Gov. Pritkzer’s sweetheard deal with the Chinese Communist Party-linked Gotion Industries seems to be facing more and more headwinds. Reasonable people are asking why taxpayers are subsidizing these 2600 new jobs in Illinois to the tune of $3+ million per employee. Or why we’re giving taxpayer subsides to a company with ties to the Chinese military. Or why taxpayers are coughing up $8 billion to have the Chinese build a $2B plant (not too far from potential espionage targets…)
From The Center Square:
(The Center Square) – A Chinese-linked electric vehicle battery manufacturing getting Illinois and federal tax credits to set up a facility in Kankakee County is raising red flags for some.
Earlier this month, Gov. J.B. Pritzker joined local officials in Manteno to announce the Chinese company Gotion is bringing a new factory to Illinois.
“With a $2 billion investment, Gotion intends to build a new state-of-the-art EV battery gigafactory right here in Manteno,” Pritzker said.
The announcement comes with more than half-a-billion dollars in tax credits from the state. The deal also has the local government freezing property taxes for 30 years.
“It’s just the most recent proof that we are in a new paradigm here,” Pritzker said. “Illinois is on the rise and we’re open for business.”
Wirepoints founder Mark Glennon said the $536 million in tax credits for Gotion does not include federal tax credits as part of the Inflation Reduction Act.
“Enormous credits are available and the source that we have indicates that this will come to some $6.5 billion over the first five years,” Glennon said. “Six-and-a-half billion for a plant that’s only going to cost $2 billion to build.”