Chinese companies and your taxes
Chinese companies and your taxes
It’s not easy to attract businesses to Illinois these days, according to the governor. JB Pritzker celebrated when the state landed a large electric vehicle battery factory in September. The real winner, however, is Gotion, the Chinese company that collects taxpayer funding to subsidize the manufacturing of its electric vehicles.
Mr. Pritzker boasted that the new $2 billion factory would create 2,600 green jobs in Lincoln Country and represent “the largest new manufacturing investment in Illinois in decades.” The company’s decision was made easier by a $536 million grant package from Illinois, including $213 million in tax benefits, a 30-year property tax freeze and $125 million from Invest in Illinois state loan program.
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