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Louisiana Dem Gov. to Send Tax Dollars to Chinese Company Tied to Communist Party

10

The Democrats never quit. Anything they can do to weaken America and strengthen other nations (the more hostile to America, the better), they will do.

“Louisiana Dem Gov. to Send Tax Dollars to Chinese Company Tied to Communist Party,” by Natalie Johnson, Washington Free Beacon, April 12, 2017:

Louisiana Gov. John Bel Edwards (D.) pledged a $4.3 million taxpayer-funded grant to a chemical manufacturing company owned in part by the Chinese government.

Edwards announced Monday that Wanhua Chemical had agreed to invest $1.1 billion to build a plant in Louisiana in exchange for the grant and a series of tax breaks, including an exemption from property taxes on the plant for 10 years.

The company also will benefit from the state’s Quality Jobs Rebate program, which will grant a 6 percent cash rebate for up to 80 percent of the company’s payroll for new jobs over the next decade. Wanhua Chemical’s entire payroll will be eligible for the rebate beginning in 2018.

Edwards touted the agreement as “a testament to the strength of Louisiana’s business climate and unmatched transportation logistics” that will bring 170 high-paying jobs to the state.

The deal also will send Louisiana tax dollars to the Chinese government and members of the Chinese Communist Party, which own a sizable percentage of the chemical company. Wanhua Industry Group, a holding company that owns almost a 48 percent stake in Wanhua Chemical, is itself almost 40 percent owned by a Chinese government entity, the Yantai State-owned Assets Supervision and Administration Commission (SASAC),

Richard Carbo, a spokesman for the governor’s office, rejected the idea that China’s Communist Party would receive Louisiana tax dollars as a result of the deal, arguing the grant is tied to private investors rather than the government or any political party. Nevertheless, several associates on Wanhua Chemical’s board are members of the Chinese Communist Party.

Carbo also noted that Wanhua Chemical will only receive the $4.3 million grant if it completes the project and creates the number of jobs it promised.

“If they don’t meet those obligations, they don’t receive the performance-based grants,” Carbo told the Washington Free Beacon. “If they do meet those obligations, the state of Louisiana and its people will be the beneficiaries of billions of dollars of new economic output in our state, as well as the additional infrastructure improvements.”

The plant will produce methylene diphenyl diisocyanate, or MDI, which is commonly used in the production of products containing polyurethane foams such as refrigerators, furniture, and shoes….

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  • santashandler

    Chemicals used to make furniture and refrigerators. Riiiighttt. That’s their story and they’re sticking to it. Stay tuned for the fallout in ten years when the locals tie the rise in cancer rates to the chemicals in the ground water from the plant. But, I’m sure the Louisiana gov. has already got that covered.

  • Bob Katt

    Crims gotta crim

  • Mahou Shoujo

    One thing for certain, democrats are fairly stupid, definitely not business oriented, this deal will benefit the owners and “entrepreneurs” far more than the tax payers who will be subsidizing them.

    • Pathfinder0100

      Ya know Mahou it’s gettin’ so the very words Democrat–liberal–progressive all tend to make one gag! I was one for a lot of years until the 60s when they started to go crazy.

      • Mahou Shoujo

        We all had out faults, some of us grow out of them, I was a liberal long ago, I got over it.

  • Craig

    Anti-American democrats support the communists. Nothing new here, just democrats doing what they always do, supporting anyone who hates the U.S.

  • Trevor Fortune

    All Chinese companies are tied to the Communist government. You don’t start a company in China without their approval and to get the approval they have to get a big slice of the pie, it’s that simple.

  • Janet

    Louisiana needs to get rid of this moron. Where’s Bobby Jindal when you need him? This other guy is a bafoon!

  • Mathew M

    John Bel Edwards is another Criminal to the State of American values. POTUS needs to make it easier to “FIRE” these MORONS. Edwards, this is America built and founded on Christian values : Love it and the Flag or “LEAVE” you should not be allowed to govern a dog fight.

  • marlene

    Hey leftists – these are the bottom feeders you support? If you get your wish you’ll lose your life. Anyone who supports such bureaucratic traitors has already sold his/her soul to the devil!

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