Taxpayers are the losers when states compete for jobs. Factories are better built where they most make sense.
Foxconn took an offer it couldn’t refuse: up to $3 billion in public subsidies — or $1 million for each and every worker promised a job at the factory over the next 15 years. In effect, taxpayers are putting up $3 for every $10 spent on the project.
What else could $3 billion have bought? How about providing early-childhood education for two years for 150,000 at-risk children? That would have been a higher-return, lower-risk, better buy.
Education, not underwriting private gain with public money, is the path to long-term prosperity. Treating everyone the same, not offering corporate handouts to a favored few, is the key to a thriving business climate.