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Fenton Grants Daimler Chrysler Millions In Tax Breaks

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  • Fenton Grants Daimler Chrysler Millions In Tax Breaks

    By a unanimous vote, Fenton's Board Of Aldermen approved a major tax break for Daimler Chrysler Wednesday night. But that's not a decision that the local school district wanted.

    QUOTE
    The auto company has pledged a $1 billion dollar investment at the Fenton plant, but only if it receives a 70% tax break on new machinery and equipment purchased for upgrades. The ten year tax break will save DCX about $24 million.

    "A billion dollars is a lot of money, and you don't make this type of investment on a whim. You're making a statement you're not intending to leave town very quickly," says Daimler Chrysler spokesman Al Pope.

    Fenton Mayor Dennis Hancock says with the improved technology the Fenton plant will be able to produce 3 vehicles on the same assembly line. "The truck plant will also get an upgrade and new robotics to improve their production numbers and make them more efficient."

    Chrysler is still seeking incentives from St. Louis County and the State of Missouri, but Pope hinted a no vote might have affected the Fenton facility's status. "Take the message back to Auburn Hills and I don't know how that would have been received. So tonight was a very positive step."

    The Rockwood School District and other entities receiving tax money pushed for Chrysler only getting a 50 percent tax break. Rockwood superintendent Craig Larson says he must prepare for a smaller windfall. "Over a 5 year period Chrysler will be offering less and less as a percentage, and we'll have to figure out what that means five years from now. And that's hard to predict right now."

    The mayor claims it was easy to predict what would happen if Fenton refused Chrysler's request. "The only way anyone would have lost is if we hadn't done this, and the investment would have gone somewhere else. Everybody would have lost and lost big," says Hancock.

    Missouri Governor Matt Blunt has already said he supports the Daimler Chrysler deal. Chrysler hopes to have St. Louis County and the State sign off on incentives by the end of the year.[/b][/quote]
    Be passionate about what you believe in, or why bother.

  • #2
    Congrats Yaks. Hope this gets you guys plenty of work and a lot closer to retirement.

    We're hoping to sell some more C-17's to get me closer to retirement. [img]style_emoticons/<#EMO_DIR#>/tongue.gif[/img]
    RIP Stan the Man
    The StL Blues will NEVER win the Stanley Cup. I repeat, NEVER!
    I miss TLR!

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    • #3
      Great. More taxs breaks for broken corporations.

      Comment


      • #4
        QUOTE
        The mayor claims it was easy to predict what would happen if Fenton refused Chrysler's request. "The only way anyone would have lost is if we hadn't done this, and the investment would have gone somewhere else. Everybody would have lost and lost big," says Hancock. [/b][/quote]

        Yeah, cause if the Fenton plant hadn't gotten the breaks, Daimler would have rolled up the carpets and shut the company down.

        Moon

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        • #5
          Isn't this a good thing that they are keeping the plant open? I really don't see a problem with the tax breaks as they are going for improvements to the plant AND keeping the people who work there employed.

          As for the school districts complaining, how much in tax revenue do they think they'd be getting if the plant closed and the people who lived in the district lost their jobs and stopped paying taxes? Not to mention the taxes, no matter the amount, that Chrysler pays to the state and county would be completely gone.
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          • #6
            QUOTE(Daisy Mae @ Oct 27 2005, 10:30 AM) Quoted post

            Isn't this a good thing that they are keeping the plant open? I really don't see a problem with the tax breaks as they are going for improvements to the plant AND keeping the people who work there employed.

            As for the school districts complaining, how much in tax revenue do they think they'd be getting if the plant closed and the people who lived in the district lost their jobs and stopped paying taxes? Not to mention the taxes, no matter the amount, that Chrysler pays to the state and county would be completely gone.
            [/b][/quote]

            That plant is an abomination. I hope it closes down and the hoosiers that work there go find work outside of the St Louis area. We don't need Daimler in Fenton. Maybe we could get a respectable company to move into that site. One that would actually give back to the community rather than ruin it. Fenton used to be a nice town. We all see what years of Chrysler oppression has done to it.

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            • #7
              QUOTE(Dr.Gonzo @ Oct 27 2005, 10:33 AM) Quoted post

              QUOTE(Daisy Mae @ Oct 27 2005, 10:30 AM) Quoted post

              Isn't this a good thing that they are keeping the plant open? I really don't see a problem with the tax breaks as they are going for improvements to the plant AND keeping the people who work there employed.

