Today the Asheville Citizen-Times is reporting that Facebook is building a $300 million-plus data center in Rutherford County. The article cites that when completed, the facility will house between 35 and 45 permanent jobs, and mentions "incentives."
I am looking for definitive data, but I understand that Rutherford County and the state will pony up some $10 million in "economic development incentives" to support the Facebook facility.
$10 million for 45 jobs comes to just under $250,000 per job. From what I understand, the jobs created must pay the prevailing wage in Rutherford County, which I understand is about $13.50 per hour. Of course, this doesn't include a couple hundred temporary construction jobs for the 15 months or so it will take to build this high-tech facility.
With GOP calls for austerity, what exactly is the rationale for pumping $10 million of taxpayer dollars into a company that reportedly in 2009 had revenue of over $800 million, with positive cash flow?