Start Drug-Testing IKEA, Tennessee

Legalized bribery: 

Swedish furniture retailer Ikea would save about $9.5 million over 11 years with a tax incentive the company is requesting as it plans to invest more than $64 million for a new store in Memphis, records show.

Ikea would be the first retailer to receive a payment-in-lieu-of taxes incentive from the Economic Development Growth Engine for Memphis and Shelby County, created in 2011 to streamline city and county governments’ business incentives.

Well, if by “streamline” you mean “give away as much money as is humanly possible to companies that do not need it at all,” okay then. When local school districts are starving for cash and people are complaining about why their taxes are so high, I’m sure this won’t even come up.

A.

2 thoughts on “Start Drug-Testing IKEA, Tennessee

  1. In earlier times, this wouldn’t be called “economic development.” It would be called by its proper name, extortion.

    And, it’s yet another means by which to funnel wealth upwards and costs downward. What makes it ironic is that if Ikea tried this in Sweden, they’d probably find themselves in criminal court. Here, well, that’s just business.

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