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Originally Posted by Cannon Shell
I guess Franks severance package was a little short. I love when they break out the old "it going to cost the taxpayers money" reverse-psychology. If the license it "worth" $1 dollar and they sell it for .50 then the naysayers say they lost .50 instead of saying that they gained .50 which is the real world truth. Imagine if Michigan offered huge tax incentives to foreign automakers to move there? There would be outrage! But when gambling is concerned, the tracks and their long years of creating jobs and providing tax revenue to the state are forgotten.
Someone is going to make a windfall off of the project. Like them or not, Magna has made a big investment in Maryland racing. And frighteningly enough, they are probably the only hope MD has.
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Imagine indeed! Granholme and the Michigan legislature have been actively recruiting the Japanese automakers. Toyota is opening a new tech center near Ann Arbor that will employ 500. Guess what? The state of Michigan sold them the land. The deal is heavily tax advantaged. Hyundai and Mitsubishi are building a $400 Million plant just outside Detroit in a venture with Daimler Chrysler. Guess what they got? $100 Million+ in tax incentives.