              As for the school districts complaining, how much in tax revenue do they think they'd be getting if the plant closed and the people who lived in the district lost their jobs and stopped paying taxes? Not to mention the taxes, no matter the amount, that Chrysler pays to the state and county would be completely gone.
              [/b][/quote]

              That plant is an abomination. I hope it closes down and the hoosiers that work there go find work outside of the St Louis area. We don't need Daimler in Fenton. Maybe we could get a respectable company to move into that site. One that would actually give back to the community rather than ruin it. Fenton used to be a nice town. We all see what years of Chrysler oppression has done to it.
              [/b][/quote]

              ++

              Get those blue collar hoosiers out of there and bring in some office jobs! [img]style_emoticons/<#EMO_DIR#>/laugh.gif[/img]
              "Need some wood?" -- George W. Bush, October 8, 2004

              "Historians will judge if this war is just, not your punk ass." -- Dave Glover, December 8, 2004

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              • #8
                QUOTE(Dr.Gonzo @ Oct 27 2005, 10:33 AM) Quoted post

                QUOTE(Daisy Mae @ Oct 27 2005, 10:30 AM) Quoted post

                Isn't this a good thing that they are keeping the plant open? I really don't see a problem with the tax breaks as they are going for improvements to the plant AND keeping the people who work there employed.

                As for the school districts complaining, how much in tax revenue do they think they'd be getting if the plant closed and the people who lived in the district lost their jobs and stopped paying taxes? Not to mention the taxes, no matter the amount, that Chrysler pays to the state and county would be completely gone.
                [/b][/quote]

                That plant is an abomination. I hope it closes down and the hoosiers that work there go find work outside of the St Louis area. We don't need Daimler in Fenton. Maybe we could get a respectable company to move into that site. One that would actually give back to the community rather than ruin it. Fenton used to be a nice town. We all see what years of Chrysler oppression has done to it.
                [/b][/quote]
                What's with all the hatin' on the hoosiers? Hoosiers need jobs too you know.
                Official Lounge Sponsor of Kentucky - The Bluegrass State
                Proud Sponsor of Kirkwood Athletic Associations's Gameface #5 DK
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                NOW Sponsoring St. Louis Cardinals #3 Abraham Nunez
                LET'S GO CARDINALS!!!!! \"IPB

                "From there to here, from here to there, funny things are everywhere..."

                formerly aka Lois Lane - Going back to my hillbilly roots!

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                • #9
                  QUOTE(Daisy Mae @ Oct 27 2005, 10:35 AM) Quoted post

                  QUOTE(Dr.Gonzo @ Oct 27 2005, 10:33 AM) Quoted post

                  QUOTE(Daisy Mae @ Oct 27 2005, 10:30 AM) Quoted post

                  Isn't this a good thing that they are keeping the plant open? I really don't see a problem with the tax breaks as they are going for improvements to the plant AND keeping the people who work there employed.

                  As for the school districts complaining, how much in tax revenue do they think they'd be getting if the plant closed and the people who lived in the district lost their jobs and stopped paying taxes? Not to mention the taxes, no matter the amount, that Chrysler pays to the state and county would be completely gone.
                  [/b][/quote]

                  That plant is an abomination. I hope it closes down and the hoosiers that work there go find work outside of the St Louis area. We don't need Daimler in Fenton. Maybe we could get a respectable company to move into that site. One that would actually give back to the community rather than ruin it. Fenton used to be a nice town. We all see what years of Chrysler oppression has done to it.
                  [/b][/quote]
                  What's with all the hatin' on the hoosiers? Hoosiers need jobs too you know.
                  [/b][/quote]
                  Yep, and they can get them somewhere else.

                  We don't need that plant. It's a drain on our economy.

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                  • #10
                    My dad worked there for 30 years - didn't realize he was a hoosier til just now.

                    Thanks.
                    Official sponsor of Mike Shannon's Retirement Party

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                    • #11
                      As long as they keep on making those minivans...I'm happy. [img]style_emoticons/<#EMO_DIR#>/smile.gif[/img]

                      Dat's right!

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                      • #12
                        I'm trying to piss Yaks off. Shhhhhhhhhhhh

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                        • #13
                          QUOTE(ElviswasaBluesFan @ Oct 27 2005, 10:37 AM) Quoted post

                          My dad worked there for 30 years - didn't realize he was a hoosier til just now.

                          Thanks.
                          [/b][/quote]

                          There are some hard lessons in life.

                          Moon

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                          • #14
                            QUOTE(Moon Man @ Oct 27 2005, 10:38 AM) Quoted post

                            QUOTE(ElviswasaBluesFan @ Oct 27 2005, 10:37 AM) Quoted post

                            My dad worked there for 30 years - didn't realize he was a hoosier til just now.

                            Thanks.
                            [/b][/quote]

                            There are some hard lessons in life.

                            Moon
                            [/b][/quote]

                            I mean, we have all of our teeth and everything.
                            Official sponsor of Mike Shannon's Retirement Party

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                            • #15
                              QUOTE(ElviswasaBluesFan @ Oct 27 2005, 10:37 AM) Quoted post

                              My dad worked there for 30 years - didn't realize he was a hoosier til just now.

                              Thanks.
                              [/b][/quote]

                              Workign at the plant didn't make your pops a hooiser.

                              Leaving the rusty 52 Dodge in the front lawn and screaming at chickens in the passenger seat while shitfaced at 2am every night pretty much sealed the deal. [img]style_emoticons/<#EMO_DIR#>/wink.gif[/img]

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