Last year, the giant corporate entity known as Time Warner, Inc. had total corporate revenues of more than $46 billion (see page 92). That's BILLION, with a "B." That is more than twice the size of the state of North Carolina's current General Fund budget.
Today, the Charlotte Observer reports that the corporate behemoth will receive a new JDIG subsidy (i.e. the state will be cutting the company a check) to expand its cable operations in the Queen City.
Time Warner Cable will get up to $3.18 million in state grants over the next decade if it meets goals for creating 200 jobs as part of an expansion of its Charlotte operation.
That's more than $3 million handed to a huge, profitable and often roundly-hated company to "create" jobs in one of the state's wealthiest and fastest growing cities.
The next time someone tells you that big business doesn't pull most of the strings in state government, remind them of this story.
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