First of all, to resist the current arrangement with Titan Cement based on an anti-cash incentive stems from a misunderstanding of the incentive package. The incentive, is in fact performance based. Titan first has to generate a minimum of 2.2 million dollars of tax revenue the first year the plant is operational to receive six hundred thousand dollars. The tax rebate is tied to their performance. This must be done for seven years during the first seven years of operation. In other words, they must build this 500 million dollar state of the art cement plant, and then generate enough business revenue to be able to pay the county at least 2.2 million in taxes before they can receive the rebate.
In addition, 800 contracting jobs will be created during the two year construction phase. With the economy in the shape that it is in now, New Hanover County could use these jobs. The unemployment rate in North Carolina is above 11%. It is also my understanding that 161 full time jobs will be created to staff the plant with an average salary of 75,000. That is over 12 million dollars in salaries. It is only reasonable to expect some measure of tax revenue from the impact of those salaries.
I’ve heard that two significant concerns are with the tourism industry and the attraction of our area by retirees. I certainly recognize that, however, it seems that another section is being left out. How about the regular hard working American citizen that is trying to provide for their families? Should we have to move to another area of the country to pursue our dreams of finding a decent job? Will our children have to move away because our interest is being ignored?
I recognize that there are environmental concerns, and it appears that Titan is following not only the letter of the law, but the spirit of the law by committing themselves to exceeding that which is currently required by the law. It is my understanding that there are regulations and safeguards on the federal, state and local levels to make sure that the plant is compliant before it can become operational.
Look, I’m not saying that we should ignore concerns that we have. However, as a conservative, I ask, how does it affect individual liberty and the pursuit of happiness, including property rights.(Titan owns the property) Secondly, are we maintaining our commitment to limited government or are we encouraging its greater expansion and influence to ensure we have our way in this particular matter. And finally, how does this affect our free market/capitalist economic system.
In defense of Titan Cement, I say, let them build the plant giving our economy a much needed boost and keep a close eye on compliance with environmental and air quality regulations so that our tourist can enjoy the beaches and other natural attractions, our prospective retirees can enjoy their well earned rest, and our hard working citizens can have an additional opportunity to find good steady work.