Harford County Resident,
On October 1, the Harford County Council held a public hearing regarding Resolution 20-13, an Economic Development Loan for the American Can Company in Belcamp, MD.
The resolution would give the company a “conditional loan” of $125,000 from Harford County and a conditional MEDAF loan from Maryland state of $535,000 in order to expand their headquarters.
These so-called loans are both similar in that they DO NOT require monthly payments during their ten year terms, they DO NOT accrue interest on the principle balance, and if the company meets the agreed upon conditions they DO NOT NEED TO BE RE-PAID!!
Doesn’t really sound like a loan, does it?
American Can Company currently employees 221 full-time workers at its headquarters in Belcamp. They boast $80,000,000 million a year in revenues across their five locations.
And in order to meet the conditions, to make sure this is gift money from the government (because once the government takes it from you it’s no longer your money, right?), all the company has to do is keep their employee total in Belcamp over 200, and hire an additional 25 workers over the next five years.
$660,000 for 25 new jobs – and in the County Council hearing the Council members were reminded of course that this is also a matter of JOB RETENTION. Meaning, after 30 years of happily working in Harford County, this company would consider picking up their entire headquarters and three buildings of manufacturing over which state would bribe them the most?!
Some will say, “You’re being naive. That’s the way the system works.”
Maybe so. But maybe if Maryland concentrated on lower taxes, less regulatory red tape, and a true business-friendly environment, it might find that system works as well.
At the very least, the taxpayers of Harford County should be able to count upon their local officials to be good stewards of their money. Why insist upon making this a conditional loan?
As Councilman McMahan complained during the the last MEDAF loan vote, “we’re going to give ’em $100,000 instead of a loan, we’re giving money away like a drunken sailor.”
On this upcoming vote, join in calling for our Council members to choose fiscal responsibility. Please, call and email your representative and let them know that you’re opposed to this “conditional loan”.
District A: Dion Guthrie call 410-638-3521
District B: Joe Woods call 410-638-3520
District C: James McMahan call 410-638-3523
District D: Chad Shrodes call 410-638-3522
District E: Richard Slutzky call 410-638-3522
District F: Mary Ann Lisanti call 410-638-3526
Council President Billy Boniface call 410-638-3525
This vote could come up as early as TODAY!
Won’t you make a two minute call and voice your opposition today?
Steering Committee Member
Harford County Campaign for Liberty
P.S. Resolution 20-13 must be endorsed by County Executive David Craig, “thereby indicating his approval thereof.” Is he as fond of this type of “freebie financing” as Governor O’Malley seems to be? Since he’s running for Governor in 2014, perhaps we should find out! O’Malley’s administration gave away $15 million in conditional loans alone in 2012!
Call County Executive Craig at 410-638-3350 and email him at CountyExecutive@harfordcountymd.gov and ask him if he supports these freebie “conditional loans”.