A laughable taxpayer giveway to Freightquote
The Kansas City Star
Freightquote is bringing more than 1,000 jobs from Lenexa to Kansas City.
Unfortunately, it’s not bringing much actual tax money to pay for city and state services.
In the latest fiscally insane taxpayer giveaway, Freightquote has been approved for tens of millions of dollars in corporate welfare by Kansas City and the state of Missouri.
The company won’t have to pay any substantial amount of property taxes to Kansas City for 25 years.
KC will have to let the company keep millions in other taxes it normally would owe the city.
The state will let the company keep tens of millions in Missouri taxes it normally would owe.
No wonder the Freightquote officials were so ecstatic with their official press release:
“We appreciate the efforts put forth by the state of Missouri and the city of Kansas City in creating an incentive package for our company to make a significant investment in the city and state,” said Tim Barton, CEO of Freightquote. “We look forward to growing our business in Kansas City, Missouri and to making a positive impact on the local economy.”
Shame on Govs. Sam Brownback of Kansas and Jay Nixon of Missouri for being so irresponsible in not leading the charge to stop the corporate stealing that’s gone on the last few years, creating few net new jobs and little new tax revenue for this region.
And it’s too bad that Mayor Sly James - who knows how badly these kinds of deals are hurting the region and the city - has to tweet out this kind of nonsense as he did Friday:
“Proud to welcome http://Freightquote.com to its new home in #KC. 1000 current employees plus 200 more once moved! Very smart entrepreneurs!”
Or, how about “very smart deadbeats when it comes to paying taxes.”
Yes, the KC Star got a limited tax break to keep its $200 million printing presses downtown in the last decade.
This is a much more robust tax incentive for a smaller dollar-sized development to locate out along the I-435 corridor near State line.