Toyota announces $1.3B investment in Kentucky plant
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Still better than moving the plant. We need a much better tax system to keep businesses here. Tort reform and tax reform, corporate tax reform. doesn't matter how good somebodies intentions are for the underclass, if you don't have a job, you don't have crap.
I didn't mean it in a negative way which is why I said I hope something similar happens here in WV.
WV has to understand that there many negatives associated with WV, perceived or real, and the better the business climate, the easier it is to attract businesses. NY is now advertising the lowest taxes in decades. I wonder why?[winking]
WV has decent business climate, I think the 2 biggest obstacles are work force and infrastructure. I don't think we can cut taxes to solve those issues.
The Toyota plant at Buffalo (Putnam) WV has been a wonderful thing, plenty of good paying jobs for people with just a high school diploma.
Thanks Jay!
Thanks Jay!
The Buffalo plant has probably tripled in size and employment since it opened. It has done well.
You can't pay for those things without jobs and businesses will not locate there if the taxes are not conducive. If you don't have jobs, need to eliminate corporate taxes to get new businesses to locate there among other tax benenfits for business, you don't have state income taxes. There's only one place to start and it's not moretaxes on a meager tax base.
From the linked article in the original post - "The updates at the Kentucky plant are part of Toyota's plans to invest $10 billion in the United States over the next five years..."
Hopefully some of that will be headed to the WV Toyota plant.
Hopefully some of that will be headed to the WV Toyota plant.
We have eliminated many business taxes through the years. We changed to a RTW state. We have cheap land and low property taxes. It all has added up to jack ****. The business climate in WV is pretty good (obviously it can always be better, just like every other state) and yet we still can't attract any business to the state. Our biggest problems are our workforce and our infrastructure.
Give RTW time to have an impact.
We're seeing a lot more interest in the Eastern Panhandle for all kind of business moving to the area. I just met with a firearm manufacturer last week who's looking to build a manufacturing and warehouse facility, that could ultimately employ hundreds.
Workforce shortage is huge, as is infrastructure in some parts of the state, but what also hurts WV is some of the red tape it takes to get businesses up and running.
Good to hear about the firearm manufacturer. Around here we had some clown convince people he was moving an ammunition factory to here, but it was clearly never coming. Nor was there ever an ammunition company.
What red tape are you referring to? I find WV to be one of the easiest states to get a business started.
I'm not aware of the problems in WV, I left in 84 and moved to raonoke. I know the RTW hasn't had a chance to make an impact yet. That and tort reform, if that's a problem in wV, and the SS/disability scam that is prevalent in wV is a negative.
Yeah that magical ammunition sounded fishy as hell. Supposedly they manufactured a round that was magically accurate. Science didn't add up though.
This company is based out of Germany, and is looking to possibly move the states and be running by '18. They're also looking at South Carolina, and even though I was meeting with them as a Contractor, I gave them a 2nd Amendment sell for WV and how favorable this state would be to their industry.
Some companies find getting through state agencies, like DOH, etc. a bit cumbersome. Heard a story about a company looking to build a recycling plant around Beckley. They were told by local officials that it could be 6 months to a year to get approval and permitted. They opted out of moving into the state and went with NC instead, where they were given a 1 month duration. It's simple things like that that WV needs to improve upon.
The work force is not as bad as believed. I ran UMWA coal mines and there was nothing at all bad about those workers. They would actually brag about their production and try to do better the next shift. They certainly do not think they are "above" laying down in a mudhole if the job called for it. Now if you are talking about education well enough to steal jobs from Silicone Valley, that ain't in the cards now nor next year. But for labor jobs, they are at the top.
I just read here in Va that Ed Gillespie wants to lower income tax here in Va. North carolina and TENN are our biggest competitors and their rate is lower. I think our top marginal rate is 5.75 and that is more than NC and Tenn doesn't have a tax on earnings. NC exempts the first 17,000. Is a competition for business and each state has to set it's own parameters.
I agree on both counts. We must address both. We could look at corporate taxes as well as tort reform. In Texas, tort reform has been an issue cited by many businesses for considering Texas as a possible destination.
In other states, Universities are magnets for business. Unfortunately, WVU appears to be the only real magnet and it is not as good as it needs to be to draw in more businesses. We have to get our national ratings up to draw in more business.
Hopefully, we will get our share on the infrastructure spending front (it would help if Manchin would cross over to the GOP and negotiate some of those dollars). As for our workforce, the biggest issue, Imo, are drugs. Somehow, someway, we have to reduce the extraordinary dependency of so many West Virginians.
Mark my words, this infrastructure spending isn't going to pan out to what little hands has promised. He has promised increased spending for defense, more spending will be required for the wall/fence (that Mexico isn't paying for) and has promised tax cuts for the wealthy. Congress won't go along with increasing spending to the extent little hands wants to for infrastructure.
It's a tricky chicken or egg scenario. It baffles me why we don't legalize weed to go with any coal uptick while we bridge (no pun intended) a way to our future.
Weed isn't the big issue, its harder drugs and Opiods. Going to be very, very hard to get that under control. But until we do, businesses likely won't thrive the way we need for them to thrive.
He could always do what Obama did, simply borrow the money. Not sure why libs are suddenly so concerned about debt after the nearly $10T that Obama piled up.
Wrong, that was completely Jay Rockefeller. I went to high school with a guy and his dad owned a bunch of property in Milton, where they originally wanted to site the plant.
My brother’s best friend’s cousin went to school with the son of Underwood’s secretary and he says you’re wrong.